Tag Archives: Inflation

Due to increasing cost of land, zoning restrictions, and skyrocketing costs for building materials, starter-homes are becoming a dying trend. The latest market study from Point2 Homes explores the challenges facing first-time buyers.

"If the Federal Reserve's objective was to slow down the housing market, it has succeeded spectacularly," said Rick Sharga, EVP of Market Intelligence at ATTOM.

Home sales in September saw a significant dip compared to August, decreasing about 30% lower than the same time last year. While inventory is up just 3%, numbers remain nearly 40% below 2019 levels.

According to Realtor.com’s latest Rental Report, the deceleration from rising prices in September may relieve some renters of financial stress. However, rental affordability remains a significant challenge as inflation continues to outpace wage growth.

In efforts to further combat the nationwide housing affordability crisis, JPMorgan Chase has announced $3 million in grants for five organizations across the U.S. to expand climate resilient affordable housing for Black, Hispanic, and Latino households.

With many households unable to afford necessary expenses as a result of rising rates and inflated home prices, a recent study from LendingTree revealed that many American homeowners report being worried about or likely to leave their home due to foreclosure in the next two months.

With many Americans citing high home prices and mortgage rate conditions as primary reasons for being unable to afford a home, an estimated 75% of consumers in Fannie Mae’s latest Home Purchase Index believe now is a bad time to buy a home, causing many to pull back from their home searches.

According to Epiq Bankruptcy's latest market analysis, the total number of filings increased an overall 7% in September, while commercial Chapter 11 filings increased nearly 80% over the last year.

“Those still able to afford homeownership are quickly regaining lost leverage, but this shift to a more balanced market is still in its early stages," said Nicole Bachaud, Senior Economist at Zillow.

According to new research from Fannie Mae’s Economic and Strategic Research Group (ESR), the housing market is expected to further cool as mortgage rates continue to rise and continues to predict an official recession conditions in 2023.  According to the ...