CNN host Brianna Keilar said on Tuesday on “News Central” that housing prices had a “record jump” of 5.4%, which is causing a “rough” market.
Keilar said, “A just-released housing index reveals just how rough the market is, especially for first-time homebuyers. It showed home prices for the nation. Its top 20 metro areas rose 5.4% from June of last year to June of this year, a record jump for that month.”
She added, “Renters, not just homebuyers, are feeling a serious squeeze, especially in New York. Moody’s found New Yorkers dedicated a whopping 58% of their income toward rent compared to 27% sent nationwide.”
CNN International host Richard Quest said, “I mean, New York, San Diego, Las Vegas, why are we not surprised when we see that? The inflation moderating, we know it is, so that is feeding through to house prices, which aren’t going up as fast, but they are still going up and that I think plays into the political season.”
He added, “If you’re 58%, you can see in New York it’s just becoming affordable. People just cannot afford to live here. It’s pushing out certain members of the community. It is bringing in people who can just basically pay the rents, and it’s very difficult to change that dynamic.”
Keilar said, “That is crazy and really wild, 58%.”
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