Affordability of US homes reaches new record | csmonitor.com: "US homes are now more affordable than at any time since the National Association of Realtors began tracking affordability in 1970.
The finding, announced Tuesday morning by the National Association of Realtors (NAR), means that family incomes are high enough and mortgage rates and real estate prices are now low enough that homeownership is within the reach of a record number of Americans."
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Oh, how encouraging. I shall run out forthwith and purchase myself some real estate. Maybe a few thousand shares of General Motors while I'm at it. Never have these precious assets been more affordable.
1 comment:
Buyer beware! What may appear to be affordable up front may really be a financial black hole. If there is a homeowner association involved, this is quite likely the case!
Buying HOA laden housing, even at a steep discount, is like playing financial Russian Roulette with a money hungry board of directors. In other words, what may appear to be a precious asset will only drain your precious assets!
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