Actually, You Probably Can't Make it in New York

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And you might want to cross San Francisco off the list, too.

In the past 30 years, the most expensive metro areas in the U.S. have seen their housing prices grow at a much faster pace than the least expensive markets, according to a new report out from Trulia. That rapid increase has caused certain areas - especially New York's long-envied Manhattan borough - to be closed off to not only the successful and wealthy, but those that were also raised by the successful and wealthy. Kate Smith and Dan Moss talk to one half of the Case-Shiller Index and the authority on housing prices, Robert Shiller, on what's driving the prices up and whether New York real estate is all it's cracked up to be.

 

 

 

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