US real estate more affordable as those able to buy take advantage of low prices, research shows

[Nicholas Wallwork]

Property in the US is close to a record high in terms of affordability due to low mortgage interest rates and stable prices, it is claimed.

The latest survey from the National Association of Home Builders and Wells Fargo shows that 72.3% of all new and existing homes sold in the second quarter of 2010 were affordable to families earning the national median income of $64,400.

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