According to recently released statistics from the Federal Reserve, average mortgage payments as a percentage of disposal income have reached their lowest point since 1980. This is great news for homebuyers!
For example, most homebuyers in each of the prior three decades would have likely spent 30% – 50% more than today’s homebuyers on their mortgage payments when calculated as a percentage of their disposable income. This means that homes today are up to 50% more affordable than they were at various points throughout the past 37 years.
It’s time to party like it’s 1980! Contact me for further info or if you’d like for me to run the numbers for your situation.