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Article: FOURTH QUARTER '08 HOUSING AFFORDABILITY INDEX FOR ALABAMA NOW AVAILABLE ON UNIVERSITY OF ALABAMA'S REAL ESTATE CENTER WEB SITE

Article from:
US Fed News Service, Including US State News
Article date:
February 11, 2009
Copyright

TUSCALOOSA, Ala., Feb. 10 -- The University of Alabama issued the following news release:

The fourth quarter Alabama Housing Affordability Index is now posted on The University of Alabama's Center for Real Estate Web site at http://acre.cba.ua.edu/affordability_index.php.

The statewide housing affordability index is calculated as the ratio of the state's median family income to the income needed to buy and finance the state's median priced home. An index of 100 means that a family earning the state's median income has just enough buying power to qualify for a loan on the state's median priced, single-family home. The higher the index, the more affordable the housing.

The state average for ...

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