NAFCU
Overall home prices are now only 2 percent below their July 2006 peak, marking a housing recovery that has left behind many middle-class potential buyers, according to The Wall Street Journal.
The WSJ noted that between 200,000 and 300,000 fewer households are purchasing homes than would under normal economic conditions, and it said home prices are increasing in part due to a lack of supply, as new home construction remains at recession levels. The WSJ also noted that mortgage availability is a big cause of falling homeownership levels.
