Redfin CEO Glenn Kelman: Buyers will relocate in search of affordable housing

Redfin CEO Glenn Kelman, hit by insights gained during a recent visit to rapidly-growing Houston, thinks 2014 will be marked by increased willingness among buyers to relocate in search of affordable housing.

The trend “is accelerating because, for the first time in a generation, home prices are increasing faster than wages or credit,” Kelman wrote in a post on LinkedIn. “When home prices first began outstripping incomes in 2000, easy credit made up the shortfall.”

Source: LinkedIn