Matt from Queens

How Much Further Will Housing Fall?

I think doubledata has a point confused. Lenders believe no more than 28% of monthly income should be used for a mortgage payment, and that is what we are basing our argument on.

The point about the down payment is valid-we left that out of our consideration here because we are only looking at affordability.

We do however stand by the argument in the article-when 28% of median household income is equal to the monthly mortgage payment, that household will have a strong motivation to buy and housing will be in a bottom area.