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CNN claims most homes affordable

Posted by: VHFA on May 21, 2010 - 9:36am

A news headline we spotted yesterday took us by surprise: According to CNN.com, "Nearly 75% of homes are affordable."

A closer examination of the story reveals a couple of key conditions to their definition of affordable: "Nearly anyone with a decent job and a good credit score [our emphasis] can afford to buy ..."

The story caught our attention as we put the finishing touches on this year's "Between a Rock and a Hard Place: Housing and Wages in Vermont," our annual report on the state of Vermont's housing costs in relation to wages.

Watch for details on Vermont's housing affordability situation when we publish that report in a few weeks.