nationwide housing affordability index at highest level since 1970: Nationwide Housing Affordability Index at Highest Level Since 1970 - 01/29/13 03:26 PM
Nationwide Housing Affordability Index at Highest Level Since 1970
by Michelle Carr Crowe, Silicon Valley guide and Cupertino real estate agent
The National Association of REALTORS(R), aka NAR, reports the Nationwide Housing Affordability Index is at its highest level since tracking began in 1970.
The “Housing Affordability Index,” is a measurement used to gage how well the U.S. median family’s income can afford a median priced U.S. home.
Assumptions made by the index include:
20% down payment
25 percent of the household’s gross income is devoted to principal and interest payments
a Mortgage at the median interest rate.
An index of … (2 comments)

 
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