July 29, 2016
GONNA NEED A LOT MORE IMMIGRANTS TO BUILD NEW ONES:
Home prices have finally recovered from the housing crash (Kathryn Vasel, July 28, 2016, CNN Money)
The median home price in the U.S. was $231,000 last month, according to a report from ATTOM Data Solutions (formerly RealtyTrac). That's 9% higher than a year ago and 1% above the previous record of $228,000 hit in July 2005.Median home prices have be rising on a national level every month for more than four years, and it's created an affordability issue in many housing markets.Last month, sellers sold their homes for an average of $41,000 more than their purchase price. [...][T]here is some good news for buyers: interest rates have remained low."The price you can afford goes up every time rates go down," Blomquist said.
Posted by Orrin Judd at July 29, 2016 4:04 PM