Housing Affordability Upswing
Under normal conditions, we expect the housing market to boom when home prices are in line with household incomes, mortgage interest rates are at historically low levels and the supply of properties for sale is plentiful. Right now these favorable conditions generally prevail everywhere, but the housing market remains in one of its most serious busts.
See attachment for complete report.
By James P Gaines and Beth Thomas
Source: Tierra Grande, Journal of the Real Estate Center at Texas A & M University (January (2010)
Phil Hobson, Prudential Texas Properties
Attachment(s): Housing Affordability Upswing.pdf
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