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The low-priced home shortage continues

The low-priced home shortage continues

Finance
The nationwide housing shortage continues but is especially troublesome for homebuyers with a budget of $ 250,000 or less, Susan Wachter, professor of real estate and of finance at the Wharton School of Business at the University of Pennsylvania, told CNBC on Monday. Rising labor, land and material costs are slowing down the supply, "except at higher prices, which is simply not affordable for the great middle, and that’s where we see the hit in ... existing sales," Wachter said on "Power Lunch." Sales of existing homes are down for the third month in a row due to a shortage of properties, which results in higher prices ...