• Home
  • Contact Us!
  • Privacy Policy

Radio Metta

  • Home
  • Business
  • Education
  • Health
  • Home Deco
  • News
  • Real Estate
  • Technology
  • Contact Us!
  • Privacy Policy
Home» Real Estate»Rents now top list of fastest-rising prices

Rents now top list of fastest-rising prices

Saheli 22 Jun 2016 Real Estate Comments Off on Rents now top list of fastest-rising prices 314 Views

A real estate agent with potential homebuyers in Mackinaw, Illinois

The cost of food, clothing and transportation has only been inching up slowly in the last year, helping American households make ends meet.

But for renters, the pressure on their paychecks keeps rising.

The latest sign came from the government’s monthly report on the consumer price index, which breaks out the change in cost of major spending categories. Last month, for the second month in a row, the annual rise in rental income approached 4 percent, nearly four times the overall inflation rate of just 1 percent for the last 12 months.
The surge in rental prices has eased a bit in recent months, but the forces driving rents higher remain in place, according to a recent analysis by real-estate-market researchers at Trulia.

Simply put: It’s gotten harder in the last four years for many renters to buy a house, even though homeownership turns out to be a better deal in many markets around the country.

Over the last four years, while the supply of pricier homes has increased, the number of starter homes on the market dropped by 44 percent, Trulia said in its last quarterly inventory report. During the same period, the number of midrange “trade-up” homes on the market fell by 41 percent.

“Consumers are increasingly worried about tight inventory when finding a home, and rightly so,” said Ralph McLaughlin, chief economist at Trulia. “Low inventory has been, and will continue to be, a strong headwind for househunters.”
With inventory shrinking, home prices are rising — up more than 30 percent since 2012 in the starter-home price range. That’s made homebuying even less affordable for first timers; the median starter house consumes about 38 percent of the typical first-time homebuyer’s income, up from 32 percent four years ago, Trulia estimates.
With inventory shrinking, home prices are rising — up more than 30 percent since 2012 in the starter-home price range. That’s made homebuying even less affordable for first timers; the median starter house consumes about 38 percent of the typical first-time homebuyer’s income, up from 32 percent four years ago, Trulia estimates.
Rising rents are hitting lower-income households hardest, according to a recent analysis by the Pew Charitable Trusts.

Over the last 20 years, housing has consumed a bigger share of the typical American household’s budget at all income levels. But while those in the lower third spend less in dollar terms than those higher on the income ladder, they spent a much bigger share of their income than other households that rented.

fastest-rising list Now of prices Rents top 2016-06-22
Tags fastest-rising list Now of prices Rents top
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : Saheli
Previous Article :

On the shoulders of giants: how Newton built a lasting legacy

Next Article :

US housing starts total 1.16M in May vs. 1.15M expected

Related Articles

115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads

115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads

admin 02 Aug 2025
Our comprehensive list of 135 topics for real estate blogs

Our comprehensive list of 135 topics for real estate blogs

admin 13 May 2025
Why some houses sell more quickly than others

Why some houses sell more quickly than others

admin 07 May 2025

Latest Post

Gaming Your Way to Sharper AI Prompts
Technology

Gaming Your Way to Sharper AI Prompts

admin 07 Aug 2025
15 Elegant Living Room Hanging Lights
Home Deco

15 Elegant Living Room Hanging Lights

admin 04 Aug 2025
115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads
Real Estate

115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads

admin 02 Aug 2025
Quitting vaping: the health reasons why you should give up vaping
Health

Quitting vaping: the health reasons why you should give up vaping

admin 30 Jul 2025
5 tips for getting started with Flow
Uncategorized

5 tips for getting started with Flow

admin 26 Jun 2025
Acidity Problems?  21 Home Remedies That Can Be Beneficial
Health

Acidity Problems? 21 Home Remedies That Can Be Beneficial

admin 06 Jun 2025
Cross-skilling: How to maintain government efficiency amidst change
Technology

Cross-skilling: How to maintain government efficiency amidst change

admin 21 May 2025
August 2025
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
  • Home
  • Contact Us!
  • Privacy Policy
Copyright 2016, All Rights Reserved
Magazine Blog News WordPress Theme