Real estate blog entries tagged with housing affordability was the most favorable on record in 2010 by David Edwards (Keller Williams Realty Southeast Sound)

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Home : Blogs : David Edwards : David's Blog : Tag "housing affordability was the most favorable on record in 2010"

housing affordability was the most favorable on record in 2010: Housing affordability was the most favorable on record in 2010. - 11/03/11 02:53 PM

Definition: The percentage of a median family’s income required to make mortgage payments (principal and interest) on a median priced home.
Unprecedented interest rates, low mortgage rates as well as the first-time buyer tax credit continue to contribute to improving affordability conditions.
The median mortgage payment (principal and interest) in 2010 consumed less than 15% of family income in comparison to the historical standard of 25%. 2010: 14.3%2009: 14.8%2008: 18.1%2007: 21.7%2006: 23.2%
14.3% in 2010 is the lowest on record (since 1970). In 2003, it was at 19.1% due to significantly lower mortgage rates that year.The highest price-to-income ratio ever recorded … (0 comments)

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David Edwards

Renton, WA

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Keller Williams Realty Southeast Sound

Address: 560 Naches Ave SW #100, Renton, WA, 98057

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