Are Rising Home Values Restraining Homebuying for Lower-Income Families?

Posted: 16 Oct 2017

See all articles by Neil Bhutta

Neil Bhutta

Federal Reserve Bank of Philadelphia

Steven Laufer

Board of Governors of the Federal Reserve System

Daniel Ringo

Board of Governors of the Federal Reserve System

Date Written: September 28, 2017

Abstract

Since bottoming out in 2012, house prices in the U.S. have recovered rapidly. According to Zillow, the median home value has been growing about 6 percent per year. While incomes have also been recovering, they have not quite kept pace with home prices.

Suggested Citation

Bhutta, Neil and Laufer, Steven and Ringo, Daniel, Are Rising Home Values Restraining Homebuying for Lower-Income Families? (September 28, 2017). FEDS Notes No. 2017-09-28-2 https://doi.org/10.17016/2380-7172.2078, Available at SSRN: https://ssrn.com/abstract=3713412

Neil Bhutta (Contact Author)

Federal Reserve Bank of Philadelphia ( email )

10 Independence Mall
Philadelphia, PA 19106
United States

Steven Laufer

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States
202-475-6608 (Phone)
202-728-5889 (Fax)

Daniel Ringo

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

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