Archived U.S. house prices to rise at twice the speed of inflation and pay (reuters.com)
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Archived U.S. house prices to rise at twice the speed of inflation and pay (reuters.com)
submitted ago by daskapitalist
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[–] derram ago
https://archive.fo/Myifw :
'According to the poll the average 30-year mortgage rate will rise to 4.60 percent by year-end and then touch 5.0 percent by end-2019. '
'(Reuters) - An acute shortage of affordable homes in the United States will continue over the coming year, according to a majority of property market analysts polled by Reuters, driving prices up faster than inflation and wage growth. '
'Annual average earnings growth has remained below 3 percent even as house price rises have averaged more than 5 percent over the last few years. '
'But supply has not been able to keep up with rising demand, making homeownership less affordable. '
'That is well below the peak of 7 million units averaged during the previous housing market boom, which will keep prices elevated and make housing less affordable. '
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