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
Study shows homeownership still more affordable than renting in most parts of the U.S.
January 7, 2022 by
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.
More renters can afford to buy a home, NAR says
December 8, 2020 by
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
NAR throws its weight behind “Pandemic savings” bill for first-time buyers
July 24, 2020 by
Rep. Sean Maloney, D-N.Y., proposed a new bill this week to the U.S. House of Representatives that would allow first-time home buyers to withdraw funds, tax-free, from their retirement accounts under the umbrella of coronavirus-related distributions. The funds could then be used towards a down payment on a new home, helping more people to attain
Ratio of single homeowners increases to record high
February 28, 2020 by
Americans are increasingly heading into homeownership alone, with the share of homeowners in the U.S. who describe themselves as “single” hitting a record 38.4% in 2018, according to U.S. Census data. Moreover, around 48.5% of singles aged 18 to 34 owned a home in 2018, the highest number since 2009, USA Today reported. The main
Zillow says more Gen Zers than millennials will become homeowners
December 19, 2019 by
The oldest Millennials, who will turn 40 in 2020, have lived through a turbulent decade of housing marked first by the initial recovery from the Great Recession, then the extraordinary home value growth of recent years. Due in large part to a variety of affordability challenges delaying all sorts of major life milestones, the homeownership
Gen Z survey shows growing optimism over homeownership
November 25, 2019 by
If you’re looking for a reason to be optimistic about the future of housing, look no further than Generation Z, the demographic that comprises the youngest potential consumers. A new survey from Freddie Mac shows that Gen Zers aged 14 to 23 on the whole are more positive about what it means to be a
Millennials say they’re worried they’ll never become homeowners
November 20, 2019 by
A significant number of millennials report feeling trapped as renters, saying they’re unable to save enough money to become homeowners, according to a new study from Apartment List. In its 2019 Millennials & Homeownership Report, which analyzes attitudes, expectations and actions of 10,000 millennial renters in the U.S., Apartment List notes that the vast majority
Report: Younger generations make bigger sacrifices to become homeowners
October 25, 2019 by
Home value growth is slowing compared to recent years, but that hasn’t made affording one any easier, especially for younger generations. A majority of home buyers (55%) make some sort of financial sacrifice, like cutting their entertainment budget or reducing their savings, in order to buy a home, according to the 2019 Zillow Group Consumer
Alternative mortgages providing a back door to homeownership
October 8, 2019 by
Consumers with bad credit ratings are increasingly taking advantage of alternative mortgage products that allow them to buy a home without a huge down payment, often through lease-to-own contracts. But borrowers still need a steady income to qualify for these products, the Wall Street Journal reported. One example is a company called Divvy Homes, which
