Good News for Cheap Houses!
Since the housing crash ended, prices have recovered in most parts of the United States, now almost 6 percent over the peak 2006 prices. However many builders who stopped building during the recession have not come back to the business and a few million homes that were owner occupied are now rentals contributing to a scarcity of available homes. The problem is most acute at the lower price levels where prices are going up at twice the rate of high-end homes. According to Zillow, home prices at the low end are appreciating at 8.4 percent per year compared to 3.7 percent at the higher levels. www.usatoday.com