The Housing Market’s Income Inequality

Data from the U.S. Census shows that the biggest gain in sales of new homes was for properties costing $500,000 and up, while sales of the most affordable houses dropped 11.4 percent.

“What remains to be seen is whether sales of more expensive houses will continue outpacing the broader market,” Real Estate blogger Johnathan J. Miller writes for Bloomberg View.

“It seems as though all builders are trying to cash in on the same part of the market at the same time,” he adds. “This is keeping new lower-priced housing in short supply.”

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