Home prices continue to rise in the U.S. - but wages haven't risen as much. This creates a very specific problem in home buying. “I can tell you that getting people approved for loans can be very difficult since the 2008 bust,” says Michael Weaster with Berkshire Hathaway Home Services Anderson Properties. And rents have gone up as well ...partly because Millennials can't afford to buy and have raised the demand for leasing. “A lot of the millennials who are not married or planning to have children do want to stay where the amenities are – they want to have the rooftop pools, the concierge and this, that and the other.”
Weaster says he sees Houston one bedroom apartments going for $1800 a month!
Unlike the rest of the country, Weaster says Houston still has plenty of well-priced single family homes in good school districts on the market.