Are home prices rising too quickly for millennials?

Up-Graph-300x211By Jonnelle Marte | CNBC

Many young workers today find that home prices are rising faster than their pay, making it harder for them to set aside the cash they need for the purchase, studies shows

The typical first-time home buyer today purchases a house that costs 2.6 times his or her annual income, according to a report released by Zillow this week. In the 1970s, new home buyers found homes that cost about 1.7 times their annual pay, the study found.

Continued:

Related: Americans are waiting longer to buy a home/AP

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