Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

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 ...