“These are big numbers that demand our attention,” said Nuno Mota, an economist at Fannie Mae. “However, considering that there are a number of affordability metrics currently used throughout the industry, are these numbers providing the most accurate view of the overall affordability picture, or are we only getting a partial view?”
Read More »Housing Affordability Is Up As National Homeownership Month Begins
The latest NAHB/Wells Fargo Housing Opportunity Index released in mid-May reports that about two-thirds of new and existing homes sold in the first quarter of 2015 were affordable to families that earned $65,800, which is the U.S. median yearly income, according to NAHB
Read More »Freddie Mac Predicts Interest Rate Volatility As Capital Markets Try to Anticipate Fed’s Timing
“For the remainder of this year, we're likely to continue to see these mortgage rate swings as market participants try to anticipate Fed timing around rising short term interest rates,” said Len Kiefer, deputy chief economist at Freddie Mac. “Unfortunately, perspective homebuyers may experience bouts of affordability shock in many housing markets."
Read More »VP Joe Biden Scheduled to Speak at HUD Housing Conference April 7
Vice President Joe Biden, HUD Secretary Julián Castro, and the Obama Administration say they are are committed to leveling the playing field for all Americans and increasing access to safe and affordable housing.
Read More »Increasing Rent Costs Present a Challenge to Aspiring Homeowners
Zillow announced Friday that it expects to close the acquisition of Trulia by February 17, following the announcement of the conclusion of a Federal Trade Commission investigation. Zillow first announced its intention to acquire Trulia in July 2014 for $3.5 billion.
Read More »Economist Predicts Millennials Will Greatly Increase Presence in Home Market in 2015
While millennials so far have yet to find their place in the housing market, the stage is set for younger Americans to become the driving force in the residential sector in 2015, according to a forecast from Zillow.
Read More »Report: Non-Mortgage Debt Dragging Homeownership Even With Lower Down Payment
While lowering the down payment on a mortgage may clear one major hurdle to homeownership, a report released by RealtyTrac Tuesday revealed that a monthly mortgage payment is affordable to those with non-mortgage debt in less than half of the counties in the U.S.
Read More »Study: Pressing Housing Challenges More Apparent in ‘Blue’ Markets
A recent study conducted by Trulia shows that while Democratic- and Republican-leaning U.S. markets were affected similarly by the housing crisis, the most pressing current issues of the housing industry seem to be more severely affecting Democratic-leaning metros.
Read More »High Rents Prevent Potential Buyers From Owning Homes
What this means for the future of the housing market could be trouble. The effects of rents high enough to keep prospective buyers away from houses is particularly hitting millennials, who are already saddled with uncertain job prospects and enormous student debt, according to Zillow Chief Economist Stan Humphries.
Read More »Millennials Use ‘Bank of Mom and Dad’ for Down Payment Help
According to a consumer survey conducted by Trulia, 60 percent of American adults age 18–34 say a lack of savings, poor credit, and severe debt stand between them and homeownership. As a result, 50 percent would have to ask for help from their parents or grandparents to put together enough money to clear the initial hurdle of making a down payment.
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