{"id":1669,"date":"2018-07-15T06:00:42","date_gmt":"2018-07-15T10:00:42","guid":{"rendered":"http:\/\/buyershomestore.com\/?p=1669"},"modified":"2018-07-14T14:30:09","modified_gmt":"2018-07-14T18:30:09","slug":"house-buying-power-at-near-historic-levels","status":"publish","type":"post","link":"https:\/\/buyershomestore.com\/house-buying-power-at-near-historic-levels\/","title":{"rendered":"House-Buying Power at Near-Historic Levels"},"content":{"rendered":"
We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent\u00a0Real House Price Index<\/a>,<\/em>\u00a0First American<\/em>\u00a0reported that consumer \u201chouse-buying power\u201d is at \u201cnear-historic levels.\u201d<\/p>\n Their index is based on three components:<\/p>\n The report explains:<\/p>\n \u201cChanging incomes and interest rates either increase or decrease consumer house-buying power or affordability. When incomes rise and\/or mortgage rates fall, consumer house-buying power increases.\u201d<\/em><\/p><\/blockquote>\n Combining these three crucial pieces of the home purchasing process,\u00a0First American<\/em>\u00a0created an index delineating the actual home-buying power that consumers have had dating back to 1991.<\/p>\n\n