While the U.S. has largely recovered from the housing crisis and mortgage and interest rates remain low, home ownership rates remain at lows not seen in decades. U.S. News & World Report staffer Andrew Soergel spoke with Trulia Chief Economist Ralph McLaughlin about the current trends that he's seen in the housing market.

McLaughlin explains that the lack of affordability currently seen in the housing market is due to the returns on investment seen in some of the most expensive markets compared to the cheaper markets:

And that matters, because, for example, the median homeowner in San Francisco over the last 30 years earned about $900,000 just from buying a home. Contrast that with the median homeowner in a place like Fort Worth. They only gained about $50,000 in nominal value. As housing wealth is passed on to generations, that potentially would be a cause for widening wealth inequality...

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