The Denver Business Journal ran a story in December titled "An average worker can't afford a median-priced home in the Denver metro." The DBJ quoted a survey done by ATTOM Data Solutions in its 4th quarter U.S. Home Affordability Report. The major FLAW in this report was they assumed that a household only had 1 employed person. Thus, in 5 counties that 1 worker would have to spend more than 40% of their monthly income to afford a median priced home with 3% down. This makes housing look very unaffordable.
But, what's reality? The reality is this...a large majority of households have 2 income earners in them in metro Denver especially when people are buying their first home. And with 2 incomes their house payment is most likely AFFORDABLE. This is why details matter!
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