31.08.2011 - Talk of green shoots in us as affordability hits 20y high
The latest data from the Wells Fargo Housing Opportunity Index, in conjunction with the National Association of Home Builders puts housing affordability in the US at a 20 year high. According to the data 75% of housing in the country is now affordable to families earning the national average salary $64,200. This is great news of course, especially with interest rates at record lows, unfortunately credit is still in a stranglehold allowing only those with impeccable credit histories to even think about buying with a mortgage -- not to mention worries over the economy putting a dampener on sentiment..............................................Full Article: Source
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