Southside realtor Jason Royer speaks out again on the affordability of the Indianapolis market.  Substantiated by a recent Forbes.com article and information from the National Association of Home Builders, Royer asserts what everyone has been touting for months; houses are the most affordable they’ve been since 1991. The NAHB and its banking partner, Wells Fargo measure affordability by looking at how many of the homes purchased in any particular area would have had monthly payments of less than 28% of the local median incomes. (By the way, the NAHB and Wells Fargo assume all buyers would borrow 90% of the cash needed for the purchase and that they would get 30-year-fixed-rate mortgages.) 

 According to Royer, “Of course, some places are more affordable than others. Indianapolis, Ind., is the most affordable big city in the U.S.”   The article also offers suggestions that many realtors are hoping for:    “If you’re a renter, this might be a moment to drop into a few open houses and see how the cost of owning stacks up.”