May
09

Study Finds Asheville Housing Market Unsustainable

By

ashevilleMany residents already have experienced it. Perhaps more have feared it.

Now, a national report has added to worries the Asheville metro area’s housing market has reached unsustainable levels. Economists at Nationwide, the insurance and financial-planning company based in Ohio, have ranked the metro-area market as the nation’s sixth-unhealthiest.

“House-price gains relative to income have become increasingly unaffordable,” said David Berson, Nationwide senior vice president and chief economist who is the report’s primary author.

The study fits the Asheville region’s performance within a national context, though critics say it doesn’t take in all factors unique to the city specifically.

Average annual wages in the Asheville metro area – which comprises Buncombe, Haywood, Henderson and Madison counties – were $37,289 during the third quarter of last year, according to the most recent data available from the U.S. Bureau of Labor Statistics.

READ MORE HERE

Categories : Asheville

Comments are closed.