The beginning of 2021 has seen home prices continue to climb to new record-breaking heights, with prices rising in almost every major metro area.
While that has boosted value for many homeowners, it has made buying a home ridiculously hard for buyers.
In 99% of metro areas tracked by the he National Association of Realtors, prices in the first quarter of 2021 increased over the same period last year, according to a NAR report. Nationally, the median sale price for existing homes climbed 16% from the first quarter of 2020 to $319,200, both record highs since NAR began tracking city data quarterly in 1989.
For the vast majority of American’s QE has been a dismal failure. Stock gains for the average guy were offset by losses in real estate. There was no wealth affect there.
Posted in News and Views, Op-ED
Tagged business, Depression, economic crisis, economy, financial crisis, financial institutions, funding, home prices, housing, real estate, real estate collapse, Recession