You’ve been daydreaming about buying your first home for many months – if not years. Now it is springtime, and your daydream has become a sunny summer afternoon watching the kids run through the sprinkler on your freshly mowed lawn. But there is also that pestering feeling of being a little overwhelmed with the big
Tough Questions Arise Out of An Unprecedented Affordability Crisis
June 22, 2021 by
Blackstone Real Estate just acquired affordability innovators Home Partners of America for $6 billion. Here’s why this is big news.
California proposes subsidy to cover almost half the cost of first-time buyer’s homes
June 14, 2021 by
Lawmakers in California have come up with a dramatic new proposal that, if it comes into being, would offer hope to first time buyers that are struggling to find a home to buy in the state. California Senate Democrats have included a new program in a budget proposal unveiled last week that would massively subsidize
First-timebuyers may consider moving to lower-cost areas as challenges mount
October 16, 2020 by
Younger people are facing a problem, with rising home pricing meaning that the down payment requirement is getting higher, and many are unable to afford it. The National Association of Realtors says the median home price in the U.S. is now $350,000, which means the average buyer would need to pay $70,000 as a deposit
Millennials are driving the housing market rebound
September 1, 2020 by
Younger home buyers aged in their 20s and 30s, who were once seen as being reluctant to enter the housing market, are now driving its recovery during the COVID-19 pandemic, according to the Wall Street Journal. Even before the pandemic began, so-called millennials were starting to increase their home buying activity, accounting for more than
Fewer first-time buyers are married
February 18, 2020 by
The declining rate of marriage in the U.S. means that married couples no longer dominate the first time buyer landscape like they used to. Instead, many first time buyers are going it alone, while others are even partnering with friends in order to get a foot on the property ladder, according to new data from
First time buyers increasingly turn to bank of mom & dad
January 31, 2020 by
A third of first time buyers have been forced to ask their families or friends for financial assistance in order to buy a home, the National Association of Realtors has revealed. Some 27% of first time buyers surveyed said they’re received a cash gift from family or friends, NAR data shows. Jessica Lautz, vice president
Say Yes To The House: 3 First-Time Home Buying Tips For Newlyweds
November 25, 2019 by
It’s no secret that one of the many dreams of a newly married couple is to buy a house together. In fact, many couples have actually been putting off their wedding day in an effort to save for a down payment on a house. A house is one of the most expensive purchases you’ll ever
8.3 million first-time buyers poised to hit the market by 2022
November 4, 2019 by
A wave of first time buyers is expected to fall upon the U.S. housing market in the next three years. Around 8.3 million first-time buyers will be looking to apply for a mortgage between 2020 and 2022, according to a new report by the TransUnion credit rating agency. That’s significantly higher than the 7.6 million
Home buyers struggle with growing housing inventory shortages
October 11, 2019 by
More buyers are being tempted by the lower mortgage rates on offer this fall, but the rapidly shrinking inventory of affordable homes for sale means that few are able to find something suitable to buy, claims a new report from realtor.com. The result is more intense competition between first-time buyers and move-up buyers. Housing inventories
