Owners of the country's most affordable homes are gaining equity the fastest, because demand for entry-level homes continues to grow faster than supply.
With rising house prices largely driven by the inventory shortage, the time it takes a potential homebuyer to save for a 20% down payment is only likely to increase going forward.
On a Sunday evening a few weeks back, Shobana Ram was loading the dishwasher in her kitchen in Queens when her 85-year-old father-in-law rose from the dinner table, carrying his cane in one hand and an empty plate in the other.
The Home Depo on Tuesday reported earnings that were buoyed by a booming housing market and strong economy, a macro environment that executives and analysts believe is likely to provide a tailwind for the company for some time.
