BlogStoriesForget the Price of the Home. The Cost is What Matters.
Forget the Price of the Home. The Cost is What Matters.
By Living Room Realty, November 26, 2019
Here is a table that simply shows the data:
Bottom Line
In the article, Mark Fleming, Chief Economist at First American, explained it best:
“Focusing on nominal house price changes alone as an indication of changing affordability, or even the relationship between nominal house price growth and income growth overlooks what matters more to potential buyers – surging house-buying power-driven by the dynamic duo of mortgage rates and income growth. And, we all know from experience, you buy what you can afford to pay per month.”