{"id":34,"date":"2005-12-30T08:16:00","date_gmt":"2005-12-30T15:16:00","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=34"},"modified":"2005-12-30T08:16:00","modified_gmt":"2005-12-30T15:16:00","slug":"housing-is-is-more-affordable-despite-contrary-opinions","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/34\/housing-is-is-more-affordable-despite-contrary-opinions\/","title":{"rendered":"Housing is is more affordable despite contrary opinions"},"content":{"rendered":"

From the New York Times<\/a> (registration required:<\/p>\n

Despite a widespread sense that real estate has never been more expensive, families in the vast majority of the country can still buy a house for a smaller share of their income than they could have a generation ago.<\/p>\n

A sharp fall in mortgage rates since the early 1980’s, a decline in mortgage fees and a rise in incomes have more than made up for rising house prices in almost every place outside of New York, Washington, Miami and along the coast in California. These often-overlooked changes are a major reason that most economists do not expect a broad drop in prices in 2006, even though many once-booming markets on the coasts have started weakening.<\/p>\n

The long-term decline in housing costs also helps explain why the homeownership rate remains near a record of almost 69 percent, up from 65 percent a decade ago.<\/p><\/blockquote>\n

Actually, it would be interesting to compare square-footage-per-occupant with the percentage of income needed to pay for a home. Homes are a lot larger than they used to be, with fewer full time residents. Anyone who pays attention to reality and not the news media knows that virtually everything is better and cheaper–expressed in work-effort-expended-to-obtain–than it was twenty years ago, and there is no reason I can think of that housing should be any different.<\/p>\n

But-but-but!–the “affordable housing” campaigners will exclaim–home-ownership in the Phoenix-area is below the national average! This is true. The national average is 69%, where the Valley of the Sun trundles along at a lowly–wait for it–68%. If you subtract our incompletely-documented residents, we are well above the national average.<\/p>\n

But-but-but! People in Phoenix pay more than the national average for housing, expressed as a percentage of their income! This is also a case where subtracting the hard-working folks who live under the radar yields radically different results.<\/p>\n

“Affordable housing” is a scam. There is no one with a decent income, good credit and well-managed debt who cannot purchase a home in the Valley. We prove this thousands of times a month. Creating a vast new government program to give the illusion of ownership to Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

From the New York Times (registration required: Despite a widespread sense that real estate has never been more expensive, families in the vast majority of the country can still buy a house for a smaller share of their income than they could have a generation ago. A sharp fall in mortgage rates since the early […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-34","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-general","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5993,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5993\/can-we-stop-falling-house-values-an-op-ed-piece-by-the-nahb\/","url_meta":{"origin":34,"position":0},"title":"Can We Stop Falling House Values? An Op Ed piece by the NAHB","author":"Tom Vanderwell","date":"December 9, 2008","format":false,"excerpt":"This is excerpts from an op ed piece written by Steve Hodgkins.\u00a0\u00a0 I\u2019ll throw some comments in to explain\/clarify what he\u2019s saying and why I don\u2019t agree with a large portion of it. The decline in single-family home values is the predominate reason for the current economic collapse\u2026\u2026 Tom here\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3223,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3223\/canadian-housing-crash-could-induce-more-investing-in-america\/","url_meta":{"origin":34,"position":1},"title":"Canadian Housing Crash Could Induce More Investing in America","author":"Brian Brady","date":"June 9, 2008","format":false,"excerpt":"You heard it here first. Canadian real estate is in the danger zone. Well, maybe not all of Canada's housing stock will fall but the Western provinces look overvalued. If you subscribe to my site, you heard about this over the weekend. It all started back in 2003. A barrel\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5010,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5010\/what-happens-to-the-early-worm\/","url_meta":{"origin":34,"position":2},"title":"What Happens to the Early Worm?","author":"Cooksquared","date":"October 16, 2008","format":false,"excerpt":"Quite a while back I asked a question, if the early bird gets the worm, what is the early worms reward for being early? In this tumultuous market we have already seem many early worms. Several months ago a lot of people began jumping back into real estate only to\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17280,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17280\/overnight-news-the-riotscore-of-chiefs-of-police-when-are-you-safe-when-should-you-flee\/","url_meta":{"origin":34,"position":3},"title":"Overnight News: The RiotScore\u2122 of Chiefs of Police: When are you safe? When\u00a0should you flee?","author":"Greg Swann","date":"October 9, 2020","format":false,"excerpt":"There is no rioting! More importantly, there is no denial of the rioting that is not happening, anyway! How can you know that's all true? Because there are no police chiefs quitting in disgust all over the country, that's how! So there! Urf... Meanwhile: Yesterday on BloodhoundBlog: Brian Brady: October\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11728,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11728\/how-to-salvage-the-mortgage-industry-in-six-months\/","url_meta":{"origin":34,"position":4},"title":"How To Salvage The Mortgage Industry in Six Months","author":"Brian Brady","date":"April 9, 2010","format":false,"excerpt":"I'm going to say something very unpopular... again: We gotta get the Government out of the mortgage business. That's not going to happen anytime soon but we, as responsible free market advocates of our respective industries, must never stop saying \"I told you so\" when the whole thing implodes again.\u00a0\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10192,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10192\/with-help-like-this\/","url_meta":{"origin":34,"position":5},"title":"With help like this…","author":"Al Lorenz","date":"October 29, 2009","format":false,"excerpt":"Robert Worthington is right.\u00a0 Do you want to know how right he is?\u00a0 According to Goldman Sachs, who ought to know about government intervention, the feds interventions into the housing have pushed home prices 5% higher on a national average than they would have been otherwise, Goldman Sachs estimates in\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/34","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=34"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/34\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=34"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=34"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=34"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}