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Housing <br /> Affordable vs.Median Value <br /> Affordable Home Price vs.Median Home Value,by Town and Income Level choose vear <br /> 02015 <br /> (2015) 2025 <br /> .. Sala E E o ct Your Town(s) <br /> m E t E o w <br /> o. Select Your Subroglon(s) <br /> I,(All) <br /> [j L-c,Cape <br /> tt100K <br /> t000K IJ'J�MO C."IJ Outer Cape <br /> fNOK 900K Ll Upper Cape <br /> Legend <br /> BOOK BOOK AI(o,dabta House Price <br /> !!edren Mouse Pnaa i. <br /> 700K 700K <br /> a. COOK BOOK c. <br /> 500K 500K <br /> a 400X le 400K <br /> 300K °0 GOOK ' <br /> � � a 200K <br /> 200K m m o a o °" e m o Cllckthe3rd Arrow <br /> y Below to Reset. <br /> 100K , 1OOK S—c.:EPR 2017 <br /> OK _ _ _ _ _ _ _ _ _ _ _ _ _ OK <br /> }+ableau <br /> If this was a normal market <br /> In a normal market,when total housing stock increases faster than household growth,there shouldn't be a housing <br /> shortage.But this is not a normal market.The influence of seasonal buyers on the demand and supply of existing <br /> and new housing units creates competition from outside the Immediate region.The financial resources of second <br /> home buyers typically far exceed those of year-round buyers. <br /> 4. Affordable home price vs. market value <br /> • This was a Cape wide problem in 2015. The relationship between income and <br /> housing price was already troubling in the 80% median household income <br /> group. It continues to be increasingly difficult for the lower income families to <br /> afford or buy a house at median income. <br /> • Half of the housing prices in 2015 were above and below the line. There is a <br /> clear affordability problem. <br /> • Second homes are a major part of the economy for the Outer and Lower <br /> Cape, as it has been true for many years. Mid Cape and Upper Cape had <br /> median income levels. There seemed to be some opportunity to buy if you <br /> looked hard. <br /> 9 <br />