The "vast majority" of Americans have seen a boost in disposable income thanks to 2017’s Tax Cuts and Jobs Act, and this could provide a sizable boost to homeownership, say researchers at John Burns Real Estate Consulting. "Homeowners buying at these prices points haven’t benefited from housing tax policy in years," they note.
The trendiness and appeal of downtown may still be there for some, but as young adults start to grow older, this is starting to change. So where are they going? Older Millennials are moving to urban-like developments in the suburbs dubbed “surbans.” Check out the video included for a quick list of the top reasons older Millennials leave the city.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.