Nearly three-quarters of U.S. residents earning less than $50,000 annually are struggling to keep up with monthly rent or mortgage payments, causing many to make dramatic sacrifices to stay afloat.
Category: affordability
2024 could be worst year for home sales since 1995: Fannie Mae
Falling mortgage rates should help boost home sales by nearly 10 percent next year, but in the meantime, inventory shortages and affordability challenges are keeping a lid on sales in many markets.
Billionaires brawl as everyone else just tries to get by: The Download
As mortgage heads from UWM and Rocket fight it out in the press, it seems like both agents and consumers are just wondering how they’re going to pay the bills.
Tale of 2 housing markets will linger into 2024, Zonda economist warns
With listings still in short supply, homebuyers are “dealing with an affordability shock” and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY.
How the Sitzer | Burnett decision hurts minority homebuyers
According to Keller Williams Head of Inclusion and Belonging Julia Lashay Israel, the Sitzer | Burnett commission case is not just about changes in agent commissions; it is about the broader implications for the accessibility of homeownership, especially for minority communities.
Record share of homebuyers flee into the path of climate change
Research shows that people are concerned about the changing climate’s impact on their hometowns, but they’re more concerned about a lack of housing affordability, according to a new report from Redfin.
This is where it takes the longest amount of time to save up for a home
In Glendale, California, a homebuyer with a median household income for the area can expect to save for 15.1 grueling years, compared to counterparts in Detroit, who will save for just 2.6 years.
Surveys show impact of mortgage ‘lock-in effect’ on seller psychology
Harris Poll finds 71 percent of Americans would be hesitant to move due to economic uncertainty over concerns, such as interest rates, inflation or a recession.