1. Homes have never been more affordable
For individual home buyers, there are only a few facts that really matter:
Can I AFFORD this home?
Is it a good DEAL?
Does it meet my family’s NEEDS?
So, it’s bit surprising that the most important housing statistic has gone largely unreported:
Homes have never been more affordable. In fact, affordability, measured by the median mortgage payment on the current median-priced home ($182,400) as a percentage of the median household income ($64,400), is lower than it’s been in a generation.