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To: MythMan who wrote (96427)	4/19/2001 4:27:24 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 436258

i noticed that the real estate groups do claim that housing "affordability" is at or near an all time high. there is a problem, though. first, affordability wasn't at issue. the change in purchase price of comparable homes relative to avg incomes was at issue. 1. this includes the impact of interest rates (one pays down principle, not interest - e.g., a 20 year $10,000 loan at x% interest is a lot different than a 20 year $30,000 loan at y% interest where the monthly payments are equal). 2. this doesn't exclude the fact that there are more people contributing to household income now than in the past. 3. the way the govt massacres numbers, they probably changed the way this was measured and allowed far greater debt without back changing the prior data (like they did with productivity). my guess is that this is where cb's data craps out (or, possibly, the data she is now trying to find ;-). but, i don't know. i haven't seen the data, just a lot of smoke blowing around ;-)