ML-Implode News - U.S. Home Prices Are SurgingÂ 13 Times Faster ThanÂ Wages

In many markets, the housing recovery has "largely been driven over the last two years by buyers who are not as constrainedÂ by incomes -- namely the institutional investors coming in and buying up properties as rentals, Â and international buyers coming inÂ and buying, often with cash," Daren Blomquist,Â vice president at RealtyTrac and author of the report, said in an interview...
With the economy improving and home prices climbing, central bankers seem to have achieved at least part of their goal. However, investors have reaped much of the benefits of rising prices, while meaningful wage growth -- and with it the ability of many Americans to buy homes -- has yet to materialize. That's been one reason housing has posted such inconsistent progress over the past two years, even with mortgage rates near historical lows.

Relevant:

U.S. Home Prices Are SurgingÂ 13 Times Faster ThanÂ Wages