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>it’s mostly due to the fact that higher mortgage rates made the listings hitting the market less affordable House prices didn't appreciate faster, mortgage ra
by panny 4y ago
>it’s mostly due to the fact that higher mortgage rates made the listings hitting the market less affordable
House prices didn't appreciate faster, mortgage rates went up. A great transfer of wealth from the property tax man to the banker is afoot.
>Only 9% of homes for sale last year were affordable for the typical Black household, compared with 28% for the typical white household and the lowest share of any race in this analysis.
That seems expected when you account for the fact that blacks have larger families. I don't know why every article on housing has to bring in identity politics when it's clear that having more children raises your housing cost, independent of race.
- Kye 4y agohttps://www.census.gov/data/tables/2016/demo/families/cps-2016.html https://www.census.gov/data/tables/2016/demo/families/cps-20... "Table AVG1. Average Number Of People Per Household, By Race And Hispanic Origin, Marital Status, Age, And Education Of Householder: 2016" Looks like 2.50 for white- and black-led households and doesn't change enough to account for the difference any way you slice it. Of course, that doesn't say anything about composition, especially with younger families now that the demographic effects of America's long history of segregation and ongoing redlining are just barely starting to fade. Where did you get your stat from?