28 Feb Wage growth is great, but it can raise the homeownership barrier
On Monday First American released its latest Real House Price Index, which showed that real home prices increased 0.4 percentage points month-over-month and year-over-year in December. Furthermore, real house prices are 37.1 percent below the housing boom peak in July 2006.
Consumer house-buying power, which is how much one can buy based on changes in income and interest rates, also increased 0.1 percent month-over-month and 5.6 percent year-over-year, thanks to a 2.9 percentage point rise in average hourly earnings.
Read More Via Inman.com
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