After 19 months straight of year-over-year median existing-home sales price increases, is there anywhere where prospective homeowners can find a home for a reasonable price? According to one recent study, the Motor City is where they’ll have the best bet.
This study from luxury bathroom company Badeloft USA , found that Detroit is the easiest city in the U.S. to buy a home in. To come to this conclusion, the study looked at housing affordability across major U.S. cities and analyzed them based on four key metrics: average house prices, monthly net salaries after tax, basic living costs such as housing and utilities, and disposable income.
“The final ranking orders cities by these saving timelines, with Detroit’s 2.6 years establishing the benchmark for affordability,” said Badeloft USA. That’s the amount of time it would take to save for a home…