New York Times Reports Housing Market Slows As Rising Prices Outpace Wages

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A million dollar home in Dorchester?!?!
A file photo

– News covered by Quincy Quarry News with commentary added.

 

Housing market slows as rising prices outpace wages.

 

The New York Times has reported that even in fast-growing cities or otherwise hot local economies such as Denver, New York and Seattle, selling prices for residential housing are rising more slowly and asking prices are being slashed.

 

Is the bull is taking a nap?
A Stevan Noronha image

Similarly, steady increases in mortgage rates over the past year or thereabouts have also impacted the cost of home ownership in the wake of what has been a long bull market for residential real estate.

 

While the Quincy Quarry real estate desk does not see a crash in residential real estate prices on the near horizon, at least a pause is only reasonable to expect.

Source: Housing Market Slows, as Rising Prices Outpace Wages

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