Housing Affordability: Best to Buy Now or Wait?

Today CNNMoney.com released an article on housing affordability entitled “You don’t have to be a millionaire to buy a house.” Is it true?

According to the NAHB and Wells Fargo, 70.1% of all U.S. homes sold during the 3Q were affordable for the typical American family. (Typical, in this study, means a median income of $64,000.) This percentage was a significant rise from the 56.1% which qualified one year ago.

Many buyers have already taken advantage of these low housing prices, which are further discounted by the federal tax credit and low interest rates. Others, however, have procrastinated. To those folks CNN writes, “Now is a good time to buy.”

To read more, visit CNNMoney.com.

Tags: Affordability, Economy, Housing, Real Estate