The chief economist of Fannie Mae is warning that housing affordability—or lack thereof—is going to put a damper on the housing market’s growth. A big factor in the strength of the market and the story for housing is very much tied to whether incomes increase, according to Fannie Mae’s analysis. Doug Duncan, chief economist for Fannie Mae, commented, “Our theme for the year is [that] housing affordability constrains as the expansion matures. Both rents and house prices are appreciating at pretty strong levels. And what is required is to see income growth, particularly at the medium and lower income levels.”
Wednesday, February 17, 2016
Fannie Mae: Housing market needs incomes to grow
Source: Yahoo! Finance
The chief economist of Fannie Mae is warning that housing affordability—or lack thereof—is going to put a damper on the housing market’s growth. A big factor in the strength of the market and the story for housing is very much tied to whether incomes increase, according to Fannie Mae’s analysis. Doug Duncan, chief economist for Fannie Mae, commented, “Our theme for the year is [that] housing affordability constrains as the expansion matures. Both rents and house prices are appreciating at pretty strong levels. And what is required is to see income growth, particularly at the medium and lower income levels.”
The chief economist of Fannie Mae is warning that housing affordability—or lack thereof—is going to put a damper on the housing market’s growth. A big factor in the strength of the market and the story for housing is very much tied to whether incomes increase, according to Fannie Mae’s analysis. Doug Duncan, chief economist for Fannie Mae, commented, “Our theme for the year is [that] housing affordability constrains as the expansion matures. Both rents and house prices are appreciating at pretty strong levels. And what is required is to see income growth, particularly at the medium and lower income levels.”
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