U.S. home prices rose at their fastest annual rate since 1996 as a pandemic-fueled housing market frenzy accelerated, according to private sector data released Tuesday.
The S&P CoreLogic Case-Shiller U.S. National Home Price index rose 12 percent year over year in February, marking the fastest increase in 15 years. The index rose 11.9 percent in January.
All 20 of the major U.S. metro areas tracked by the index saw home prices rise at least 10 percent in the year since February 2020 except for Chicago and Las Vegas, which saw gains of 8.6 percent and 9.4 percent, respectively.
Read more at The Hill.
{Matzav.com}
But then the government is going to tell us that there is no inflation going on…
(The Inflation index is based on rent not home prices so that they can lie to us that way. Rents rarely go up like home prices do)
Duhh, that’s what happens when inflation begins to make its way through. First stocks and real estate, then consumer goods follow a while later. Before you know it, you have got a Weimar republic. That’s what happens when the gubmit prints out a trillion dollars here and a trillion dollars there.
So how is the average young newly married couple supposed to be able to responsibly purchase a home?