Wow, new home sales suddenly near a nine year high. I find the median home price to be shocking:
The median price for a new home slipped 0.5 percent from a year ago to $294,600.*
To buy such a home, I think you should earn over $92,000/yr to buy a home at the median price; however, an online calculator says you can do it with an income of $55,200** that is somewhat more than the median HOUSEHOLD income that was a bit more than $53,000/yr in 2014, the most recent figure available***
* http://www.cnbc.com/2016/08/23/new-home-sales-for-july-2016-reported-by-the-commerce-department.html
** http://michaelbluejay.com/house/howmuchhome.html
*** http://www.deptofnumbers.com/income/us/
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