Friday, 3 April 2015

The Rising Unaffordability of Houses in the US

A recent report from RealtyTrac, based on surveys taken between 2012 and 2014, says that the growth in home prices is almost 13 times the growth in wages in the United States. Out of 184 surveyed cities, 76% have house prices increasing more rapidly than wages. In some real estate markets, the difference is insanely large. For instance, in Merced, California the house price growth rate is 141 times the wages growth rate.

Read out this post to know what experts have to say about the cause and effect of this drift. Also check out the five cities in the States with largest gap between the growth rates of wages and house prices.

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