Despite recent reports surrounding the dismal state of the U.S. economy, the housing market remains strong and unbothered by such news, particularly mortgage lenders.
Read More »Rental Demand is Surging in Record Numbers
While homeownership rates have mostly been falling the last two years, the demand for rental housing has seen unprecedented increases. What is driving the rental demand surge?
Read More »Will ‘Unaffordable’ Homes Ever Become ‘Affordable’ to Millennials?
In a market where house prices are low and income growth is strong, such as Columbia, South Carolina (another market in the eastern U.S.), the payments begin the life of the mortgage as 17 percent of the household’s monthly income; by the end of the life of the loan, the payments drop to 6.6 percent
Read More »Ask the Economist: Housing Industry Should Look Forward Instead of Focusing on ‘Recovery’
Ask the Economist is an ongoing series in which DS News talks with an economist about the most pressing issues facing the nation's housing industry and the economy. This installment features Mark Fleming, Chief Economist with First American Financial Corporation.
Read More »HUD Secretary Castro Emphasizes Importance of Millennials to Housing Market
According to Smoke, 32 percent of millennials were homebuyers this year, while 18 percent were sellers. On the one other hand, 40 percent of millennials own a home, while 60 percent rent.
Read More »Millennials Less Likely to Identify Credit-Altering Life Events, But Do Check Credit for Mortgages
“It’s important for all people to understand the effect of life milestones on their credit so they can put themselves in a position to reach personal and financial goals," said Ken Chaplin, SVP at TransUnion. "This survey reveals that many people, especially younger adults, may not be prepared for how certain events, such as marriage, buying a home or getting a car could alter their credit scores.”
Read More »Flexibility Is a Key Driver for Booming Single-Family Rental Market
The labor market has improved as the economy has rebounded, and people are moving from the center of the country to the coasts to places that have experienced robust job growth like New York, Florida, and Los Angeles—but they want to be able to move around without being tied down to a mortgage.
Read More »Student Loan Debt Is Not Solely To Blame For Low Millennial Homeownership Rate
Some housing experts expected the homeownership rate, which has been decreasing since 2004, to get a much-needed boost as millennials entered the housing market. However, there have been no results on this end and the homeownership rate has continued to fall.
Read More »U.S. Homebuyers Have Become More Diversified
Millennials or generation Y (age 35 and under), which is the demographic many analysts have said will be critical for the future health of the housing market, comprised 32 percent of all buyers – the largest share of homebuyers for any age group.
Read More »Single-Family Rental Market Continues to Gain Momentum
Single-family rentals comprise 40 percent of the rental market, nearly equal with multi-family's share (42 percent) and more than double the 2-to-4 family share (18 percent), according to CoreLogic.
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