123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

The Ultimate Truth About Housing Affordability | Home For Sale In Whitegate

Profile Picture
By Author: Steve Mueller
Total Articles: 17
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

There have been many headlines decrying an “affordability crisis” in the residential real estate market. While it is true that buying a home is less affordable than it had been over the last ten years, we need to understand why and what that means.

On a monthly basis, the National Association of Realtors (NAR), produces a Housing Affordability Index. According to NAR, the index…

Measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.

Their methodology states:

To interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment.

It is true that the index is lower today than any year from 2009 to 2017. However, we must realize the main reason homes were more affordable. That period of time immediately followed a housing crash and there were large numbers of distressed properties (foreclosures and short sales). Those properties were sold at large discounts.

Today, the index is higher than any year from 1990 to 2008. Based on historic home affordability data, that means homes are more affordable right now than any other time besides the time following the housing crisis.

With mortgage rates remaining low and wages finally increasing, we can see that it is MORE AFFORDABLE to purchase a home today than it was last year!

Get More Info : https://www.vantagerealtypros.com/the-ultimate-truth-about-housing-affordability/

More About the Author

We encourage you to experience the unparalleled value of working with Vantage Realty Pros by simply reaching out to us with your real estate dreams in mind. We are here to serve you, in any way we can. Our mission is to continually elevate our client’s real estate experiences through selfless guidance and undeniable expertise. So, whether you’re a first-time home-buyer, a seller, or even a home renovator, Vantage Realty Pros will help you navigate the process to get the positive outcome you’re after. We absolutely love what we do and look forward to having the opportunity to meet with you to discuss your real estate needs. For More Info : Visit Here : http://www.vantagerealtypros.com/

Total Views: 31Word Count: 279See All articles From Author

Add Comment

Business Articles

1. The Ultimate Guide To Engagement Rings
Author: Gold Trunk

2. What’s So Special About A Pair Of Loake Shoes?
Author: Sherman Brothers

3. Know The Ultimate Impacts Of Global Market Research Experts
Author: Empirico Research

4. Satta Matka Rajdhani Day Guessing
Author: kamran ali

5. Overspray Removal On An Industrial Level By Jln
Author: kevin

6. Fascinating Jewellery
Author: perlamuse

7. Product Kitting – The Best Opportunity To Grow Your Business
Author: kartzhub

8. Live Chat For Customer Service
Author: Surabhi Joshi

9. Polymer Binders Industry Global Market Recent Trends And Projected Market Size By 2020 – 2023
Author: Market Research Future

10. Advantages Of Hiring A Software Development Company
Author: Mario F. Davis

11. Make Construction Hassle-free With Ready Mix Concrete
Author: Dinesh Concrete

12. Breathable Films Market Share - Size, Growth, Trends, By 2023
Author: Market Research Future

13. Why Should Someone Hire A Pr Agency?
Author: Atul Singh Chaudhary

14. Erickson Beamon Earrings For Everyone
Author: Lisa Alfieri

15. 9 Reasons To Use Instagram For Business In 2020
Author: jessica0329 jessi

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: