One America is living in a housing boom. The other needs support from the government or family for an affordable place to live.
, the housing boom is fed by low interest rates, millennials reaching home-buying age and a demand for more space. Many Americans — especially 30-somethings who remain employed — are ditching their tiny rental apartments in hip districts of expensive cities and moving to buy houses in more affordable cities or the burbs for a life of shopping at Home Depot and spending their Friday nights eating mozzarella sticks at Applebee's.
The boom gets slightly less rosy, though, when you consider why national home prices are surging. It's in large part because there's not a lot of new construction and because existing homeowners don't want to sell."There's a tremendous shortage of homes on the market," says Jeff Tucker, an economist at Zillow."We see about 29% fewer homes that are actively listed compared to this time last year.
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