America’s great housing divide

housing divideBy Ted Mellnik, Darla Cameron, Denise Lu, Emily Badger and Kat Downs | The Washington Post

The Post analysis, based on data from Black Knight Financial Services spanning 2004 through 2015, shows how the nation’s housing recovery has exacerbated inequality, leaving behind many Americans of moderate means. It also helps explain why the economic recovery feels incomplete, especially in neighborhoods where the value of housing — often the biggest family asset — has recovered little, if at all.

While a typical single-family home has gained less than 14 percent in value since 2004, homes in the most expensive neighborhoods have gained 21 percent. Regional factors such as the Western energy boom explain some differences, but in many cities the housing market’s arc has deepened disparities between the rich and everyone else, such as in Boston, where gentrifying urban neighborhoods have thrived and far-flung suburbs have fallen behind.

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