[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fvnq83cjyp2fk":3,"$ffeh0925h8cuz":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":35,"next":41},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":33,"updatedAt":34},966,"2-charts-that-show-the-truth-about-home-affordability","2 Charts That Show the Truth about Home Affordability","There is a lot of discussion about the current state of housing affordability for both first-time and move-up buyers, and much of the narrative is tarnished with a negative slant. However, the truth is that housing affordability is better today than at almost any time in our history.","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F11\u002F27160124\u002F20171129-Share-STM.jpg","There is a lot of discussion about the current state of housing affordability for both first-time and move-up buyers, and much of the narrative is tarnished with a negative slant. However, the truth is that housing affordability is better today than at almost any time in our history.\u003C!--more-->\r\n\r\nThe naysayers are correct in the fact that affordability today is not as good as it has been over the last several years. But, we must remember that home prices collapsed during the housing crash, and distressed properties (foreclosures and short sales) kept home values depressed for years. When we compare affordability to the decades that proceeded the crash, a different story is revealed.\r\n\r\nHere is a graph of the \u003Cem>National Association of Realtors’ \u003C\u002Fem>\u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fresearch-and-statistics\u002Fhousing-statistics\u002Fhousing-affordability-index\">\u003Cem>Housing Affordability Index\u003C\u002Fem>\u003C\u002Fa>\u003Cem>.\u003C\u002Fem> The higher the graph, the more affordable homes are.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F11\u002F20171129-STM-ENG1.jpg\">\u003Cimg class=\"alignnone wp-image-36603\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F11\u002F20171129-STM-ENG1.jpg\" alt=\"2 Charts That Show the Truth about Home Affordability | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nWe can see that affordability is better today than in the fifteen years prior to the boom and bust.\r\n\r\n\u003Cem>CoreLogic\u003C\u002Fem> just published a report showing the \u003Ca href=\"http:\u002F\u002Fwww.corelogic.com\u002Fblog\u002Fauthors\u002Fandrew-lepage\u002F2017\u002F11\u002Fhomebuyers-typical-mortgage-payment-up-10-percent-year-over-year.aspx\">National Homebuyers’ “Typical Mortgage Payment.”\u003C\u002Fa> Here is a graph of their findings:\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F11\u002F20171129-STM-ENG2.jpg\">\u003Cimg class=\"alignnone wp-image-36604\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F11\u002F20171129-STM-ENG2.jpg\" alt=\"2 Charts That Show the Truth about Home Affordability | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nIt reveals that, though a ‘typical’ housing payment was less expensive in 2012 \u003Cem>(remember distressed properties),\u003C\u002Fem> it is currently less expensive than it was in 2000 and is still projected to be lower next year than it was in 2000.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nMark Fleming, \u003Cem>Chief Economist \u003C\u002Fem>at\u003Cem> First American,\u003C\u002Fem> explained it best:\r\n\u003Cblockquote>\u003Cem>“While borrowing power for the potential home buyer has fallen relative to the low point of 2012, it remains high today and will remain high next year, relative to the long run average. If you don’t want to rent anymore and are considering becoming a homeowner, even if mortgage rates rise next year, your borrowing power will remain strong by historic standards.”\u003C\u002Fem>\u003C\u002Fblockquote>","\r\nMark Fleming, \u003Cem>Chief Economist \u003C\u002Fem>at\u003Cem> First American,\u003C\u002Fem> explained it best:\r\n\u003Cblockquote>\u003Cem>“While borrowing power for the potential home buyer has fallen relative to the low point of 2012, it remains high today and will remain high next year, relative to the long run average. If you don’t want to rent anymore and are considering becoming a homeowner, even if mortgage rates rise next year, your borrowing power will remain strong by historic standards.”\u003C\u002Fem>\u003C\u002Fblockquote>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F11\u002F20171129-STM-ENG1.jpg",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},38,"Move-Up","move-up",{"id":30,"name":31,"slug":32},53,"Rent vs. Buy","rent-vs-buy","2017-11-29T10:00:51Z","2017-11-29T11:38:26Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":10,"isVideo":15},965,"low-interest-rates-have-a-high-impact-on-your-purchasing-power","Low Interest Rates Have a High Impact on Your Purchasing Power","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F11\u002F27152100\u002F20171128-Share-STM.jpg","2017-11-28T10:00:00Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":10,"isVideo":15},967,"the-real-reason-home-prices-are-increasing","The Real Reason Home Prices are Increasing","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F11\u002F27163030\u002F20171130-Share-STM.jpg","2017-11-30T10:00:42Z",{"cover":48,"open":49,"shareSpread":50},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[52,56,57,61,65,69,73,74,78,82,83,87,91,95,99,100,104,108,112,116,120,124,128,132,136,140,144,148,152,156],{"id":53,"name":54,"slug":55},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":58,"name":59,"slug":60},6,"For Sellers","sellers",{"id":62,"name":63,"slug":64},7,"Foreclosures","foreclosures",{"id":66,"name":67,"slug":68},8,"Infographics","infographics",{"id":70,"name":71,"slug":72},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":75,"name":76,"slug":77},34,"Senior Market","senior-market",{"id":79,"name":80,"slug":81},35,"Mortgage Rates","mortgage-rates",{"id":26,"name":27,"slug":28},{"id":84,"name":85,"slug":86},41,"For Sale by Owner","for-sale-by-owner",{"id":88,"name":89,"slug":90},42,"Featured","featured",{"id":92,"name":93,"slug":94},45,"New Construction","new-construction",{"id":96,"name":97,"slug":98},52,"Luxury \u002F Vacation","luxury--vacation",{"id":30,"name":31,"slug":32},{"id":101,"name":102,"slug":103},80,"Time-sensitive","time-sensitive",{"id":105,"name":106,"slug":107},81,"Outdated","outdated",{"id":109,"name":110,"slug":111},147,"Internal","internal",{"id":113,"name":114,"slug":115},148,"Do Not Autopost","do-not-autopost",{"id":117,"name":118,"slug":119},320,"Inventory","inventory",{"id":121,"name":122,"slug":123},321,"Agent Value","agent-value",{"id":125,"name":126,"slug":127},322,"Affordability","affordability",{"id":129,"name":130,"slug":131},323,"Buying Tips","buying-tips",{"id":133,"name":134,"slug":135},324,"Downsize","downsize",{"id":137,"name":138,"slug":139},325,"Economy","economy",{"id":141,"name":142,"slug":143},326,"Equity","equity",{"id":145,"name":146,"slug":147},327,"Forecasts","forecasts",{"id":149,"name":150,"slug":151},328,"Selling Tips","selling-tips",{"id":153,"name":154,"slug":155},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":157,"name":158,"slug":159},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]