The trend we address in this short narrative is the shrinking playing field for first-time homebuyers who are more and more being shut out of buying opportunities by institutional cash buyers and losing the attendant opportunity for the creation of generational wealth.
Tag: Homeownership
Matthew Covi of Chimney: Is Homeownership Still the American Dream?
Buying (and now owning) a home can be a challenging endeavor. Our journey started with a year-long search for the right home. We then went through a stressful six-month renovation. And as sticker shock set in, we ended up needing to take out a HELOC to pull it all off. It was by far the biggest investment I’ve made in my life so, of course, the experience had its ups and downs.
Matthew Covi of Chimney: Is Homeownership Still the American Dream?
Buying (and now owning) a home can be a challenging endeavor. Our journey started with a year-long search for the right home. We then went through a stressful six-month renovation. And as sticker shock set in, we ended up needing to take out a HELOC to pull it all off. It was by far the biggest investment I’ve made in my life so, of course, the experience had its ups and downs.
Matthew Covi of Chimney: Is Homeownership Still the American Dream?
Buying (and now owning) a home can be a challenging endeavor. Our journey started with a year-long search for the right home. We then went through a stressful six-month renovation. And as sticker shock set in, we ended up needing to take out a HELOC to pull it all off. It was by far the biggest investment I’ve made in my life so, of course, the experience had its ups and downs.
Matthew Covi of Chimney: Is Homeownership Still the American Dream?
Buying (and now owning) a home can be a challenging endeavor. Our journey started with a year-long search for the right home. We then went through a stressful six-month renovation. And as sticker shock set in, we ended up needing to take out a HELOC to pull it all off. It was by far the biggest investment I’ve made in my life so, of course, the experience had its ups and downs. Now we’re living in our dream (starter) home as we await the arrival of our little girl, and I’ll let you in on a secret. It was all worth it.
Millennials, Gen Z Continue to Lag Behind in Homeownership
Millennials and Gen Z—the most underrepresented cohorts in homeownership—continue to lag behind after nearly two years into the coronavirus pandemic, according to a survey by PropertyShark, New York.
When Baby Boomers, Millennials Compete for Homes, Boomers Usually Win
The two largest population cohorts in the U.S.—Baby Boomers and Millennials—are competing for scarce supply of homes in most markets. And, according to an analysis by Zillow, Seattle, Boomers are winning in most cases.
Stanley Middleman of Freedom Mortgage: Let’s Use What We Learned from Past Housing Mistakes
We must remember to encourage people to buy homes they can afford and educate them on the costs that go with owning a home. That includes advising consumers not to borrow as much money as they possibly can, lest they become “house poor” and miss out on being able to create a more financially secure future for themselves and their families.
Zillow: Housing Gains Could Grow Black Wealth More Than $500B in a Decade
Zillow, Seattle, said incremental increases in homeownership rates and home values among Black households would help shrink the current $3 trillion racial wealth gap by hundreds of billions of dollars over the next decade.
RIHA Study: Widening Inequality After Great Recession Attributed to Decline in Homeownership, Home Values
Distribution of wealth among U.S. households became increasingly unequal from 2007 through 2016 as a decline in homeownership and home values impacted the wealth of middle-class families, according to a new research report, The Distribution of Wealth Since the Great Recession, released yesterday by the Mortgage Bankers Association’s Research Institute for Housing America.