US housing wealth centred in a few markets
Study finds 10% of communities held 52% of total wealth
[WASHINGTON] A sizable chunk of America's housing wealth is concentrated in a few markets, and that picture is unlikely to change as the housing recovery unfolds, according to a report released on Wednesday.
The Demand Institute, a non-profit group run by the Conference Board and Nielsen, analysed prices of owner-occupied homes in 2,200 of the largest cities and towns. It found that 10 per cent of communities held 52 per cent of total housing wealth - about US$4.4 trillion.
By contrast, the bottom 40 per cent held 8 per cent of the wealth, or US$700 billion.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand