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 ...