Posts Tagged ‘wage growth’

Americans Waiting for a Bigger Raise

Posted on November 17, 2017 by Laura Lam

The government said that average hourly earnings rose 2.4% over the past 12 months.  That’s a slip from the 2.9% increase reported in September. It remains below the 3% to 3.5% range that many agree is normal in a truly healthy economy.  The last time wages were up more than 3% year-over-year was in April 2009, just as the economy was emerging from the depths of the global banking crisis that fueled the Great Recession. Why have wages remained stagnant even though many other indicators of the job market and broader economy look healthy? Unemployment continues to drop. The housing…

Home Affordability Hits Lowest Level in a Decade

Posted on July 11, 2017 by Laura Lam

Affordability dropped in the second quarter, sinking to its lowest level since 2008, according to the Q2 2017 U.S. Home Affordability Index by ATTOM Data Solutions.  The median national home price came in at $253,000 in the second quarter, hitting a 9-year low in affordability at the lowest level since the third quarter of 2008, the report shows. This is up 7.7% from last year, the largest annual increase since the first quarter of 2014. As home prices increased, the average weekly wage nationwide dropped to $1,067 in the fourth quarter, down 1.4% from last year. This represents the largest annual…

24% of Housing Markets Less Affordable Than Norm

Posted on October 13, 2016 by Laura Lam

Homes were less affordable than their historic averages in 24% of U.S. markets as prices rose and wage growth slowed, Attom Data Solutions found in its third-quarter affordability index.  Attom reported that affordability worsened compared with the second quarter and a year ago when the share of markets that were less affordable than normal was 22% and 19%, respectively. In total, 101 of 414 counties had an affordability index below 100 for the quarter, which indicates that a median-price home was less affordable than the average based on data going back to 2005.  Additionally, in 89% of markets home price…