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Nationwide Housing Affordability Study Includes Cumberland

February 22nd, 2012 by WCBC Radio

A new nationwide housing affordability study includes Cumberland on its list. As measured by the National Association of Home Builders/Wells Fargo Housing Opportunity Index, housing affordability rose to a record level during the fourth quarter of 2011, while prospective home buyers continued to feel the constraints of tighter credit standards and a soft economy. Among smaller housing markets, the most affordable was Kokomo, Ind., where 99.2 percent of homes sold during the fourth quarter of 2011 were affordable to families earning the median income of $59,100. Other smaller housing markets at the top of the index included Fairbanks, Alaska; Cumberland, Md.-W.Va.; Lima, Ohio; and Rockford, Ill.  Bill Chesno, with Carter and Roque Real Estate, talked with WCBC News about what the high ranking for Cumberland actually means…

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