“'Because of the lack of inventory, prices are getting pushed up faster than overall inflation or people’s wage income,' he said.
Whether or not you can benefit from this housing boom depends on whether you’ve been able to keep your job during the pandemic, said Paul Habibi of the Anderson School of Management at the University of California, Los Angeles.
'This has really exacerbated a lot of the disconnects we’ve already had in the market with respect to affordability and homeownership,' he said.
Habibi added that roughly one in four homeowners weren’t able to make last month’s mortgage payment. Lenders have been lenient, but Habibi noted that will only play out for so long."
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