The 'House Rich' And The 'Break-Evens'
Rapid housing appreciation on the coasts has helped buoy the economy, but in many parts of the country, housing appreciation barely keeps up with inflation.
"...while the [housing] boom has become the subject of daily conversations among the middle class and affluent in New York, San Francisco and Los Angeles, people in much of the country have little housing bounty to tap for home improvements, retirement or other needs. From Fort Wayne to Rochester to Salt Lake City, the prices of typical homes across most of the country's vast middle have risen just ahead of inflation and more slowly than incomes."
Thanks to Marc Brambrut
Full Story:
Published on Wednesday, August 6, 2003 in
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