Housing Starts to be Affordable Again

Housing Starts to be Affordable Again

Housing affordability, helped by lower interest rates and house prices, closed out the year near its highest level in almost 20 years according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).
The HOI showed that 70.8% of all new and existing homes sold in the final quarter of 2009 were affordable to families earning the national median income of $64,000. This was slightly higher than the last quarter and near the record-high 72.5% set during the first quarter of 2009. That’s up from 62.4% during the fourth quarter of 2008.
Maybe we are finally getting back to where housing starts to be affordable again.