U.S. Banking and Housing

The number of bank closed by regulators due to an inability to meet their financial obligations has fallen steadily since 2009: 25 (2008), 140 (2009), 157 (2010), 92 (2011), 51 (2012), 16 (June 2013). Housing prices remain affordable, as shown by the Housing Affordability Index (source: National Association of Realtors). The Index means a family with a median annual income has enough money to qualify for a mortgage on a median-priced home (a 20% down payment).

For example, an index reading of 100 means the family has exactly enough money to qualify for a down payment; an index reading of 120 means the same family will need an additional 20% more to qualify for a loan. The index is calculated using a composite of fixed and adjustable-rate mortgages.

Housing Affordability Index