Re:Is Denver housing market failing? Borrowers need $90K in ...
by Rewqtr133 on Wednesday February 28, 2018 @01:22PM
(#16485291)
Is there something I'm missing?
"To qualify for a 30-year mortgage on a home at metro Denver’s median price, assuming a 20 percent down payment and an interest rate of 4.04 percent, a borrower needed income of $79,181, HSH.com calculates."
"The most recent U.S. Census Bureau estimate the median family income in metro Denver is running just above $80,000, said Keith Gumbinger, a vice president with HSH.com."
Someone making median income can afford a median home? That sounds pretty reasonable to me...
"To qualify for a 30-year mortgage on a home at metro Denver’s median price, assuming a 20 percent down payment and an interest rate of 4.04 percent, a borrower needed income of $79,181, HSH.com calculates."
"The most recent U.S. Census Bureau estimate the median family income in metro Denver is running just above $80,000, said Keith Gumbinger, a vice president with HSH.com."
Someone making median income can afford a median home? That sounds pretty reasonable to me...