If you're still suffering under the divisional aliment known as home ownership, there is some good news today for Northeast Ohio. The National Association of Home Builders — those guys who've been burning the candle at both ends for a decade-plus trying to put a positive spin on total economic collapse — have brought some numbers to the table that actually indicate that two-story Carpenter Gothic or Cape Cod isn't a bong dream — especially in Youngstown.
According to the organization's housing opportunity index, home ownership is very affordable right now due to
Obama's economic initiatives the GOP's congressional actions who the hell knows what. These conditions favor areas like Youngstown, a patch of turf the organization says is the most affordable metro area in the nation for house hunting. Newsnet 5 (via CNN Money) says:
Now, all this info does have to be taken with a grain of salt. Lending conditions remain pretty tight, although those of us lucky get banks to play ball are going to walk away with a pretty sweet deal. This week, 30-year loans hit a record low, 3.87 percent.
There, 95.1 percent of homes sold during the quarter were deemed affordable to typical local households earning the area's median family income of $54,900.
The other metro areas near the top of the list included Lakeland, Fla., Modesto, Calif., Harrisburg, Pa., and Toledo, Ohio.
Another Ohio city — Lima — was also singled out on the affordability index.
Now, before you all pack up and head for Youngstown, remember this info hides one fact: home loans. Lending conditions remain pretty tight, although those of us lucky enough to get banks to play ball are going to walk away with a pretty sweet deal. This week, 30-year loans hit a record low, 3.87 percent.