Posts Tagged ‘#homeownership’
Home Prices Rose Twice as Fast in Car-Dependent Neighborhoods as Transit-Accessible Areas
Home prices in car-dependent areas are up 33% since before the pandemic versus 16% for transit-accessible neighborhoods, according to a new report from Redfin, Seattle, reflecting the rise in remote work and the declining importance of proximity to public transportation. The disparity arises even as the Mortgage Bankers Association and other trade groups, policymakers and…
Read MoreHomeownership Can Be Affordable Housing
By writing policy that prioritizes Americans’ access to homeownership, lawmakers could address both the affordable home shortage and the racial wealth gap, deduces Urban Institute visiting fellow Mike Loftin. He bases his assessment—that such access will foster financial stability and mobility for millions of Americans—on data collected by Urban Institute and Zillow researchers. “Some believe homeownership…
Read MoreVA-like housing bill proposed for first responders, teachers
Legislation would axe downpayment and monthly mortgage insurance fee for firefighters, police officers, paramedics, teachers New legislation would extend a benefit similar to Veterans Affairs (VA) loans to first responders and teachers who buy homes. U.S. Representatives John Rutherford (R-Fla.), Al Lawson (D-Fla.), John Katko (R-N.Y.), and Bonnie Watson Coleman (D-N.J.) introduced the bill, dubbed the Homes for…
Read MoreHome Equity ‘Pandemic-Resistant’
It’s a great time to be a homeowner: ATTOM Data Solutions, Irvine, Calif., said home equity rose sharply in the first quarter, with equity-rich properties in the U.S. outnumbering seriously underwater homes by a 7-1 margin. The company’s first quarter Home Equity & Underwater report said 17.8 million residential properties in the United States were…
Read MoreHousing Market On Fire
A decade after the housing market emerged from a deep downturn, housing is hot again. Indeed, home values are soaring to new highs. With its double-digit appreciation and rampant bidding wars, the latest real estate party has some eerie similarities to the last one. “It’s clearly the strongest housing market that we’ve seen since the global…
Read MoreZillow: Housing Gains Could Grow Black Wealth More Than $500B in a Decade
Zillow, Seattle, said incremental increases in homeownership rates and home values among Black households would help shrink the current $3 trillion racial wealth gap by hundreds of billions of dollars over the next decade. Today’s typical Black household has only about 23 percent of the wealth of a typical white household, down from 34.6 percent…
Read MoreDown Payment Assistance Focused on First-Generation Buyers Could Help Millions Access the Benefits of Homeownership
Incentivizing current owners to sell is key As the US population becomes older and more diverse, lagging homeownership rates for young households and households of color should cause concern. Homeownership is the primary way American families have built financial security—through long-term accumulated benefits of loan repayment, appreciation, and fixed housing costs. The resulting wealth can open opportunities for homeowners’…
Read MoreDespite Price Spikes, Homeownership Remains Affordable
Two reports—from ATTOM Data Solutions, Irvine, Calif., and First American Financial Corp., Santa Ana, Calif.—say despite sharp spikes in home prices, homeownership remains affordable for most workers, which continues to drive housing demand. ATTOM released its first-quarter 2021 U.S. Home Affordability Report, showing median home prices of single-family homes and condos in the first quarter…
Read MoreWhy US Real Estate Has Prospered During COVID
It is safe to say that the majority of financial markets experienced unparalleled levels of turbulence in 2020. A global pandemic caused a sharp worldwide economic contraction, leaving a spate of global markets decimated—in many cases, both demand and supply were severely affected. The devastation has been nowhere as apparent as it has been…
Read MoreWhy More Single Women Are Invested In Homeownership And The Obstacles They Face
Previously, we reported that single women are accounting for twice as much growth in home purchases than single men. Why exactly are single women more invested in homeownership? According to a report from Credello, women are getting married and having children later in life, focusing more on their careers. The report also states that they make up just…
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