Pilm

Home Sales Surge 5.1%..err...Drop 4.5%

An average home price of $165k becomes quite affordable with 4% interest rates and the gov't paying $8k for a downpayment. You only need to make $30k a year for that. Problem is there really aren't any $165k homes near places with good jobs (unless you want to live in an inner city slum area), so reality is, if you live in a place with good jobs and desire a home in a place where you don't need to carry a gun to visit the grocery store, you'll still need to pay > $400k for a reasonable home.