Monday Morning Cup of Coffee takes a look at news crossing HousingWire’s weekend desk, with more coverage to come on bigger issues.
As Independence Day festivities slide into the rearview mirror, it’s time for a sobering look a the housing industry, and Sober Look takes just that, looking at why home price gains have slowed.
One of the reasons cited is the continuing weakness in wage growth. As they note, the latest data seem to indicate that in spite of the overall improvements in job creation, wage growth remains subdued – hovering around 2% per year over the past three years or so.
Click the graph below to enlarge.
“And wage growth is a key determinant in home price valuation. Merrill Lynch for example shows that current home prices may already be above where they should be, based on Merrill’s fair value index that is driven to a large extent by wages,” the report says.
read more….
http://www.housingwire.com/blogs/1-rewired/post/30553-monday-morning-cup-of-coffee-the-greatest-threat-to-the-housing-industry
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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