Home has been anything but sweet for owners who have gone through foreclosure or owe more on their mortgages than their homes are now worth. The good news? According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index numbers released this week, home prices are now the most affordable they've been in at least five years. What do you know about what affordable housing means in the US?
1 of 3Question 1
Calvin Klein
Miriam Ocariz
John Lewis
2/3
1Obviously New York is the least affordable.
2Even in these scary economic times a home is still probably the best investment and return on your money that you will ever make.
3Wow! I'm surprised Indianapolis won over Youngstown. Then again, Indianapolis kind of is in the middle of nowhere.
43/3.
5I would have to disagree with saraedavila. Sure, real-estate is a great investment at times like these when one can buy twice as much for half the price (that’s an option for those few who have the funds to do it), but overall real estate’s returns are lower than that of a well diversified portfolio. Total returns for the S&P 500 from 1926 to 2007 averaged 10.37% a year. Plus, there are a lot of funky mortgages out there with people chasing the interest rate only and forgetting about the closing costs, total time in debt, and the total cost of their mortgage
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