by John Bailo ➕follow (0) 💰tip ignore
Seems to me the underlying trend is not increasing house prices so much as decreasing purchasing power of the dollar.
What we see here is
2012 1 Year Change 3 Year Change Median Gross Rent $884 -0.23% -1.23%
http://www.deptofnumbers.com/rent/us/
So gross rent has gone down from the peak of 2008.
Yet, rent is taking a higher proportion of income.
US Median Annual Rent as a Fraction of Median Household Income
2012 1 Year Change 3 Year Change US Median Annual Rent as Fraction of Median Household Income 20.65% -0.05% +0.53%
So, the absolute numbers for rent are down, but the value of our jobs, has become less than those declines.
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Seems to me the underlying trend is not increasing house prices so much as decreasing purchasing power of the dollar.
What we see here is
2012 1 Year Change 3 Year Change
Median Gross Rent $884 -0.23% -1.23%
http://www.deptofnumbers.com/rent/us/
So gross rent has gone down from the peak of 2008.
Yet, rent is taking a higher proportion of income.
US Median Annual Rent as a Fraction of Median Household Income
2012 1 Year Change 3 Year Change
US Median Annual Rent as Fraction of Median Household Income 20.65% -0.05% +0.53%
So, the absolute numbers for rent are down, but the value of our jobs, has become less than those declines.