Articles Tagged with ''Housing Affordability''

NAHB: Most homeowners now view housing market’s affordability problem as a crisis

Expert says the crisis is mostly harming the nation's middle- and low-income households
As housing affordability continues to be a cause of concern for the nation’s homeowners, a report from the National Association of Homebuilders indicates 80% of American households now perceive the problem to be a crisis. Additionally, the company claims that 75% of households report housing affordability to be a problem at both the state and local level.
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California nears statewide rent control

Legislative bodies approve measure, now awaiting sign-off from Gov. Gavin Newsom
California is one step away from enacting statewide rent control after the state's two legislative bodies both approved the measure. The bill was approved this week by the California State Senate and the California State Assembly. The bill now moves to the desk of California Gov. Gavin Newsom, who is expected to sign the bill into law.
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America's home price growth continues to slow as economic tension heightens

The average American home listing price reaches $309,000 in August
In August, the average American home listing price climbed 4.9% year over year, reaching a high of $309,000, according to Realtor.com’s Housing Trend Report. While this is an increase from last year’s price levels, the company indicates that August’s rate of growth was much slower than 2018’s pace of appreciation. The reason? Well, Realtor.com believes the nation's economic anxieties might be causing a seasonal slowdown.
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NerdWallet: Decline in housing affordability is keeping Americans out of their desired markets

Survey claims that 45% of Americans can't afford to live in the housing market they want
As housing affordability becomes a top concern for homeowners across the country, a new report from NerdWallet indicates many are refraining from moving in order to evade relocation costs. According to the company’s data, about six in 10 renters not living in their ideal location would rather give up the opportunity to own a home than move to a less desired location.
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Redfin: This is why home prices are rising faster in car-dependent housing markets

In July, home-sale prices in car-dependent housing markets increased 4.3% year over year
For many Americans, the causal stroll around the neighborhood is an important part of day-to-day life. But as homebuyers continue to grapple with rising home prices, a new report from Redfin suggests that many are now prioritizing affordability over walkability. According to the company’s data, home-sale prices in car-dependent housing markets across the country increased 4.3% year over year to a median of $312,100 in July.
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More than half of Baby Boomers say they want to stay in their houses after they retire

Getting roommates and downsizing are some of the ways retirees are able to afford housing
Even as Millennials enter the homebuying market, many Baby Boomers indicate they plan to stay in their homes throughout their retirements, according to a new study from PropertyShark. The study showed that more than half of Baby Boomers (56% to be exact) said they want to age in place and stay in the home they're in now.
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These are the nation's most affordable housing markets for middle-class families

Detroit tops the list as the most affordable metro for America's middle-class
The era of unusually affordable housing has ended, meaning America’s housing affordability has returned to average historical levels. While this means homes are no longer cheap on a national basis, Redfin’s affordability report suggests the market is still relatively affordable for America’s middle-class families. According to Redfin’s data, in 68 of the 88 most populous American housing markets, a median-priced home is still affordable to families earning the area’s median household income.
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These are the housing market's most expensive small towns

Vineyard Haven, Massachusetts tops the list
While housing affordability has fallen across the board, reports often suggest that metropolitan cities are experiencing the most dramatic declines. However, a report from LendingTree indicates that homeowners living in America’s small towns are also feeling the burn. According to the company, Vineyard Haven, Massachusetts; Summit Park, Utah and Breckenridge, Colorado are the now the nation’s most expensive towns.
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