Affordable Housing

A few years back the squealing broken-arsed pinkos were moaning like hell about affordable housing. They wanted all sorts of regulations, rules and?legislation?to be passed to require affordable housing. Well as is usual the market has delivered rather than the politicians.

Houses are at their most affordable levels in seven years, with falling prices, interest rates at record lows and banks more willing to lend, according to a monthly report into affordability.

The Roost Home Loan Affordability report, released today, shows home loan affordability in May was at its best levels since April 2004.

The report measures affordability for individual income earners and households, based on median house prices, interest rates and incomes. Affordability has been improving since December 2009.

The national median house price fell from $360,000 in April to $350,000 in May. It was a record high of $365,000 in March.

In May, affordability improved in most cities and provincial areas, including central Auckland, Wellington, Hamilton and New Plymouth, because of a drop in median house prices.

There you go. Affordable housing.

My mate has always thought house were affordable, he has about 30 of them, and doesn’t seem to have a problem affording whatever house he wants to buy.