Show Buying More Expensive Homes m With incomes such as they are how much can the average Davis County family prudently afford to spend for a HOW BIG a load may it take on in the form of monthly carrying costs without getting The questions are pertinent at this time because many local families are in the market for new have been house hunting for a long time but have been unable to get what they The selection was small and the prices the situation has SOME guidelines on home buying for families in various income brackets come from the Federal Housing the American Bankers Association and In they say that the cost should not be much greater than twice the family's annual Those 1 with small incomes sometimes have to go as high as times their On the other those in the upper brackets may spend only times their income to obtain suitable On that County families whose incomes are close to the local average are in a position to buy more expensive housing than families in many other THAT IS because the local average is relatively amounting to approximately gross per according the latest Elsewhere in the United the average family would be limited to in the Mountain to MANY DAVIS County families have earnings that are well above the norm and others have Those in the upper ranges can afford more expensive at the same time using a smaller proportion of income in doing As a guide to carrying including mortgage maintenance and the latest report shows that the average purchasers of homes bought with mortgages insured by the took on monthly payments equal to nearly one-fifth of their Because of the tight market in recent houses have gone up steeply in In Davis the median price rose 33 percent in the past 10 |