The average annual cost of owning and maintaining a single-family home in the U.S. is 26% higher now than four years ago, according to Bankrate, New York.
Tag: Homeownership
Buyers Willing to Give Up Land in Exchange for Homeownership
High mortgage rates and double-digit growth in home prices since COVID-19 are forcing home buyers to compromise on lot size and square footage to afford a house, the National Association of Home Builders reported.
Many Aspiring Homeowners Cite Cost of Living, Insufficient Income as Roadblocks: Bankrate
More than half of aspiring homeowners say the current cost of living is too high or their income is not high enough to afford a down payment and closing costs for a home (51% and 54% respectively), reported Bankrate, New York.
95% of Millennials Report Facing Barriers to Homeownership, Survey Finds
While 78% of millennials say purchasing a home is part of the American dream, 48% don’t think homeownership is affordable for the average member of their generational cohort.
Zillow: Younger Generations Believe in Homeownership, But Don’t Know How To Achieve It
The American dream of homeownership is not dead for Generation Z and Millennials, but they believe their path to get there will be challenging and may require some luck, reported Zillow, Seattle.
Higher Rates Make Renting More Affordable that Homeownership
ATTOM, Irvine, Calif., said higher mortgage interest rates tipped the needle toward renting over homeownership.
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.
Freddie Mac: Single Women Have Low Confidence in Homeownership Prospects
Freddie Mac, McLean, Va., reported nearly 60 percent of single female head-of-household renters feel homeownership is out of reach indefinitely.
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 last week by the Mortgage Bankers Association’s Research Institute for Housing America.
Surveys: Half of Homeowners Plan to Move this Decade—And They’ll Argue About It
A major share of homeowners has a new home purchase in mind in the coming years. Another group plan to downsize by renting, according a survey by LendingTree, New York.