Trulia: Home affordability slips for middle class

[Crewleader]

Trulia: Home affordability slips for middle class

Where it’s cold it’s affordable; where it’s warm you can’t buy

Trey Garrison
November 18, 2014 12:01AM



Home affordability continues to challenge first-time, young and middle-class buyers, with some of the warmer climes generally making for the hottest – and least affordable – housing markets.

But good news if you like the cold – the most affordable markets are near the Great Lakes.

That’s the summary from Jed Kolko, chief economist for Trulia.

“Despite high household incomes, San Francisco is the least affordable metro, with just 15% of homes within reach of the middle class. Affordability has deteriorated over the past year in Austin and Miami,” he writes. “…Affordability has fallen modestly, hurt by rising home prices, but helped by lower mortgage rates.”

http://www.housingwire.com/articles/32079-trulia-home-affordability-slips-for-middle-class

[jtuck004]

1. "helped by lower mortgage rates.” < That's what "helped" banksters to a lot of profit in 2004/5

Over 7 million families thrown out of their homes in forecloseure, currently 9 million home loans underwater with more to come when interest rates increase, and banksters now reporting record profit$.

"Oh, help me. Help me..." -

That kind of help I'm not sure we need.