Many real estate analysts say that increases in home prices and mortgage rates have started to slow the housing recovery.Now RealtyTrac has put a number on the toll those changes have taken on affordability. And it's not pretty.Twenty-one percent.That's how much the data aggregator says the monthly payment for a median-priced three-bedroom home purchased in the fourth quarter of 2013 increased from the year before.The cost of owning a home is "becoming dangerously disconnected with still-stagnant median incomes," as deep-pocketed investors -- "who are not tethered to typical affordability constraints" -- drive prices up to levels that many financed owner-occupant buyers cannot handle, RealtyTrac Vice President Daren Blomquist said in a statement.“One simply needs to look at the minimum income needed to qualify for a median-priced home in some markets to realize the extent of the disconnect between prices and incomes,” he said. “For example, in Los Angeles Cou...
by Ingrid Burke | 4 days
by Inman | on Feb 14, 2017
by Gill South | 3 days
by Andrea V. Brambila | on Feb 19, 2014
by Teke Wiggin | on Feb 11, 2014
by Teke Wiggin | on Feb 4, 2014