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Here’s an updated look at the “affordable home” price chart.
In this graph I flip the variables in the affordability index calculation around to other sides of the equation to calculate what price home the a family earning the median household income could afford to buy at today’s mortgage rates if they put 20% down and spent 30% of their monthly income.
The “affordable” home price hit $496,051 back in April, but has since dropped off…
Don’t forget, you can get access to the spreadsheets used to make the charts in this and other posts by becoming a member of Seattle Bubble. It’s been a few months since we took a look at the local affordability index. So, let’s have a new look at all of our affordability index charts. As…
It’s been a while since we took a look at how rents are comparing to home prices in the Seattle area. Both home prices and rents have been climbing quite a bit in the Seattle area lately. We would expect this with a booming local economy, but if home price gains been significantly outpacing rent…
It has been a while since we last looked at one of our primary housing bubble metrics: local home prices compared to incomes. In the next chart I am using the Case-Shiller Home Price Index for the Seattle area (which rolls together King, Snohomish, and Pierce counties) and Bureau of Economic Analysis data on per…
As promised in yesterday’s affordability post, here’s an updated look at the “affordable home” price chart. In this graph I flip the variables in the affordability index calculation around to other sides of the equation to calculate what price home the a family earning the median household income could afford to buy at today’s mortgage…