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09-01-2009
Click Logic Staff
According to the National Association of Home Builders/Wells Fargo Housing
Opportunity Index, housing affordability remains near its highest level in 18
years.
"The increase in affordability, along with the $8,000 federal tax credit for
home buyers, is stimulating demand, particularly among young, first-time
buyers," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "But to
keep the recent upturn in home sales going into next year, Congress will need to
extend the tax credit for another year and make it available to all buyers in an
effort to encourage activity in the trade-up market."
The HOI showed that 72.3 percent of all new and existing homes sold in the
second quarter of 2009 were affordable to families earning the national median
income of $64,000, down only slightly from the record-high 72.5 percent during
the previous quarter and up from 55.0 percent during the second quarter of 2008.
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