America's Unequal Housing Recovery

Home prices are rising throughout the U.S., signaling a sustained recovery of the housing market. But declining homeownership rates and record levels of burdensome housing costs point to a recovery that's only benefiting some Americans.
June 27, 2013, 2pm PDT | Jonathan Nettler | @nettsj
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"Driven by rising home prices and growing demand, the U.S. housing recovery is well underway," finds the latest State of the Nation’s Housing report released by Harvard's Joint Center for Housing Studies

"While still at historically low levels, housing construction has finally turned the corner, giving the economy a much-needed boost," says Eric Belsky, the Center's Managing Director. "But even as the recovery gains momentum, millions of homeowners are still delinquent on their mortgages or owe more than their homes are worth, and severe housing cost burdens have set a new record."

"Given the profoundly positive impact that decent and affordable housing can have on the lives of individuals, families, and entire communities, efforts to address these urgent concerns as well as longstanding housing affordability challenges should be among the nation’s highest priorities," he concludes.

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Published on Wednesday, June 26, 2013 in Housing Perspectives
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