Right now, yes in the year 2008, is the most affordable time to purchase a house in the last 35 years...
Based info from the NAR (National Association of Realtors), every year, the combination of median single family home price, family income, qualifying income, interest rates = the Housing affordibility index.
Here is how it works, a score of 100 means a family has the exact amount of income to qualify for a home, a score of 120 means a family has 120% of the income needed, therefore making it actually more affordable & the home mortgage payment a smaller portion of their bills.. http://www.realtor.org/research/research/hameth
So, we need to spread the word!!, there is no technical, financial, or analytical reason not to buy a home..
Not only is it the classic rallying cray of a "Great time to Buy" but its actually the "BEST time to Buy in out of the past 35 years"!!!!
Wow!! That is something to write home about... or at least to write to customers about homes about...
US HOUSING AFFORDABILITY INDEX is NOW 135
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