Home Values On Demand
Perhaps no single issue is as important to today’s real estate economy as affordability of both ownership and rental housing. High prices have made it difficult for first-time buyers to become homeowners even though record high rents are providing plenty of incentive. The result is that housing prices are a the top of many families’ agendas and big issues with millions of voters this election season.
Home prices have been rising steadily for more than four years. Since 2012, prices have risen roughly 40 percent, according to CoreLogic. From 2012 through 2015, US median incomes rose only 10 percent. Incomes are finally improving, but they have been depressed for seven years. This is the first annual increase in median household income since 2007, the year before the most recent recession.