Homes in the Valley and across the nation grew more affordable in the first quarter thanks to low mortgage rates. The National Association of Realtors released its quarterly Affordability Index on Thursday, which rose nearly 4 percentage points to a 30-year high at 144.

The Chandler City Council could ratify an agreement Thursday to form a land trust wherein the city would buy up to 17 foreclosed homes and turn them into affordable housing.

Chandler could begin buying up foreclosed homes by the end of the year and start turning them into affordable housing.

Families earning the national median income of $61,500 could afford to buy 53.8 percent of all new and existing homes sold across the country in the first three months of 2008.

South Scottsdale residents feel frustrated at being ignored by city government, a sentiment that sometimes erupts in incidents like a Thursday forum in which some questioned how developers intend to keep “Mexicans” out of an affordable housing project, according to two City Council members.

With home prices that far outstrip the average worker's wages, Scottsdale may have to resign itself to having a commuter work force and all the economic and transportation problems that go along with it, according to city officials and business leaders.

The lack of affordable housing in the Valley is a growing concern that could ultimately hurt the region’s ability to develop further, a housing expert said Tuesday.

A New Leaf is moving forward with the La Mesita Project, an affordable, supportive housing initiative in Mesa that will include 80 mixed-use apartments and 16 emergency homeless shelter units with onsite services, community space and light-rail transportation adjacent to the property.

Pinal County residents, even those with decent-paying jobs, are struggling to find affordable housing, officials say.

The tenants of the cityowned Escobedo Apartments are forming a committee to explore future affordable housing options for the property, said Pam Wilson, an Escobedo resident.

The newest neighbor to SkySong, billed as a hightech research park that will help revitalize south Scottsdale, is a nonprofit group that plans to use tax dollars to help build rentcontrolled housing.

The newest neighbor to SkySong, billed as a hightech research park that will help revitalize south Scottsdale, is a nonprofit group that plans to use tax dollars to help build rentcontrolled housing.

The Valley hit a record low for its affordability of housing last year, according to figures released Friday by the Arizona Real Estate Center at Arizona State University Polytechnic.

The newest homebuilder in Chandler is the city itself.

Scottsdale and East Valley home prices continued to escalate in 2002, but record-low mortgage rates are keeping homes affordable in most communities.

When the phone rings in Pierre Metivier's Gilbert home, a computerized voice tells him which line to answer. "The house talks," he says. "On Sundays it tells me to take out the green garbage."

Rising home prices across the Valley have created a windfall for homeowners, but as owners seek to capitalize on appreciation, many are finding homes more difficult to afford.

Rising home prices across the Valley have created a windfall for homeowners, but as owners seek to capitalize on appreciation, many are finding homes more difficult to afford.