The Real Deal Miami

Will 2011 be the end of the housing bust?

March 01, 2011 06:16PM

The housing market is seeing “affordability levels… that we’ve not seen in 35 years, with prices relative to incomes,” Simon Constable tells Kelsey Hubbard of the Wall Street Journal in the video above. While it used to be that two years of income was needed to buy a house, prices have become “really affordable,” Constable said, and it now takes 19 months of income to make a purchase. Another factor that is contributing to the affordability in housing is that “banks are actually lending money, which is great, because they weren’t doing that for a while,” Constable said.