The US has never had more affordable homebuying than now

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A home buyer purchasing a typical American home at the prevailing average mortgage rate  today would have a mortgage payment of  $698 a month. This figure is not much different from what a home buyer would have faced 30 years ago. In 1981, home prices were much lower but mortgage rates were reaching 18 percent. Today, home prices have come down by about 33 percent on average from the bubble years, but prices still remain comfortably higher than those of the 1980s. However, thanks to record low mortgage rates, the monthly payment obligations have been greatly reduced.At the other end, one sees the slowest growth in monthly mortgage payments for homebuyers. It is not that this cost element rose slowly and steadily over time; rather, it is the result of volatile swings in home prices and mortgage rates. Compared with the other items, the value proposition for homebuying is blaring!   Very tight underwriting standards, unfortunately, are keeping some good, hard-working Americans from taking advantage of the super affordable conditions.

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the us has never had more affordable homebuying than now

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Carol Babington
Carol Babington Associates - Las Cruces, NM

A very succint and informative post which I will pass onto to my buyers...

Oct 29, 2011 06:00 AM #1
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

The only part of the equation you missed is that incomes have risen considerably since 1981. So when you take all the factors its actually a provable number to show the MOST affordable time to buy a home in just under 60yrs! Yep since the 50's it hasnt been a better time to buy than now!

Oct 29, 2011 06:03 AM #2
Suzi Boyle

Thanks Carol

Oct 29, 2011 06:35 AM #3
Suzi Boyle

Thanks US Mortgages

Oct 29, 2011 06:36 AM #4
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Suzi, NOW is the time!  

    A well-written and motivational Blog Post.

Oct 29, 2011 07:50 AM #5
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