A home in the Washington area has been sold — a small part of the booming housing market in the United States, but high prices have left some families incapable of buying a place of their own
WASHINGTON – The US real estate market is booming even as the coronavirus crisis intensifies, and the seemingly insatiable appetite for new and older homes has sent prices soaring — meaning more and more families with modest incomes are seeing their dreams of owning property shattered.
“It very much is a tale of haves and have nots,” said Dana Scanlon, a property agent in the Washington area.
In a bid to mitigate the economic crisis provoked by the pandemic, the US Federal Reserve slashed interest rates in March to near-zero.
As Scanlon explains, “that gives a very big boost to buying power for those people who…
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