According to research done by the analyst firm Global Insight and National City Corp, the difference between the actual value of homes and their selling worth has now hit its largest gap since 2004. Their study has shown that over 88% of the 330 housing markets they surveyed, showed large price declines, of course improving affordability in buying a home.

The top economist for National City Corp, Richard DeKaser has said that this degree of affordability is "the best in the past four years.", and that the prices could get even lower.

Of course, this is not exactly a bright light, because while it means homes are more affordable to buy, it does mean the seller gets a pretty raw deal.

The study has also shown that some of the best affordability results were in California, Florida , and Michigan. These states were hit very hard by the latest crop of foreclosures and are registering as 43 out of the 50 highest price declines.