Defining the "Affordable" Home

August 3rd, 2010
By Scott McGillivray From Friday's Globe and Mail Published on Thursday, Jul. 22, 2010 3:04PM EDT Last updated on Thursday, Jul. 22, 2010 6:20PM EDT “Affordability” is one of those familiar buzzwords in the world of real estate. But the affordability index is a fantastic metric. The affordability index is the home purchase price divided by the gross household income. The result ...