Posts in category 'Understanding The Market'
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7
Should You Wait for Lower Mortgage Rates? Here Are the Questions I'd Ask First.
Mortgage rates matter.
There's no question about that. A lower interest rate can reduce your monthly payment, while a higher rate can affect what you're comfortable spending on a home.
But if you're trying to decide whether now is the right time to buy, mortgage rates are only part of the picture.
Here are a few other questions worth considering.
Are You Ready to Buy?
Buying a home before you're financially or personally ready rarely leads to a good experience.
But there's another side to that.
Once many people make the decision to move, they're in...
28
Why Buying a Home Feels More Difficult Than It Did a Generation Ago
If you've ever thought, "Buying a home seems so much harder today than it was for my parents," you're not imagining it.
There are many reasons housing feels different today, but one simple comparison helps explain why.
Economists often compare the median home price with the median household income. This is known as the price-to-income ratio. It doesn't predict whether a particular family can afford a home, but it does provide a useful way to compare housing affordability across different places and different points in time.
Years ago, a typical home in the United States cost about three times the median household income.
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