The volatile housing market of the past 15 years is widening the divide between pricey urban and coastal areas and more affordable inland regions. Much of the spoils of the recent boom have been concentrated in pricier markets. Homes in ZIP Codes where the median value is $500,000 to $1 million are now worth 103% more than they were 16 years ago, while in ZIP Codes where the median home was worth $100,000 to $150,000, prices have risen 16% since the trough of the market. In more rural areas outside major cities, demand for housing has been flat, with little new supply and more people leaving for larger cities and coastal regions.
The contrast offers one explanation for the frustration building in the mostly rural, middle-American areas that helped propel Donald Trump to victory in the presidential election.
From the Wall Street Journal, Dec. 28, 2016
