US home prices rising 2 times faster than wages

[tennisluvr]

U.S. home prices climbed in March at the strongest rate in nearly three year as a dwindling supply of houses for sale is causing prices to significantly outpace income growth.

The Standard & Poor's CoreLogic Case-Shiller 20-city home price index released Tuesday rose 5.9 percent over the past 12 months ended in March, the most since July 2014. Home values are increasing at more than double the pace of average hourly earnings, making it more difficult for many people to afford to buy a home.

"Over the last year, analysts suggested that one factor pushing prices higher was the unusually low inventory of homes for sale," said David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices. "People are staying in their homes longer rather than selling and trading up.

A steady job market has bulked up demand among many would-be buyers, but there are fewer properties on the market. Sales listings have plummeted 9 percent over the past year to 1.93 million, according to the National Association of Realtors. The shortage of homes to buy has caused prices to rise sharply in many metro areas.

The largest annual gain was in Seattle, where prices have surged 12.3 percent. Portland, Oregon recorded a 9.2 percent increase, while Dallas prices rose 8.6 percent.

Of the 20 cities in the index, the weakest gain was in New York City, an area where home prices are already high relative to median incomes. Home prices in New York City have risen 4.1 percent in the past year, still much higher than U.S. average hourly earnings that have increased 2.5 percent over the past 12 months, according to the Bureau of Labor Statistics.

[tennisluvr]

Bottom line, the bubble is getting ready to burst. 

Be ready for another catastrophic recession. 

[Idassamed]

2 minutes ago, tennisluvr said:

Bottom line, the bubble is getting ready to burst. 

Be ready for another catastrophic recession. 

SF bubble burst avvali nenu akkada illu konali

[tennisluvr]

3 minutes ago, Idassamed said:

SF bubble burst avvali nenu akkada illu konali

Burst ayithey most people will end up losing their jobs. 

Do you have money saved up to buy a house even if you lose your job? If so, you are good. 

[DaleSteyn1]

rents kooda baga perigay recent times lo avi kooda padali

[alpachinao]

6 minutes ago, DaleSteyn1 said:

rents kooda baga perigay recent times lo avi kooda padali

+1 chala baga periginay

[tennisluvr]

6 minutes ago, DaleSteyn1 said:

rents kooda baga perigay recent times lo avi kooda padali

This is a surprise because usually when the demand to buy homes increases, the rents go down. 

However since there's excess demand and a shortage of supply, rents have been creeping up. 

Even in a B grade city like Charlotte, a 2 bedroom house in the Uptown area(downtown is called uptown here) is apparently $3300/month. 

At this rate, homelessness is bound to increase. All in all, this is the best time to be in real estate business. Till the bubble bursts of course. 

[greensboro]

inko recession vasthe household lo atleast 1 person job lo layoff autharu. appudu mortgage payments kattukotaniki kashtam authundi.

seattle, portland, sfo lo unde desis ki impact untundi

[princeofheaven]

10 minutes ago, DaleSteyn1 said:

rents kooda baga perigay recent times lo avi kooda padali

+1 too much periginai, pittsburgh lo unappudu 2bhk 750 undedi ippudu 1100+

[Idassamed]

Anni perugutgayi but pay mathram akkade undi poyindhi 

[tennisluvr]

3 minutes ago, Idassamed said:

Anni perugutgayi but pay mathram akkade undi poyindhi 

Thanks to desi vendors, layers and of course H4 EADs ani @tom bhayya tolded

[TampaChinnodu]

34 minutes ago, Idassamed said:

SF bubble burst avvali nenu akkada illu konali

Tech companies and its employees making like miserable for non tech people.

[Spurthi]

35 minutes ago, Idassamed said:

SF bubble burst avvali nenu akkada illu konali

PM me when you lose the job man 

[mulakaya_123456]

On 5/30/2017 at 10:19 PM, DaleSteyn1 said:

rents kooda baga perigay recent times lo avi kooda padali

+1000Capsicums

[money_minded]

On 5/30/2017 at 10:47 PM, Spurthi said:

PM me when you lose the job man 

can you find me a job?