The
past 5 years have seen fair nominal price growth resulting in double digit real price for the prior 7 years. This however abruptly changed in 2006, as Milwaukee experienced its largest real price drop since 1984. Fortunately, the mortgage-debt-to-income ratio has only slightly increased over the past 5 years despite a national increase, indicating there should be little concern about a massive Milwaukee market bubble. However, due to national and local consumer sentiment it is likely that nominal prices will stagnate short term before returning to a long term growth phase.
SEE PRIOR MILWAUKEE PEAKS & TROUGHS Next >
|
Year |
|
|
|
|
Milwaukee
Mortgage-Debt-to-Income Ratio |
National
Mortgage-Debt-to-Income Ratio |
2001 |
$160,500 |
5.7% |
$182,100 |
3.0% |
17.1% |
17.8% |
2002 |
$169,100 |
5.4% |
$186,900 |
2.7% |
16.5% |
17.5% |
2003 |
$182,300 |
7.8% |
$198,000 |
5.9% |
17.3% |
18.3% |
2004 |
$199,900 |
9.6% |
$211,700 |
6.9% |
18.2% |
19.6% |
2005 |
$218,400 |
9.2% |
$224,900 |
6.3% |
20.2% |
22.6% |
2006 |
$220,900 |
1.2% |
$220,900 |
-1.8% |
19.4% |
21.7% |
|
