I’m confused. If the realtors used 33% instead of 15%, then their affordability index would go up (affordability is higher). Since you think their index is already too high (I agree, btw) then using 33% would make it even higher and more misleading.
15% may not be right on, but I think it was based on some sort of research. If they had just picked a number out of thin air they could have picked a larger number and made their numbers look better. In any case you have given no evidence or argument as to why it is wrong.