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Housing, News

Home affordability crumbles, causing demand to finally pull back

By Mike Wheatley | June 24, 2022
Ballooning mortgage costs, driven by skyrocketing prices and interest rates, have made mortgages less affordable than at any time since at least 2007. Demand for homes has pulled back in response, easing price growth, slowing sales and boosting inventory, according to the latest market report from Zillow. Mortgage rates shot up in early June, averaging […]
Housing, News

U.S. Home affordability hits worst level since 2006

By Mike Wheatley | May 5, 2022
With home prices still making double-digit gains and mortgage rates now at their highest level since 2009, Americans are facing the worst home affordability in 16 years. Now, almost all housing markets in the U.S. are less affordable than they have been historically, with affordability close to its lowest-ever point on record.  Black Knight, a […]
Housing

Study shows homeownership still more affordable than renting in most parts of the U.S.

By Mike Wheatley | January 7, 2022
Rising home prices and the issues that causes for housing affordability have attracted plenty of headlines over the past year. But homeownership is still more affordable than renting in most markets, according to the latest study by ATTOM Data Solutions. The study found that owning a media-priced, three-bedroom home is more affordable than renting an […]
Housing

Housing affordability shrinks for average wage earners

By Mike Wheatley | January 2, 2022
Analysis of the housing market shows that housing affordability shrank again in 2021, though the average wage earner in most U.S. counties can still afford to buy. The National Association of Realtors’ December Housing Affordability Index shows that surging demand for a very limited inventory of homes is fueling higher home prices, resulting in a […]
Dystopian high rises
Featured News

Tough Questions Arise Out of An Unprecedented Affordability Crisis

By Phil Butler | June 22, 2021
Blackstone Real Estate just acquired affordability innovators Home Partners of America for $6 billion. Here's why this is big news.
US Real Estate

More renters can afford to buy a home, NAR says

By Mike Wheatley | December 8, 2020
The National Association of Realtors says the number of renters who’re in a position to buy their first home has increased in the last two years. However, it says homeownership remains difficult for many to attain due to the need for a large down payment. In its latest Economists’ Outlook blog post, the NAR said […]
Home Buying

National median incomes fail to keep pace with home values

By Mike Wheatley | December 24, 2019
Housing affordability fell in October despite mortgage rates being at a historical low, according to the latest National Association of Realtors’ Housing Affordability Index. However, the NAR said that housing affordability conditions have nonetheless improved from a year ago. The issue is that home prices are rising faster than incomes, leading to houses becoming less […]
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