Greetings neighbors,

Wondering if you can afford a home these days? Well according to a recent joint report from the National Association of Home Builders and Wells Fargo, over 70% of U.S. homes are affordable right now.

During the last quarter of 2009, 70.8 percent of new and existing homes sold were said to be affordable to American families earning the national medium income of $64,000 according to the Housing Opportunity Index (HOI). This number is slightly higher when compared to the previous quarter, however close to the record number of 72.5 percent during the first quarter of last year.

Decreased housing prices in conjunction with lower mortgage rates have contributed to this record year of housing affordability. As for the most affordable metro cities, the report named: Detroit-Livonia-Dearborn, Mich.; Dayton, Ohio; Youngstown-Warren-Boardman, Ohio-Pa.; and Akron, Ohio.

As for the least affordable Metro cities, the report named: San Francisco; Honolulu; Santa Ana-Anaheim-Irvine, Calif.; Los Angeles-Long Beach-Redwood City, and New York-White Plains-Wayne, N.Y.-N.J. coming in at number one.