Housing Costs Are Rising Quicker Than Home Values
After the Great Recession, housing prices have exploded in America but there is one silver lining: average home values have also decreased by 15% when factoring in inflation, compared to previous rises in cost.
This is particularly concerning for those who want to move and financial advisors often bring downsizing into the discussion. Harvard University’s Joint Center for Housing Studies has issued a report in which they’ve found that 39 million Americans spend more than they can afford on housing, which makes it clear that this issue is not easily fixable.
