High rents don’t just hurt Americans’ pocketbooks—they could be affecting people’s health too. A new study shows that more than half of renters say they delayed health care because they couldn’t afford it. Medical professionals surveyed said they’ve dealt with patients who have expressed concerns and anxiety about affordable housing, according to the survey of 1,000 U.S. renters commissioned by Enterprise Community Partners
Bank of America announced on Tuesday a new $5 billion affordable homeownership initiative that will include down payment or closing cost help for low- to moderate-income and multicultural home buyers. The program is aimed at helping more than 20,000 individuals and families over the next five years move toward homeownership, the bank said.Bank of America’s Neighborhood Solutions program includes a down payment and closing cost assistance o
Technology may be aiding home searches, but buyers know they can only go so far before they need a real estate agent. Eighty-seven percent of all buyers purchased their home through a real estate agent—and 92 percent among buyers 28 and younger, according to the National Association of REALTORS®’ newly released 2019 Home Buyers and Sellers Generational Trends Report.The biggest benefit of using a real estate agent during buyers' home se
High rents continue to wreak havoc on Americans’ pocketbooks. “Rental affordability is a significant challenge for metropolitan areas across the United States,” says Steve Guggenmos, vice president of Freddie Mac Multifamily Research and Modeling. “Our research shows that supply just hasn’t kept pace with demand in many metros, and that’s pushing affordable rents out of reach for millions of American families.”Of the top 50 largest
Downsizing is losing its appeal, and most home buyers are supersizing their home again to accommodate a growing number of people under one roof, according to the National Association of REALTORS®’ newly released 2019 Home Buyers and Sellers Generational Trends Report.Multigenerational homes are growing in demand. One in six Gen Xers purchased a home that could accommodate multiple generations, and most of them did so because of their
Seventy-nine percent of consumers say that a lawn is an important feature when renting or buying home. Many consumers are even ranking a nicely sized yard as the second most important home feature, only behind a renovated kitchen, according to a new survey released by the National Association of Landscape Professionals.Sizable lawns trumped other popular features like updated bathrooms, storage, and hardwood floors, according to the survey.Younge
More than 4.9 million homeowners could see a drop in their interest rates if they refinanced their mortgage, according to a new analysis from Black Knight, an analytics provider. That’s up 1.6 million from one week ago.Freddie Mac reported last week that 30-year fixed-rate mortgages dropped to 4.06 percent, down from 4.28 percent the week before. It was the biggest drop in rates in more than a decade.“While this will certainly impact buy
New-home construction is poised to break ground at faster rates in several markets across the country. This could open up housing inventory in some places starved for more homes for sale.“Adding new homes is key to a city’s economic health,” says Robert Dietz, chief economist at the National Association of Home Builders. The bulk of the new-home construction is occurring in the South and Southwest, where land and construction costs tend to
Millennials are the largest buying force in the housing industry, according to the National Association of REALTORS®’ newly released 2019 Home Buyers and Sellers Generational Report. This generation of buyers, who are between the ages of 21 and 38, account for 37 percent of all home purchases. “The largest cohort in America is growing up and becoming more traditional in their buying habits,” the report notes.Older millennials—those
Seventy-eight percent of home buyers say a linen closet in the master bathroom is “desirable” or an “essential/must-have feature,” according to the National Association of Home Builders’ 2019 What Home Buyers Really Want Survey. The report is based on responses from recent and prospective home buyers who plan to purchase within the next three years.Buyers were asked to rate a list of features they most wanted in a bathroom. A shower sta
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