Items Tagged with 'affordability'

ARTICLES

  • Fannie Mae's Doug Duncan: Lack of inventory is holding housing market back big-time

    Duncan shares thoughts on how to address inventory shortage
    Low mortgage rates have spurred an increase in mortgage applications (although it should be noted that applications have fallen in the last two weeks) and refinances, but despite these gains, America’s home sales remain below historical averages. So, what’s the deal? Well, a lack of housing inventory is one big factor. In an exclusive interview for the season finale of the Housing News podcast, Fannie Mae Chief Economist Doug Duncan explains what's behind the nation's inventory problem.
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  • Black Knight: Home price growth rate increases for first time in 16 months

    Home prices still increasing
    Home price growth continued to slow for the 16th month in July, according to the latest data from Black Knight. As home price growth continues to slow and interest rates fall, home buyers could see an increase in affordability, according to a first look at the Black Knight Home Price index, which will be released in September.
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  • LendingTree: Number of workers per household is growing as Americans combat rising home prices

    Salt Lake City ranks as the top metro with the highest average number of workers per household
    Although the nation’s employment rate has risen to new highs within the last couple of years, wages haven't kept pace with home-price growth, leaving many homeowners struggling to afford housing. So, how are these Americans making ends meet? LendingTree’s latest analysis revealed that there is a direct correlation between the rising cost of living and the increasing number of workers per household.
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  • Realtor.com launches new tools to help homebuyers stay within budget

    Says it's a first for the industry
    Part of the fun of search real estate sites is looking at houses that are outside of your price range, but one site is now trying to make sure prospective buyers' eyes aren't bigger than their stomaches. Realtor.com announced Monday it will be launching a monthly payment filter to help homebuyers search within their budget.
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  • NAR: Cheap mortgage rates are improving home affordability

    Affordability jumped 10% in June from a year earlier as financing costs fell
    The cheapest financing in almost three years is making it easier for Americans to buy homes. The Housing Affordability Index from the National Association of Realtors increased to 151.9 in June from 137.7 a year earlier in June. That’s a jump of 10%. A higher reading means homes are getting more affordable, per NAR’s magic sauce that measures prices, incomes and financing costs.
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  • Stagnant wages, vacant homes are undercutting housing markets, U.S. mayors say

    "The United States has a housing crisis," says D.C. Mayor Muriel Bowser
    The two biggest villains undercutting housing markets in American cities are stagnant wages and vacant properties, according to a report this week from a coalition of U.S. mayors. “In fast-growing cities, wages lag behind housing costs, leading to a scarcity of affordable housing,” the report from the National League of Cities Housing Task Force states. In cities where the economy is stagnant, abandoned homes are depressing real estate values.
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  • More renters than ever before say renting is cheaper than buying, but are they right?

    Freddie Mac survey reveals more than a third believe homeownership is less accessible
    Most Americans who rent their homes think this option is more affordable than buying. According to a recent survey by Freddie Mac, 82% of renters now view renting as more affordable than homeownership, that’s up 15 points from last year and an all-time high for the survey. But are they right?
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  • Median-priced homes remain unaffordable for average earners in most cities

    Home prices continue to outpace wages in 40% of markets
    Affordability issues continue to plague the nation’s housing market, and it appears the situation is only getting worse. The latest report from ATTOM Data Solutions shows that the median-priced home is too expensive for the average earner in 74% of U.S. markets. That’s up 3% from last quarter.
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  • This is how much you need to earn to live in America's most expensive cities

    Here's how much cash you need to pull in to live in the priciest U.S. markets
    The most expensive cities to live in are – you guessed it – in California. But how much, exactly, do you have to make in order to afford to live there? A recent study by HSH.com revealed the least and most affordable U.S. cities and what salary you’d need to pull in to live there, and this is what it found.
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  • First-time homebuyers are not being shut out of the housing market

    New York Fed sets the record straight
    Several housing market analysts have expressed concern that a lack of affordability has shut first-time homebuyers out of the market. But the trouble is, there hasn’t been a great measure of how many first-time buyers are actually purchasing homes. Until now. A recent paper by the Federal Reserve Bank of New York set out to create a more accurate picture, and the results may surprise you.
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