News & Press Releases
For all current events and local, national and international media coverage
Housing Affordability at Record High
Great News for First-Time Homebuyers
January 30th, 2009 Catherine Rampell
One of the upsides of a crashing-and-burning housing market, as Edward Glaeser noted back in October, is that buying a home becomes more affordable.
And indeed, according to an index released by the National Association of Realtors, housing affordability was at an all-time high in December.
The Housing Affordability Index composite level for December was 158.8. A composite H.A.I. value of 158.8 means that a family earning the median income has 158.8 % of the income needed to qualify for a mortgage on a median-priced home. (In other words, a higher index number means housing is more affordable; a lower index number means housing is less affordable.) The index had fallen during most of the housing bubble, when it became more and more expensive to buy a home. But as you’ll see in the chart [left], December’s composite level was the highest the index has reached since the association began collecting this data in 1971.
Real Estate News & Press Menu
Green is in the Air
Press Release July 28th, 2009
Garbett Opens First Condos
News Article July 17th, 2009
Four Utah towns make Money
News Article July 13th, 2009
Housing grants provide boost to Utah economy
News Article June 30th, 2009
Find Peace of Mind
Press Release June 22nd, 2009
Government grants help homebuyers
News Article May 17th, 2009
Utah Homebuyers
News Article April 28th, 2009
Development marches on at Daybreak
News Article April 24th, 2009
Recovery Hopes Begin to Blossom
News Article April 7th, 2009
$6,000 State Fund - how to get yours
Press Release March 12th, 2009
Utah Tops "Happiness" Poll
News Article March 11th, 2009
Great Bargains and Tax Cuts
Press Release February 24th, 2009
$8,000 Tax Credit - how to get yours
Press Release February 17th, 2009
Housing Affordability at Record High
News Article January 30th, 2009
Rent vs. Own - is now the time to buy?
Press Release January 30th, 2009
Garbett Wins Ad Campaign of the Year
Press Release January 30th, 2009
Competing with Foreclosures
Press Release January 15th, 2009
New Trend in Salt Lake Homebuilding
News Article September 1st, 2008
Garbett Homes on Cover of Builder Magazine
News Article September 1st, 2008
Daybreak
News Article June 28th, 2008
Garbett Enters Mexico City Market
Press Release June 26th, 2008
Builder Makes Name in Affordable Homes
News Article June 21st, 2008
Quarry Bend Development Thrives
News Article June 17th, 2008
Garbett Enters Kansas City, Missouri
Press Release June 2nd, 2008
Affordable Townhomes at The District
Press Release March 29th, 2008
