March 29, 2016

THE ECONOMY ISN'T GOING TO BE AN ISSUE:

Case-Shiller shows 5.7 percent increase in US home prices (JOSH BOAK, 3/29/16, AP)

The Standard & Poor's/Case-Shiller 20-city home price index rose 5.7 percent from a year earlier, a slight increase from the 5.6 percent annual increase in December, according to a report Tuesday.

"The pace of U.S. home value growth has been picking up bit-by-bit over the past few months, driven in large part by stubbornly low inventory in most markets that creates competition and drives up prices for those homes that are available," said Svenja Gudell, chief economist at the real estate firm Zillow.

Home values have risen 2.6 times faster than average hourly wages, which have improved just 2.2 percent, according to a government report earlier this month. Tight supplies of homes on the market have fueled much of the price growth, as low mortgage rates and steady hiring have sparked demand.

We're gonna need a heck of a lot more immigrants to build them


Posted by at March 29, 2016 7:11 PM

  

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