Real Estate Has Become Unaffordable | Natalie Pace
Interview with Dr. Lawrence Yun, the chief economist of the National Association of Realtors.
"We are having a nationwide housing cost problem."
As I travel around the country, particularly in California, Seattle, Colorado and New York City, I hear the same story. "I want to buy a house, but the prices are so high! Every time I bid on something, I am competing with multiple bids and my offer is never taken."
Home prices are at record highs. According to the National Association of Realtors, the median sales price for single family homes rose to an all-time high of $236,400 in June of 2015 - above the previous record high of $230,400 set in July of 2006. It's definitely