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Week of March 11th-Trulia says housing actually growing more affordable

March 11, 2018

Trulia’s new study shows while it may be tempting to think previous generations had it easier, housing is actually more affordable now than it was 40 years ago.

The company constructed an affordability score, comparing the highest price the median household could afford with median actual home prices in each year. A household’s highest affordable price is its maximum buying power, with a 20% mortgage down payment. An affordability score of 100 means that the affordable and actual prices are exactly the same; a score of 100 or higher means housing is affordable, and under 100 means it is not affordable.

The study showed that nationally, homes are the most affordable they’ve been in the last 40 years, and the median household could afford a home 1.5 times more expensive than the median home price.  Read more




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