Spent some time recently on the Google looking for the best maps of Austin. Austin neighborhoods, Austin area schools, Austin demographics, Austin politics, etc. Holy cow, it’s the
Owning a home may be cheaper than you thought
Dated: June 21 2018
Let’s discuss an economic measure called the affordability factor.
The affordability factor is the calculation of how
So your payment on a $250k house today would be the same as your payment on a $150k house in 1992.
Another way to look at affordability is the impact of increasing interest rates. I think we all can agree that interest rates will go up (hint: they have never been lower). For every 1% increase in interest rate, you lose 10% of your buying power. Here is an easy example:
And then the next angle is to look at it from a % of income … mortgage payment as a % of income. It is historically low.
This information is provided as a guide. It
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Licensed since 1999, Julie is a real estate veteran in Austin, TX, brokered by eXp Realty. Realtor, trainer, coach, industry author, career strategist, Julie serves buyers and sellers throughout the ....