Sunday, February 26, 2006

More on housing:

The Miami Herald continues its great work on housing prices, with a new series, starting with Priced out of 'the American Dream'. Along with the main story, sidebars, a searchable databases of housing by area, price, etc. in South Florida, plus a fascinating set of data from Moody's, listing percentage of income needed to buy a house in most U.S. cities, metro areas, and states, from 1970-present: Housing Affordability. Looks like upstate New York is the place to buy a house these days..and has been among the most affordable areas for years, although Danville IL leads the list. Interestingly, many of these affordable places are becoming even more affordable.
Least affordable: many cities in California and South Florida, where it can take 50-60 percent of median income to buy a house.


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