Sep 10
7 Reasons Renters Aren’t Becoming Owners Many households, particularly among younger professionals, are choosing to rent longer, despite surging rental costs. What is driving the sluggish transition from renting to home ownership? A survey of 344 renters from the New York Federal Reserve’s Survey of Consumer Expectations shows that many renters have a desire to …
Sep 09
Banks Causing Housing Slowdown? Some analysts are blaming the slowdown in the housing market on banks that are preventing too many prospective buyers from getting a mortgage. “It is difficult for any home owner who doesn’t have pristine credit these days to get a mortgage,” Federal Reserve Chairwoman Janet Yellen said in June. Bank giants …
Sep 08
Where Homes Are Most Affordable Home affordability varies greatly depending on where a buyer lives, as well as other factors. Using RealtyTrac’s income-to-price affordability ratios from more than 2,000 counties, 24/7 Wall St. pinpointed where home affordability is highest. In fact, in some markets, home owners may need to use only about 3 percent of …
Sep 05
Is This the Nation’s Next Housing Crisis? The lack of affordable, accessible, and well-located homes is failing to meet the needs of an aging population and could be the nation’s next housing crisis, a new report suggests. A new study by the Harvard Joint Center for Housing Studies and AARP Foundation points to three main …
Sep 04
Sluggish Housing Market Blamed for Drop in Title Insurance Volume Title insurance premium volume has fallen 16.6 percent during the second quarter of this year compared to last year, according to the American Land Title Association. “A lackluster spring home buying season that was weaker than anticipated, coupled with a substantial decline in refinance …
Sep 03
Millennials and Boomers Trading Places As the economy improves, Millennials and Baby Boomers are on the move, but they’re heading in opposite directions, according to a new analysis by real estate data firm RealtyTrac. Each year, 17 million Americans (or about 6 percent of the population) move into a different county, according to Census Bureau …
Sep 02
FHFA Seeks to Expand Mortgage Access The Federal Housing Finance Agency announced that it wants housing finance giants Fannie Mae and Freddie Mac to provide greater support to low-income mortgage borrowers and refinancers. FHFA, which is the regulator for Fannie Mae and Freddie Mac, outlined goals for 2015-2017 aimed at advancing that goal. …
Aug 29
Suburbanites Are Happiest Home Owners City centers and down towns may be growing in demand among millennials and retiring baby boomers, but a new poll says residents are still happiest in the suburbs. Americans who live in suburban areas are the most satisfied with the place they live, according to the Atlantic Media/Siemens State of …
Aug 28
3 Tricks for Finding the Perfect Asking Price Determining the perfect asking price involves psychological reasons as much as practical reasons, The Wall Street Journal reports. “When you set a list price, you’re sending a signal to the market,” says Michael Seiler, professor of real estate and finance at The College of William & …
Aug 27
Friendly Neighborhoods Reduce Risk of Heart Attack Knowing your neighbors may be good for your heart — and not just emotionally — according to a new study by psychologists at the University of Michigan. The more social connections you have in your neighborhood, the less likely you are to die from a heart attack, according …
Aug 26
Reasons Mortgage Demand Is Dropping Fixed-rate mortgages sank to the lowest average of the year last week, yet mortgage origination activity remains lackluster. Why aren’t more home buyers taking advantage of the lower borrowing costs? In a recent blog post, Freddie Mac analysts point to three main factors behind the decrease in mortgage originations: …
Aug 25
Where You’ll Pay the Most in Electricity Costs Home owners may find higher electricity costs are taking a bigger chunk from their wallet. The average price of electricity to residential customers reached its highest point in May than in the past two years, increasing 3.4 percent year-over-year, according to the U.S. Energy Information Administration. …
