How does this disconnect end?
Updated read on home prices:
Still increasing by nearly 7% per year (per this morning’s Case Shiller report.)
Longer-term perspective:
home prices have far outpaced income growth over time, making home ownership nearly impossible for many households.
Sidenote:
The biggest frustrating we hear, by far, from early career professionals relates to how—despite lucrative career paths—they fear they won’t be able to own a home until their late 30s.
Quick poll:
How does this get settled?
A) Imminent decline in home prices.
B) Long-term decline in home prices.
C) Imminent increase in incomes.
D) Long-term increase in incomes.
E) People will just put more of their income toward housing indefinitely.
COMMENTS