Archived posts from 08/2017
August 18, 2017 | by Guest Posts
In a new Down Payment Resource survey of 750 future home buyers, 85 percent said they were looking to buy a home in the next six months. But while the current median down payment for a first-time buyer in approximately 6 percent, sixty-five percent said they think it will be moderately to extremely difficult to save for a down payment.
August 11, 2017 | by Katie Claflin
Housing affordability is generally measured as a percentage of income spent on housing costs. According to the US Department of Housing and Urban Development, a household is considered cost-burdened if it spends more than 30% of its income on housing. But Joe Cortwright, Director of City Observatory, argues that traditional measures of affordability do not consider other related costs, particularly transportation, when calculating whether a household’s housing is affordable.
August 4, 2017 | by Michael Wilt
In 2009, the U.S. homeownership rate stood at 71%. Since then, it has fallen to 63% with declines spanning every region of the country and including almost every age demographic according to a recent Gallup report.