Housing- Home prices cheapest since 1973

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Home prices cheapest since 1973

Tuesday, December 23, 2008
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From DailyWealth:

You're not going to believe this... But U.S. residential real estate is now more affordable than it's been since 1973.

It's true. Thanks to 1) record low mortgage rates (Wells Fargo is offering 30-year fixed mortgages under 4.9%) and 2) a speedy fall in home prices (the median home price is down $50,000 on average nationwide)... we've arrived at "affordable" quicker than I ever imagined possible.

With house prices and mortgage rates way down... poof! We're here. Houses are ridiculously affordable once again. But that alone doesn't mean it's time to buy.

Read full article...

Topics:		Housing \| Recession \| Real_Estate

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