One More Time… You Do Not Need 20% Down to Buy a HomeThe largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising rents, which
Moving Up Is MORE Affordable Now Than Almost Any Other Time In 40 Years
Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years
“Nationally, homes are just about the most affordable they’ve been in the last 40 years… the median household could afford a home 1.5 times more expensive than the median home price. In 1980, the median household could only afford about 3/4 of the median home price.
Despite relatively stagnant incomes, affordability has grown due to the sharp drop in mortgage rates over the last 30 years – from a high of over 16% in the 1980s to under 4% by 2016.
Of the nation’s 100 largest metros, only Miami became unaffordable between 1990 and 2016. Meanwhile, 22 metros have flipped from being unaffordable to becoming affordable in that same time frame.”
The graph shows that housing affordability is better now than at any other time in the last forty years, except during the housing crash last decade.
Jason Asch is the team leader of the My NKY Home team and is a career oriented individual whom is extremely energetic and loves working with people. Whether you are Buying or Selling Real Estate, Jaso....
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