Learn more about current events and trends that may affect your industry in this week's round-up!
- Home Prices Rising Twice the Speed of Inflation and Pay
A shortage of homes in the U.S. is driving up prices twice as fast as inflation and pay, with house prices averaging 5% growth and earnings growth staying below 3%.
- 50% of Housing Markets Were Overvalued in April
With a 6.9% price jump nationwide, more than half of the largest U.S. markets were considered overvalued in April, including Houston, Miami, New York, Las Vegas and Los Angeles.
- Chicago Leads the Nation in Underwater Homes
A recent study has found that while most of the country has rebounded from the housing crisis, Chicago has more underwater houses that any other metro area.
- Rust Belt Cities See Epidemic Levels of Vacant Buildings
“Hypervacancy” stretching over blocks of neighborhoods has reached epidemic levels in formerly industrial cities in the Rust Belt.