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Pandemic's Disproportionate Effects on Housing Supply, Affordability
Thursday, June 4, 2020
The Urban Institute says that homes categorized
as low priced, that is in the bottom 20 percent of the distribution, appreciated
126 percent between the turn of the century and the end of 2019. During that
same 20-year period, those in the top 20 percent of the price distribution
increased only 87 percent.
An analysis of 285 metropolitan
statistical areas (MSAs) by Jung Hyun Choi, John Walsh, and Laurie Goodman found
that rapid employment growth combined with supply constraints from zoning and
other regulations was one driver of this disproportionate price growth on the
low end.
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