The general trend of torrid housing market growth fueled by low interest rates and a tight supply continued largely unchanged during the last quarter of the decade, as most expected it would. Though buyers who have struggled with highly unaffordable home prices in recent years did see a bit of a respite.
On Wednesday, Attom published its Q4 2019 report on home affordability in the US. The report showed that the dominant trend of the past few years was still very much in place. To wit, the median home prices in the fourth quarter of 2019 were unaffordable for average wage earners in 344 of 486 - or 71% - of the counties analyzed in the report.
To be sure, some slight progress was made: the figure was down from 73% in the prior quarter, and 75% during Q4 2018.
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There are too many US Dollars in circulation and price inflation is always the result. Fiat currencies always reach their true value, which is zero.
ReplyDeletePeople also want far more house than they NEED.
ReplyDeleteNot to sure about houses out of reach for alot of Americans. My opinion - this generation is not one that wants to take on responsibility. They want others to do their daily tasks - grocery shopping; cooking; cleaning; driving - all which cost alot if money. No place for saving. Instant gratification. Leaves no room for buying a house. If I had a lot of disposal money I would be buying all the property worth buying because the interest rates are so low. An investment which we all know will come around again and make you millions. Lazy millennials are the problem - not house shortage.
ReplyDeleteThank dem's for pushing SOCIALIST LAZY BASTARDS.
ReplyDelete7:45
ReplyDeleteDon’t you fear a collapse of home prices when the currency loses value worldwide? Aren’t the odds in favor of the loss of Reserve Status for the US Dollar.
To 7:10 AM----are you the one who determines what one 'NEEDS"???? If my history teachings remind me, some of the whack-jobs who determined in the past what others "NEED" were known as Stalin, Lenin, Marx, Mao and many more, along with those who are trying real hard and exist today----and in this country, "Bernie, Biden, Buttagegegeggegegegegeegee--whatever, Warren, Bloomberg, Castro (odd and prescient name) Yang, and a whole cast more. Let the person decide what they "need" and if it works--great. If it doesn't, don't make others pay for it as has been the path taken by government idiots in the fairly recent and longer term past. You gamble and screw up is your freedom provided by this great country. It is your screw up to pass on as YOUR legacy to your progeny, not mine. The one thing that distinguishes us from other governments is that we have the "RIGHT" to F'-up. But it needs to be at your personal expense, not the multitudes of others in this country. However, I do consider my self gracious enough to pee on you if I ever come across you while you are on fire. GOD BLESS AMERICA--land of the free.
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