According to the National Association of Home Builders, 70.8 percent of all new and existing homes sold in the final quarter of 2009 were affordable.  Families earning a median income of $64,000 can afford to buy homes last year.

The affordability of houses is attributed to the sliding housing prices and low mortgage rates.  The most affordable cities include Detroit/Livonia/Dearborn/Monroe/Flint/Bay City, Mich., Dayton, Ohio, Youngstown/Warren/Boardman, Ohio/Pa., and Akron/Lima, Ohio.  The least affordable housing markets include San Francisco, Honolulu, Santa Ana, Anaheim/Irvine, Calif., L.A./Long Beach/Redwood City, Calif., New York/White Plains, Wayne, San Luis Obispo/Paso Robles/Santa Cruz/Watsonville/Napa/Santa Barbara/Santa Maria/Goleta, Calif.,

Depending on where you want to live, now may be the time to invest in the housing market.  Potential buyers should look carefully at their debts because of its impact on their ability to purchase a home today.