Friday, October 21, 2011

30 years ago, the median mortgage payment was more than double what it is today.

Owning a home is more affordable than you probably think.


Affordability measures ability to buy - that is, the amount of a median family's income consumed by the median mortgage. In 1981, it took 36% of the median family's income to pay the mortgage on the median priced home. Today it takes 15% -- a historic low!

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