The Most Affordable Time In U.S. History?

What is affordability? Affordability is a combination of average US wages, average home  sales prices and average 30 year fixed mortgage rates.  Today in 2011 housing is more  affordable than EVER in the history of the USA. It’s NEVER been this affordable to own a  home.  The chart below shows just where we are in the real estate market.  In 2006  everyone thought it was safe to buy and was comfortable overextending themselves.   Today folks are scared and are making decisions off of fear not the numbers, not the facts. This might not be the right time for you or your family, the reality of your finances might not allow it.  But if you are making a decision based on fear and not the facts, you could me  making a mistake by waiting.