U.S. Home affordability hits worst level since 2006

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

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Russia – Ukraine war threatens to impact U.S. housing affordability

Russian President Vladimir Putin ordered his military forces to invade Ukraine this week and the conflict has made headlines around the globe. Experts say financial markets across the world will likely feel the impact of what’s said to be the largest military operation in Europe since World War II. In the U.S., experts say the

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

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

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Housing affordability shrinks for average wage earners

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

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FHFA tells Fannie & Freddie to focus on housing affordability in 2022

The Federal Housing Finance Agency has put affordability at the top of its agenda in its annual to-do list for government-sponsored enterprises, Fannie Mae and Freddie Mac. In its 2022 Scorecard, the FHFA also called on Fannie and Freddie to update their pricing frameworks to boost support for “core mission borrowers”. The target is loan-level

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Teachers and nurses are being forced to live in older, smaller rental homes

The coronavirus pandemic has helped thousands of Americans to relocate to more affordable parts of the country thanks to their ability to work remotely from anywhere. But for people whose jobs still require them to be there in person – such as teachers and nurses – the opposite is true. As a new analysis from

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Student debt cited as biggest obstacle to homeownership by half of would-be buyers

Home buyers are increasingly being held back by student debt, according to a new report by the National Association of Realtors and Morning Consult. The report delivers the alarming finding that half of all potential home buyers surveyed this year said they didn’t buy a home due to their mounting student debts. And it’s mostly

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Buyers are choosing affordability and space over short commutes

Americans are increasingly showing a preference for affordability over shorter commute times, as the price of homes within easy reach of downtown job centers grows more slowly than those that are further flung, a new study has found. The analysis from Zillow and maps provider HERE Technologies notes that short commute times have always come

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Buyers face less bidding wars as competition eases

There are signs that competition among buyers in the red hot housing industry is easing, though the market still remains much more competitive than in recent years. A recent report from digital real estate brokerage Redfin has shed light on the reduced demand for mortgage application purchases in May. In other words, there were slightly

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Military vets have housing affordability edge, study finds

Active-duty military and veteran households are, on average, better able to afford housing than a typical U.S. household, according to a new Zillow analysis. Nationally, it would take 29.6% of the typical household income to pay the median rent – just below the 30% rule of thumb for affordable housing. Active-duty military households would spend

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