US home affordability looks to be the worst
Living by the beach is becoming even more cost prohibitive. While many Americans know about the sky-high costs of housing in New York City or Seattle, affordability is increasingly the worst in areas where the wealthy vacation and a large share of local workers cater to their needs. The trend taps into the worsening economic inequality that is reshaping American society. Roughly 78% of U.S. metro areas have seen home prices rise faster than wages, according to an agencies analysis of home values tracked by CoreLogic and government income data. Of the top 10 communities with the biggest gaps between home values and incomes, half were seaside. But there were also places with a growing concentration of highly-paid tech jobs.
Tags : INTERNATIONAL