Thanks to the Great Recession's magical cleansing powers, all of the home ownership gains of the past decade's housing boom have already been erased. But there is good news! The affordability of homes has plummeted back down to pre-boom levels in the majority of markets that Moody's surveys. Finally, a home is back in your non-imaginary price range!

"Based on incomes, this is as affordable as it gets," said Mark Zandi, chief economist at Moody's Analytics. "If you can get a loan, these are pretty good times to buy."

You can't get a loan though.

[WSJ. Photo: Jeff Turner/ Flickr]