Whether you've lived in your home for a few months or a few decades, you probably think you know it best. But that doesn't mean you're the most qualified person for the job when the time comes to
Homes Still More Affordable For Today’s Buyers Than The Previous Generation
There's a lot of talk in the news about homes becoming more unaffordable, but the truth is, homes today are far more affordable for potential buyers than they were for the previous generation. According to a recent affordability report from Zillow, the share of income needed to cover monthly mortgage payments on the median home in the US is 17.1%—a solid 4% less than the previous generation of homebuyers (people who purchased their homes between 1985 and 2000 who put 21.1% of their monthly income towards mortgage payments). That means if you bring home $75,000 per year, you'd spend an average of $1062.50 on your monthly mortgage payment in 2018. Compare that to the $1318.75 spent by the previous generation.
Prices may be rising, but competitive interest rates and a strong job market means people are still paying less each month for their homes than the historic average, which is great news for potential buyers. If you've been thinking about purchasing a home, you're going to want to make a move before those costs start increasing.
I am a lifelong resident of Alaska and have lived in the Anchorage area for over 26 years. I take pride in offering the best real estate services to my clients. I bring a wealth of knowledge about b....
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There's a lot of talk in the news about homes becoming more unaffordable, but the truth is, homes today are far more affordable for potential buyers than they were for the previous generation.
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