Morning Minute: Three Illinois cities make most affordable housing list

The Illinois cities of Rockford, Decatur and Springfield were among the top five U.S. metro areas with the best housing affordability conditions in the final quarter of 2013, according to the National Association of REALTORS® (NAR). The other cities on the list were Toledo, Ohio and Lansing-East Lansing, Mich.

NAR’s Housing Affordability Index looks at the relationship between median home prices, median family incomes and the average mortgage interest rate to determine affordability. At the other end of the spectrum, the five least affordable communities included Honolulu and four cities in California. Read more.

In other headlines:

Bad weather hammers housing starts, again – USA Today

Student debt may hurt housing recovery by hampering first-time buyers – Washington Post

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