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Article: Low Mortgage Rates Keep Homes Affordable in Scottsdale, Ariz., Area.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 8, 2003
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Copyright informationCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Michelle Swafford, The Tribune, Mesa, Ariz. Knight Ridder/Tribune Business News
Mar. 8--Scottsdale and East Valley home prices continued to escalate in 2002, but record-low mortgage rates are keeping homes affordable in most communities.
The Arizona Real Estate Center at Arizona State University recently released its affordability index, which shows how affordable homes are based on home prices and income levels. The Valley's affordability index remained at 124 for existing-homes in 2002. A household earning the median income could afford to purchase a median-priced home in an area if the index is at 100. Anything below 100 means the median ...
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Article: HOUSING-AFFORDABILITY INDEX SLIPS.(Business)
Albany Times Union (Albany, NY);
June 27, 1989 ;
252 words
......last month, according to a housing-affordability index released Monday by the Albany County...price was $99,700, resulting in an affordability index of 110, according to board officials...will indicate an increase in the affordability index to reflect recent declines in interest...
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