Housing is so cheap! (Part 2)
I read last week that, according to the Mass Association of Realtors, “affordability index” in the Greater Boston area is at the same level as 2001.
Meaning, based on average / median incomes and average / median home prices, the same number of people could afford to buy, in 2008, as could afford to buy, in 2001. (Or, something like that.)
I’m not saying it’s true or false (trust me, I have a problem with NAR/MAR etc., too), but what if it is? Does that mean anything to people? Do you feel housing is “cheaper” than it was one, two or three years ago? Will we ever feel housing is “cheap”?
