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Housing Dilemma

The opinions expressed by columnists are their own and do not necessarily represent the views of

Existing Home Sales came in slightly below forecast in part to the ongoing supply issue. As a result, median home prices climbed 7.5% from last February to $202,600. This marks 36 straight months of home price increases as 1.8 million homes is equivalent to 4.6 months of demand.


However, another part of the problem has been a lack of demand. In fact, lending standards and mortgage interest rates have plummeted because demand has weakened.

Thus, here’s the dilemma for renters: they’re pouring more money into a pad they don’t intend to own. When the rate of pay increases, mortgages also increase in the same town.


In some places, the difference between pay and rent is even more obscene:

  • New York rent +50% (last year) - paychecks up +8%
  • Seattle rents surged 32% - paychecks up 15%
  • Nashville rents climbed 19% - paychecks up 14%

Moreover, I continue to say it's all about ownership from a business, to your home and investments. 

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