The tendency of home prices rising faster than incomes, along with insufficient new construction in bigger and more expensive cities, has led to middle-class families not being able to afford new homes.
Trulia, the online residential real estate site, recently published a report indicating that the most expensive markets, especially along the costs, remain impossible to afford to the majority of Americans.
The report gives San Francisco as an example, where only 14% of of the homes on the market are actually reachable by the average American. Just the same, in New York, less than a third of the houses for sale are within reach.
At the same time, there are some preferred U.S. metro areas where middle-class Americans have a chance of buying a home. The report refers to cities like Chicago, Houston, Atlanta and a few others.
The overall house market climate sways between increased mortgage rates and home prices, something that accounts for about 20% higher costs than a year ago.
Read the full story at Fox Business.