SIGN UP FOR THE BREITBART EMAIL NEWSLETTER

Nearly 1 in 3 Americans Fear They Can't Afford Rent or Mortgage

Nearly 1 in 3 Americans Fear They Can't Afford Rent or Mortgage

A new report released on Tuesday by the National Association of Realtors found that last month sales of previously owned homes fell to their lowest pace in 20 months. 

The report also shows a widening rift between the performance of high end properties and cheaper homes. Over the last year, sales of homes under $100,000 have plunged 18%, while sales of homes costing over $1 million have jumped 8%.

“There really should be stronger levels of home sales given our population growth,” said NAR chief economist Lawrence Yun. “In contrast, price growth is rising faster than historical norms because of inventory shortages.” 

The Associated Press reports that the median price of a new home last month rose 12.6% to $290,000 from last March.

Concerns over America’s weak economy and grim jobs picture continue to weigh heavy on homeowners and renters. A new Gallup poll released on Tuesday finds that nearly one in three Americans (31%) say they are “very worried” or “moderately worried” that they will be unable to pay their mortgage, rent, or other housing costs.

P.S. DO YOU WANT MORE ARTICLES
LIKE THIS ONE DELIVERED RIGHT TO YOUR INBOX?
SIGN UP FOR THE DAILY BREITBART NEWSLETTER.


Comment count on this article reflects comments made on Breitbart.com and Facebook. Visit Breitbart's Facebook Page.

SIGN UP FOR THE OFFICIAL
BREITBART EMAIL NEWSLETTER

GET TODAY'S TOP NEWS DELIVERED RIGHT TO YOUR INBOX

I don't want to get today's top news.

x