Still Over 2x Hourly Earnings Growth
Yes, The Federal Reserve is removing its excessive monetary stimulus at a sloth-like pace.
Home price growth is still growing a greater than 2x hourly earnings growth and has been since 2012.
Seattle, San Francisco and Las Vegas continue to lead the nation in YoY home price growth. Bringing up the rear are Chicago and Washington DC.
18 of 20 metro areas in the US saw home prices grow at a higher pace, while 16 of 20 major U.S. cities experienced home price growth of 5.4% or higher, double the average wage growth. And yes, Washington DC also has the slowest wage growth of the 20 cities in the Case-Shiller index.