Housing Just Got a Lot More Affordable

Here are the cities with the biggest increase in affordability:

Housing Cost as a percentage % of Homeowners Income (Peak to Current)

Metro Area Oakland, CA
Peak Date 2007-08
Peak Ratio 84%
Current Ratio 28%
% Change 67%

Metro Area Riverside-San Bernardino, CA
Peak Date 2006-07
Peak Ratio 68%
Current Ratio 25%
% Change 64%

Metro Area Sacramento, CA
Peak Date 2005-06
Peak Ratio 63%
Current Ratio 26%
% Change 59%

Metro Area Las Vegas, NV
Peak Date 2006-07
Peak Ratio 54%
Current Ratio 22
% Change 59%

Metro Area Phoenix, AZ
Peak Date 2006-07
Peak Ratio 46%
Current Ratio 19%
% Change 58%

Metro Area Los Angeles, CA
Peak Date 2007-08
Peak Ratio 102%
Current Ratio 45%
% Change 56%

Metro Area Miami, FL
Peak Date 2007-08
Peak Ratio 76%
Current Ratio 34%
% Change 54%

Metro Area Washington DC
Peak Date 2005-06
Peak Ratio 53%
Current Ratio 25%
% Change 53%

Metro Area Detroit, MI
Peak Date 2004-05
Peak Ratio 29%
Current Ratio 15%
% Change 49%

Metro Area Tampa, FL
Peak Date 2006-06
Peak Ratio 42%
Current Ratio 21%
% Change 49%