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Home Buying 101: Home Affordability Better Now than 1985-2000

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Home Buying 101: home affordability Better Now than 1985-2000 Home price gains bring sellers off the sidelines SAN DIEGO (AP) – Robert and Emerald Oravec were itching to sell their condominium late last year to move closer to a favorite surfing spot, but they were stuck. They owed the bank $194,000 and figured the most they could get was $180,000.

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A better question, and one which can be answer ed, might be: "What is the average days on market for the average home in Dunedin?" This, I can answer–first, by establishing what the "average" home is in 34698: statistically speaking, the average home sold in the past 90 days in Dunedin is a 3 bedroom, 2 bath home of approximately 1638 sq. ft.

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Home buying 101 Affordability is better now than in 2006. Though it is difficult to afford a home for many Americans, data shows that it is more affordable to purchase a home now than it was from 1985 to 2000. And, it requires much less of a percentage of your income today than it did in 2006.. 4 Reasons to.

Consumer house-buyer power has been greater than the actual price of a home since 1991. And, the spread is larger over the last decade. Bottom Line. Even though home prices are increasing rapidly and are now close to the values last seen a decade ago, the actual affordability of a home is much better now.