Buying a Home Like It's 1999
The drop in home values caused by the mortgage crisis has resulted in at least one positive outcome: Prices have fallen so far and so fast that home affordability is back to pre-housing boom levels, according to a new report.
After reaching a peak in late 2005, the ratio of home prices to annual income fell to its lowest levels in 35 years last September, according to data compiled by Moody's Analytics, which tracked median home prices and annual incomes in 74 markets.
Read more at DailyFinance.com.
These AOL Real Estateguides can help, whether you're in the market to buy, rent or sell:
- How to Shop for Your First Home
- Tips for Finding a Rental Apartment
- How to Price a Home to Sell Fast
- Vacation Homes: Is Now the Time to Buy?