Despite a down economy, housing affordability remains at record highs according to the National Association of Home Builders.
NAHB’s Affordability Index indicated that “72.3 percent of all new and existing homes sold in the second quarter of 2010 were affordable to families earning the national median income of $64,400.” Before 2009, they note that the Index never topped 70 percent.
The causes are fairly simple: great interest rates and lower housing prices in many of the nation’s bigger markets.
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