Lower prices and interest rates in the third quarter of 2011 contributed to an improvement in housing affordability for California home buyers.
The percentage of home buyers who could afford to purchase a median-priced home in California rose to 52 percent in the third quarter of 2011, up from 51 percent in second-quarter 2011 and was up from 46 percent in the third quarter of 2010, according to C.A.R.’s Traditional Housing Affordability Index (HAI).
San Diego real estate affordability went from 14% in 2005 to 41% in the 2nd quarter of this year … (0 comments)
With hundreds of thousands of homeowners facing foreclosure, are there any financial tools available to distressed borrowers that haven’t been tried yet? And is there a way to help owners that won’t rack up huge federal expenditures and add to the deficit? The Obama administration has been exploring options — including a new refinancing program expected this month — but a concept has surfaced on Capitol Hill that might offer modest help with no revenue cost to the government:
Amend the tax code to allow homeowners who have 401(k) retirement plans to pull out money to save … (1 comments)
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