The Salary Needed To Afford a Home Has More Than Doubled Since Before the Pandemic

Housing Market, Residential / By

Published by REALTOR.com | July 16, 2024 The combination of high list prices and elevated mortgage rates means owning a home now costs nearly twice as much as it used to. Scraping together enough money to buy a home can seem like a fruitless endeavor, especially in today’s housing market dominated by high mortgage rates …

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FORBES: How To Determine The Highest And Best Value For Your Property

Commercial Property, Residential / By

Published by Forbes.com | July 7, 2024 If you’re selling a property, you’ll want to evaluate the highest and best value, which can lead to the highest selling price. If you’re selling a property, one of the first questions you’ll want answered relates to the value of the property. When you know an estimate for …

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Mortgage Refinance Falls Again, Despite Homeowners Sitting On $17T in Equity

Interest Rates, Mortgages / By

Published by FOX Business | July 10, 2024 American homeowners are sitting on a record $17 trillion in equity, yet the rapid rise in mortgage rates over the past two years has prevented many of them from tapping their equity in order to refinance. Data published Wednesday by the Mortgage Bankers Association (MBA) shows that …

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Biden’s New Home Construction Efficiency Rules Cause Outrage, Doubts Over Affordability

Politics, Residential / By

Published by FOX Business | July 8, 2024 A Biden-Harris administration official rejected claims the new standards will further burden first-time homebuyers and families already facing record high prices. The Biden administration on Monday rejected claims from Congress and homebuilder groups that new energy efficiency standards for home construction will make a bad economic situation …

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Home Affordability Just Hit Its Lowest Point Since 2007

Economy, Residential / By

Published by REALTOR.com | July 3, 2024 Expenses associated with owning a home—including the mortgage, homeowners insurance, and real estate taxes—now take up 35.1% of a homeowner’s take-home pay Home affordability is at its lowest point since 2007, according to a new report from ATTOM Data Solutions. Expenses associated with owning a home—including the mortgage, …

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BOA: Housing Market To Remain ‘Stuck’ Until At Least 2026

Economy, Housing Market / By

Published by CNBC | June 25, 2024 The housing market is unlikely to recover for several years and affordability won’t get any better unless a recession hits, according to Bank of America economists. In a mostly pessimistic outlook on the sector, the bank sees a variety of factors lining up against both a major improvement …

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