Home prices have grown 13 times faster than wages in the housing recovery.
That’s according to a RealtyTrac study that compared government data on average weekly wages to median home prices between 2012 and 2014.
“Those markets with the biggest disconnect between price growth and wage growth during the last two years are most likely to see plateauing home prices in 2015 until wages catch up,” Daren Blomquist, vice president at RealtyTrac, said in the report.
In the housing recovery, home prices have grown 17%, versus the paltry 1.3% appreciation in median wages.
Wage growth has been one of the hardest things to achieve in the economic recovery.
Here are the cities with the biggest gaps between wages and home prices.
And here’s what the massive gap between wages and home prices looks like:
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