Opportunity of a Lifetime?
Posted by Phil Boren on Wednesday, April 22nd, 2009 at 11:31pm.Can you recognize and act on opportunity? How about an opportunity to capitalize on a market that hasn't presented itself like this in over 30 years? As the chart below indicates (Source: NAR, via Haver), that's what we may have in the current real estate market. The Housing Affordability Index (AHI), is basically a measure of how many people can afford to buy a median-priced home at any given time. The recent index value of 160 is the highest it's been since 1970! This is a combination of many things that may indicate a buying opportunity. It's a fundamentally sound number and also tends to be a leading indicator of the market. This is not to say that all homes in all markets are more affordable now; real estate is still an intensly local market and there are places where this might be a stretch, but it is an indicator that has to trend upward as the overall housing market recovers.
Contact us today for more information and take advantage of this once-in-a-lifetime opportunity to prosper in the real esatete market. A year from now, you'll be glad you started today!
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Phil Boren
Direct: 303-441-5647
Email: pboren@remax.net
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