The now-notorious serial drama of rising home prices, even as household income growth has been tamped down during the same protracted time-period has now begun to fiddle with the moods and motivations of prospective home buyers.
Fannie Mae's just-released monthly barometer of Home Purchase Sentiment dipped in January, precisely because of the wedge between wages and home prices seems to be widening with every month's release of data. The Fannie HPSI notes:
Good Time to Buy figures trended down on net in 2015, declining an additional 4 percentage points in January. The share of consumers who reported that their income was significantly higher than it was 12 months ago fell 3 percentage points after climbing 9 percentage points on net in December.