Tag Archives: SMOC

Owner Costs Rise, Incomes Don’t Keep Up

NC2SD route stops, organized by a ratio of affordability: Change in Median Selected Monthly Owner Costs (SMOC) / Change in Median Owner Income. The heavy black line indicates a ratio of 1.0, while the purple dashed lines show the NC2SD and national averages. Places with a green background experienced greater increases in income than owner costs; the red background indicates the converse.

[Part of a series on the 2012 NC2SD Bike & Build route]

It goes without saying that most prices increase over time, and real estate is a particular investment where you may even hope that’s the case.  However, higher real estate prices could also mean higher owner costs, ranging from larger monthly mortgage payments to additional repairs or maintenance.  As long as incomes rise along with home values, affordability is not necessarily hindered.   Continue reading

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