Last quote by Ralph McLaughlin
Ralph McLaughlin quotes
As your income goes up you tend to buy a bigger house or add more space and that increases the value of your house.
Many of the metros that saw the highest income growth have been in places that have been slow to recover from the recession.
June represents the fifth straight month of flat or decreasing year-over-year price gains, but homebuyers are still being challenged as prices outpace income growth.
Homebuilders continue to thrive on healthy demand while homebuyers remain stifled by anemic inventory.
While the millennial homeownership rate continues to decline, it's important to note that the decrease could be just as likely due to new renter household formation as it is their ability to buy homes. Certainly low inventory and affordability isn't helping their efforts to own, but moving out of their parents' basement and into a rental unit is also a good sign for the housing market.
May's existing home sales numbers suggest that healthy demand continues to support a recovering housing market, but that inventory woes are preventing a full recovery to pre-recession levels.
Many would-be young homebuyers tell us that saving up for a down payment and finding a suitable home are obstacles that are keeping them from buying a home, even though they aspire to do so.
A lack of starter home affordability is becoming problematic in places outside of California. Starter home affordability is down most in Oakland, CA, but is beginning to take a hit in Denver, Portland, Seattle, and central Florida.
Single family builders are slowly, but surely, gaining ground on what has been a strong four years for multifamily construction.
Consumers are increasingly worried about tight inventory when finding a home, and rightly so. Low inventory has been, and will continue to be, a strong headwind for househunters.
It's not a great situation.