Aren’t wages up 4% from last year? The $349/mo is $4,200/yr. That’s quite a bit less than the annual pay increase for dual income couples making $200k+ that can afford $1M home. Their pay increase should be $8k+. Considering the stock market is just off all-time highs, they are probably feeling confident.
Inventory is moving quickly again. 2017 will be a good year for housing, but still I do not expect much appreciation in BA, mainly due to affordability.
My salary increase in 2016 was 2%, my wife’s salary did not have any increase at all.
Just curious how did you come to this 4% number??
There are some advantages to owning townhouses. One of them is when interest rates go up, people that can no longer afford SFRs will have to consider them instead.
In the beauty that is big government, the federal reserve, BLS, and DOL all publish data on it. Everyone was crowing about the 4% increase right before the election, because it was a huge increase.