Real estate blog entries tagged with 4 mortgage rates by Mark MacKenzie Real Estate Planning

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Home : Blogs : Mark MacKenzie : The Blog of Author Mark MacKenzie: It's The Housing Market, Stupid! : Tag "4 mortgage rates"

4 mortgage rates: No, REALLY, it's not about housing affordability anymore - 02/03/09 03:37 PM

A couple of weeks ago I wrote a post titled, It's NOT about housing affordability. The basis of the post was that according to the NAR's housing affordability index, affordability in November of 2008 was the highest on record since 1973 when they began tracking the indicator. The NAR measures the relationship between the median existing single family home value, the median family income, and mortgage rates.
Housing affordability is one of those catch phrases that has been said for a long enough period of time that the assumption is that it must still be true, otherwise, why would everybody still … (0 comments)

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