Housing could be at its most affordable in more than 40 years I just read a really cool article. It says that a California based company called Beacon Economics has created the Beacon Economics Home Affordability Index. They found that in August homes were at their most affordable level since data became available (1969). They developed the Beacon Economics Home Affordability Index based on the percentage of income an average family would need in order to make mortgage payments on an average priced home.Estimates from August show that the cost of home ownership (mortgage interest plus principal payments after a 20 percent down payment) fell to 16.9 percent from 17.1 percent in July. Overall, the Beacon Economics Home Affordability Index has remained below 20 percent for the past twenty-...
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