WAGE PRESSURE

Home price appreciation outpaced wage growth in the U.S.  After prices bottomed out in 2012, they have recovered rather quickly, especially for investors says Daren Blomquist, VP of Realty Trac.  For the momentum to grow traditional buyers need to get MORE into the market, but wages are not increasing as much.  “The gap has worsened in many areas as rents continue to climb, but the accelerated pace of hiring has yet to give workers a meaningful bump in pay” according to Lawrence Yun, chief economist National Assoc. of Realtors.  So more folks are STAYING AS RENTERS.