The National Association of Home Builders in conjunction with Wells Fargo compiles a housing affordability index called
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(a) Estimate the HOI in the ï¬rst quarter of 1999 (Q1/99).
(b) What was the lowest value of the HOI (meaning homes were least affordable)? In what year did this occur?
(c) What was the highest value of the HOI? In what year did this occur?
(d) Determine the percentage decrease in the HOI from the ï¬rst quarter of 1999 to the third quarter of 2006.
(e) Determine the percentage increase in the HOI from its low to its high.
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a The HOI in the first quarter of 1999 is about 70 b The lowest val...View the full answer
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