Sunday, January 15, 2006

The Coasts are Not Affordable

From the Detroit Free Press

"If you live in the Midwest or South, chances are you own a home.

If you reside in the Northeast or far West, the odds are greater that the dream of homeownership might remain just that, a dream.

Data from the U.S. Census would suggest the culprit is historically high home prices and flat median incomes compared to the more affordable interior portions of the country.

An economic boom after World War II fueled a steady climb in overall homeownership rates from 55% in 1950 to a near all-time high of 69.1% in 2004."

More...

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