E5TSAR SHORT
Home SportsEconomyBusinessTechnologyEntertainmentHeightsEnergy



Report: Income inequality grows as housing prices continue to jump
Business
Published in 23-6-2016
    1288 Visits

Rental demand is driving the housing market, income growth has picked up and the housing market has recovered, yet sinking homeownership rates, concentrations of poverty and slipping affordability will remain challenges, according to The State of the Nation's Housing report released Wednesday by the Joint Center for Housing Studies.

The annual report found that the national homeownership rate continues to fall. The rate was just under 64 percent in 2015. Chris Hebert, managing director of Harvard's Joint Center for Housing Studies, said tight mortgage credit, falling incomes and limited supply of housing has contributed to this trend, particularly for first-time homebuyers.

Reference: www.chron.com