Don't worry . . . There's a housing bubble bust underway along with a U.S. recession that will put home ownership out of reach for most locals for the next 20 years . . . And probably forever.
Still here's a worthwhile bit of data to share with a spouse or partner with unrealistic expectations . . .
The average price of a home in Kansas City so far this year is $316,700. That's an 11.6 percent increase since last year and double the price of homes a decade ago. And technically that price just went up.
"It's easy to look at 11 percent and what inflation is doing and say wow housing is a lot more expensive, but really the interest rate is what's most concerning for the cost of that housing. 5.15 percent makes that $317,000 home be significantly more over the case of 15-30 years," Kansas City Regional Association of Realtors President Michael Pierce said.
Read more via www.TonysKansasCity.com link . . .
Demand, short supply driving up prices of existing and new KC homes
KANSAS CITY, Mo. - Whether you are building or buying get ready to pay more for Kansas City-area homes. It's a case of supply and demand. More homes (3,200) sold last month, than are currently (3,000) on the market. The average price of a home in Kansas City so far this year is $316,700.
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