Current State of Home Affordability in Michigan

Today the average American household can gather up the money to buy a median priced home in 4 years. That is if no money is spent on anything else. Buying a house is a very important decision and you have a lot of factors to take into consideration.


Knowing something about mortgages interest rates, average home prices and other home affordability data can help a lot.

Home median value is 7 times higher  than 70 years ago, a home in the 1940's cost $30,600 and in 2010 a home cost $219,700.

Foreclosures are usually a length process and you need to be aware of that. If you are 90 days past due on your house payment or home loan payment as some call it you can be facing foreclosure. No one wants to deal with foreclosure