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(Un)Affordable Housing Alert! FHFA Purchase-Only Home Price Index Rises 6.3% YoY For July (4.5x Fed’s “Inflation” Rate and 2.73x Wage Growth)

This is a syndicated repost published with the permission of Snake Hole Lounge. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

The FHFA’s purchase-only home price index is out for July. It shows that home prices grew at a 6.3% YoY rate, but only 0.2% MoM. The largest home price increases were in Pacific and Mountain states.

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This means that housing, often the largest ticket item for American households, grew at 4.5 times the Fed’s inflation rate (core PCE price growth YoY). And 2.73x hourly wage growth.

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Yes, this is another alert for unaffordable housing.

alarm!

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