Home Prices Have Shot Up Way More Than You Thought Since the Recession

Quite a bit has changed since the housing bubble burst and the world plunged into a bleak recession. Rampant layoffs have been replaced by a booming economy and hiring sprees. A housing market pocked by foreclosures and abandoned construction sites is now on fire.

But the postcrash price growth might actually be higher than most thought. Home prices shot up a cumulative 50% over the past decade, from June 2009 through May 2019, according to a recent report from real estate information provider CoreLogic. Meanwhile, the cost to rent a single-family home surged 33% over the same period. Wages also rose over the past decade, but not nearly that much.

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Source: Realtor.com written by Clare Trapasso, July 18, 2019