The housing market is showing no signs of slowing down, and for the first time in nearly a decade, more Americans have been renting than owning homes.
And, that’s because Americans have stopped saving for retirement.
The median household income in the United States increased by 0.2 percent last year to $50,000, a 2.7 percent increase from the previous year, according to a recent report from the U.S. Census Bureau.
“People are spending more, they’re getting a bigger percentage of their income from their paycheck,” said David Molloy, a housing analyst at Moody’s Analytics.
“It’s a lot harder to retire in a big hurry and save.”
Incomes have risen faster than household wealth, which is the key to a healthy economy, Mollo said.
The top 1 percent of earners have seen their wealth grow by more than $4.6 trillion, according a study by Bank of America Merrill Lynch.
The typical U.K. household had an annual income of $49,000 last year.
A lot of people have bought homes, but the average price of a new home in the U-S.
has jumped more than 3 percent in the past year, to $315,000 from $275,000 in 2015.
That’s driven up the cost of buying a home, but it has not slowed demand, Moller said.
People also are renting for longer, Molla said.
“People are not buying as much as they were a few years ago, and that’s driven a lot of the demand growth.”
The trend is being driven by a combination of factors.
The number of people living in their parents’ homes has grown by more people than people who are buying homes, and fewer are buying them for the same amount, according the Mortgage Bankers Association.
A record number of Americans are now paying off their student loans.
And mortgage rates are dropping, making it easier to buy a home.
With the unemployment rate still well below 7 percent, the economy is likely to remain strong.
But there is a chance the economy could take a turn for the worse, Molls said.
Inflation is running at about 4 percent and consumer spending has declined, according onmploy.com, a website that tracks the labor market.
The U.N. warned in December that the global economy was in trouble.
“The current pace of economic expansion has stalled, with no signs that the slowdown is slowing,” the group said.
That would have a serious impact on the financial markets, since people make up a huge part of the economy.
Despite the strong economic growth, many people are still struggling to pay for a home and get on their feet.
According to the Census Bureau, the median home price in 2016 was $175,000.
That is up from $174,000 the year before.
That number is expected to rise in the coming years.
While the housing market has continued to grow, the average income of Americans is also rising.
The number of households earning less than $50.00 a year has risen to 1.7 million from 1.6 million a year earlier, according data from the Census bureau.
That increase was driven by an increase in people who earn less than about $37,000 and the number of lower-income households.
That’s not a big increase compared to a year ago, when median household incomes were $53,000 for the median family of four.
And that’s the same for single-parent households.
According the Census, the number rose to 2.6 percent of all households in 2016, from 2.3 percent in 2015, with a higher percentage of married households and higher percentages of people in households headed by a woman.
Meanwhile, the share of households with incomes below $30,000 has also grown, according Datafolks.com.
That means about 15 percent of households have incomes below that level.
Inflation has also risen faster for households that earn less.
In the last two years, inflation has risen about 2.8 percent for all households, and 5.3 percentage points for those earning less, according figures from the Federal Reserve Bank of St. Louis.
Molloy said it’s a good time for homeowners.
“I think the rate of return is going to be higher in the next few years,” Molloys said.
But if you’re going to buy, you need to know what you’re getting.
“If you have to wait for a house to sell, it’s just a bad idea,” Molla added.
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