Policymakers should be exuberant over the latest data on the housing market. The Wall Street Journal reports that the red-hot housing market is giving the cheapest homes are getting an extra boost. This even includes homes in historically stagnant neighborhoods…
- “ZIP Codes where the median home cost less than $100,000 in early 2018 have had a 42% rise in prices in the three years since then…”
- “That is about double the rise for ZIP Codes where the median was between $150,000 and $200,000, and triple the rise in locales with $300,000-plus price tags.”
Policymakers are always wondering how to help lower income Americans. It appears as if market forces took care of that for them.