Historically low rates are increasing home buyers’ purchasing power, but low inventories and rising home prices are effectively canceling out that purchase power, said Redfin, Seattle.
Tag: Affordability
Freddie Mac: More High-Income Households Renting, But Low-Income Renters Face Limited Options
Fewer than 10 percent of rental units are currently affordable to renter households earning 50 percent of median renter income, reported Freddie Mac, McLean, Va.
‘Silicon Prairie’ Communities Top List of Up-and-Coming Tech Markets
Looking for a place to launch—or provide a mortgage to—a startup? Oklahoma City, Kansas City and Jacksonville provide best potential for growth, while affordability and labor-competition challenges see Silicon Valley desirability fade, according to a new report from Zillow Inc., Seattle.
What $1 Million Gets in Today’s Housing Market
Location, location, location: take a $75,000 bungalow in Garfield Heights, Ohio and plop it down on a 1/3-acre lot in McLean, Va., and it suddenly becomes an $800,000 object of a bidding war.