Pages Navigation Menu

United States news, headlines, events , stories and all that is trending today

These Are The Best And Worst U.S. Cities To Own A House

Earlier today, in its latest update looking at March home prices, Case Shiller pointed out that “home prices continue to appreciate across the country”, at just over 5%, a pace that has held since early 2015.

Actually that is an understatement: in 16 of 20 of the tracked metro areas, the pace of home appreciation over the past year was 5% or higher, or equivalent to more than twice the pace of core inflation. And with rents continuing to soar across the country, in many cases at a double digit clip, not to mention exploding healthcare costs, one wonders just what the BLS “measures” with its monthly CPI update.

In any case, for those lucky Americans who can afford to own a house instead of being stuck renting the New Normal American dream where they are prohibited from peddling fiction as their annual rent increases by 10% or more each year, here is the breakdown of the best and worst cities, if only from the perspective of price appreciation in the U.S.

To be sure, one can make the argument that the best places to buy a house is inverted from where the current appreciation is highest, since this is where housing is relatively under undervalued.

At the top, with annual price increases of 10% (rounded up) to over 12%, we find the usual west coast (and thus closest to China) suspects for the second month: Denver, Portland and Seattle. What is surprising is that what until recently was a superstart in this category, San Francisco, has seen its annual price increase drop to just 6.5% from 9.3% in February.

On the other end once again are Washington, Chicago and, the worst performer of all, New York. We wonder if Case Shiller used the UMich “random” telephone directory to calculate that NYC home prices rose almost exactly at the rate of core inflation in the past 12 months while ignoring the dramatic moves in the ultra luxury high end segment.

This post is from zerohedge.com/fullrss2.xml/%20http%3A/To%20follow%20Norways%.. Click here to read the full text

The best life hacks ever revealed to help make things easy everyday

Follow us on twitter @UnitedStatesTD

Also, Like us on facebook

Leave a Comment

Your email address will not be published. Required fields are marked *