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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (124657)	5/22/2008 10:27:02 AM
From: Jim McMannis	Respond to of 306849

Crunch turns back clock on mortgage lending news.yahoo.com LOS ANGELES (Reuters) - As U.S. banks mop up the mess from billions of dollars of bad home loans, buyers are finding the days of cheap money are over and, in many cases, tougher versions of old lending rules now apply. People of modest means have seen the American dream of home ownership move further out of reach. Even affluent buyers, who took advantage the last decade's low interest rates and looser lending standards to move up to more expensive homes or to buy investment properties, are seeing their options evaporate

To: John Vosilla who wrote (124657)	5/22/2008 10:32:42 AM
From: Jim McMannis	Respond to of 306849

Real estate school selects first scholar Randy Anderson will direct a research and education institute orlandosentinel.com The former president of CNL Real Estate Advisors, Randy I. Anderson, has been selected to lead the University of Central Florida's new real estate school as it prepares to expand in one of the nation's fastest-growing regions. Anderson was chosen this week to be the first to hold the Howard Phillips Eminent Scholar Chair in Real Estate at the Orlando university, the nation's sixth-largest, with more than 48,000 students.

To: John Vosilla who wrote (124657)	5/22/2008 10:56:59 AM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

Nation's Most and Least Affordable Housing Markets efinancedirectory.com Most Affordable Housing Markets Metro Area Median Home Price Median Income % of People Who Can Afford a Home Kokomo, IN $88,000 $57,400 95.3% Lima, OH $80,000 $56,900 95.0% Cumberland, MD-WV $70,000 $50,100 93.7% Lansing-East Lansing, MI $97,000 $62,700 93.0% Springfield, OH $76,000 $54,500 92.6% Battle Creek, MI $75,000 $54,600 92.0% Wheeling, WV-OH $79,000 $45,800 91.5% Bay City, MI $80,000 $53,700 90.2% Indianapolis, IN $106,000 $65,100 90.1% Monroe, MI $133,000 $66,200 90.0% Source: National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) As always, the most affordable housing markets are concentrated in Ohio, Michigan and Indiana. More than 90 percent of the people who live in the metros on this list can afford a median priced home. Least Affordable Housing Markets Metro Area Median Home Price Median Income % of People Who Can Afford a Home Los Angeles-L Bch-Glendale, CA $412,000 $59,800 10.5% New York-W Plains-Wayne, NJ-NY $490,000 $63,000 12.5% San Francisco-S Mateo-R City, CA $680,000 $94,300 12.7% Salinas, CA $393,000 $64,800 13.1% San Luis Obispo-P Robles, CA $425,000 $67,000 13.8% Napa, CA $449,000 $79,600 15.8% Miami-Miami Bch-Kendall, FL $300,000 $49,200 16.5% Santa Ana-Anaheim-Irvine, CA $470,000 $84,100 17.4% Santa Barbara-S Maria-Goleta, CA $380,000 $65,200 19.6% Nassau-Suffolk, NY $420,000 $97,100 20.1%