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Housing Affordability At Record Levels

March 30, 2009

If there’s any “silver lining” in the economic tsunami known as our current economy it’s the fact that housing affordability is an incredible numbers.  2008 ended with the affordability index at 19%.  That’s down from a high in 2006 at 24%.  What this means is that for median home price in 2006 it took 25% of the annual household income to afford that.  Today, it takes 19% of the average household income to afford the median home price.

housing-affordability

So this may be the time to act.  The missing message in this time in our economic history is the value of the affordability factor.

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