Tag

Homeownership

All articles tagged with #homeownership

real-estate1 month ago•14 min saved

First-Time Homebuyers Confront Growing Cost Burden

New homeowners in 2024 spent about 26% of their income on housing vs 20% for longer-tenured owners—a six-point gap dubbed the 'new homeowner penalty' and the widest since 1990—driven by high prices, mortgage rates hovering around 6%+, and rising costs like insurance and taxes. The result is a stubborn affordability crunch for first-time buyers, even with savings and family help; policymakers point to boosting housing supply through streamlined permitting and zoning reforms as the long-term fix, though effects will take time and vary by region.

via Business Insider|

#homeownership #housing-affordability #income-inequality

business2 months ago•2 min saved

Job Type Determines Who Buys a Home in America

A National Association of Realtors analysis of Census data finds U.S. homeownership rates differ by occupation: management and business professionals lead at about 72% ownership in 2024, education and social services around 67%, and STEM/technical workers about 67% but dipping since 2014; service workers remain lowest at about 46%, with the national rate near 65%. Local variation is substantial: in 61% of the 368 metros, the occupation most likely to own a home in 2024 differs from 2014, and affordability constraints—medians around five times income—mean many earners are priced out of homeownership.

via Axios|

#business #homeownership #housing-affordability

politics2 months ago•6 min saved

Bipartisan Senate approves housing bill to boost supply and curb large investors

The Senate passed the 21st Century ROAD to Housing Act 89-10 to expand housing supply via grants, pilots, and streamlined environmental reviews, while prohibiting large institutional buyers from certain single-family homes to boost homeownership. The bill faces an uncertain path in the House, as Trump prioritizes other voting legislation.

via NBC News|

#bipartisan #homeownership #housing

politics3 months ago•4 min saved

Senators Seek to Curb Wall Street Buying of Single-Family Homes

Senators Hawley and Merkley unveiled the Homes for American Families Act to bar investment funds with more than $150 million in assets from buying single-family homes, condos, or townhouses, with DOJ antitrust enforcement; the bill aims to ease the housing affordability crunch, excludes homebuilders, and comes as Trump and other lawmakers push to curb big investors in the housing market.

via CBS News|

#antitrust #homeownership #housing

politics3 months ago•1 min saved

Trump Administration Promises Broad Push to Rebuild Homeownership and Lower Costs

The White House asserts its government-wide housing plan is lowering costs and expanding access to homeownership, noting mortgage rates have fallen to multi-year lows, affordability indices and buyer activity are improving, rents are down, and refinancings are surging. It highlights actions such as directing Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities to reduce borrowing costs, curbing large institutional purchases of single-family homes, restricting taxpayer-backed mortgages to U.S. citizens, and scrapping the Affirmatively Furthering Fair Housing rule to streamline local housing decisions. The administration says these measures will strengthen the housing market for American families and advance the dream of homeownership.

via The White House (.gov)|

#affordability #homeownership #housing-policy

economy3 months ago•4 min saved

K-shaped Recovery Could Deepen US Class Divide, Warns Economist

Economist Peter Atwater warns that a persistent K-shaped recovery could create a caste-like divide in the US by widening gaps in asset ownership (homes and stocks) and opportunities for low-earning Americans; while he believes the split may eventually reverse if confidence rises and policy addresses the income gap.

via Business Insider|

#consumer-confidence #economy #homeownership

politics4 months ago•3 min saved

Trump Targets Wall Street in Housing Plan to Put Homebuyers First

President Trump signed an executive order to prevent large institutional investors from buying single-family homes, directing agencies to prioritize owner-occupants, impose disclosure and anti-circumvention rules, review related guidelines, and pursue legislation to curb Wall Street’s role in housing; the plan also asks Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed securities to lower borrowing costs.

via The White House (.gov)|

#executive-order #homeownership #housing-policy

policy4 months ago•4 min saved

White House Targets Wall Street Buyers to Restore Starter-Home Access

The White House issued an executive order to curb large institutional investors from buying single-family homes that could be owned by families, with definitions to be developed within 30 days and guidance to federal agencies to limit such purchases and promote owner-occupant sales within 60 days, including narrow exceptions for build-to-rent; the order also calls for Treasury rule reviews, antitrust enforcement focus on large acquisitions, and mandatory disclosure of ownership in rental homes for federal programs, aiming to preserve supply for families and paving the way for legislative codification.

via The White House (.gov)|

#antitrust #homeownership #housing-policy

world4 months ago•36 min saved

Trump Tests 401(k) Flexibility for Home Purchases, Sparks Debate

President Donald Trump is set to unveil a plan allowing savers in 401(k) retirement plans to use some of their money for down payments on a home. While supporters see increased flexibility for would-be buyers, advisers warn of long-term retirement risks, potential benefits skewed toward wealthier savers, and questions about whether this actually helps those in greatest need. Details remain unclear as the policy is developed.

via Bloomberg.com|

#401k #down-payment #homeownership

real-estate4 months ago•2 min saved

Trump's Housing Policies Target Wall Street Investors to Boost Affordability

Institutional investors own a small overall share of US single-family rental homes, but their ownership is heavily concentrated in Southern and Sun Belt cities like Atlanta, Dallas, and Phoenix, where they control significant portions of the rental market. President Trump has proposed banning large institutional investors to make homeownership more affordable, but experts argue that the real issue is a nationwide housing shortage, and that concentration of ownership could lead to higher rents and market power concerns.

via Business Insider|

#homeownership #housing-market #institutional-investors

economy5 months ago•4 min saved

The Rising Cost of the American Dream: Now $5 Million

Achieving the American dream now costs approximately $5 million over a lifetime, covering key goals like retirement, homeownership, and raising children, with costs rising compared to previous years, highlighting the increasing financial challenge for Americans.

via USA Today|

#american-dream #costs #economy

real-estate5 months ago•7 min saved

California Homeownership: Changing Trends and Long-Term Residency

In California, the traditional view that homeownership is always financially advantageous is being challenged due to high prices, mortgage costs, and market uncertainties, making renting a potentially smarter financial choice for many, despite the social and personal benefits of owning a home.

via CalMatters|

#california #financial-comparison #homeownership

legalconsumer-rights5 months ago•6 min saved

Legal Challenges of Trusting Your Home

Joyce Gifford's experience highlights the complexities and potential pitfalls of placing a home into a trust, as she discovered her ownership was transferred without clear understanding, leading to stress and legal battles after the firm McClure went bust. The case raises concerns about the effectiveness and regulation of asset protection trusts, with others sharing similar stories of financial loss and confusion.

via BBC|

#asset-protection #homeownership #legal-controversy

local-government-and-education5 months ago•5 min saved

Wisconsin Property Taxes Reach Highest Levels Since 2018

Wisconsin homeowners are facing the highest property tax increases since 2018, driven by stagnant state support, increased school funding needs, and voter-approved referendums, leading to significant hikes in local taxes and raising concerns about housing affordability.

via WPR|

#homeownership #local-government-and-education #property-taxes

business6 months ago•1 min saved

Experts Criticize Trump’s 50-Year Mortgage Proposal for Limited Savings

Experts criticize President Trump's proposal for 50-year mortgages, arguing it may temporarily lower monthly payments but could slow home equity building and pose long-term financial challenges, especially for older first-time buyers. The White House states that any policy changes will be officially announced, but analysts see the idea as a potential band-aid rather than a solution to housing affordability.

via Politico|

#business #fannie-mae #homeownership