Posts Tagged housing markets

Income needed to afford a home in 15 of the largest U.S. cities

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Home prices and housing affordability are at the forefront of real estate and economic news these days, and with good reason. Improvements in our country’s job market, renewed consumer confidence and a surge in housing demand all has contributed to economic growth in the United States. However, higher growth sometimes leads to higher price tags – especially when it comes to real estate.

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Housing Markets Getting Back to Normal

http://www.midamericamortgage.com/millions-homeowners-missing-savings-not-refinancing/

Ups and downs are a ‘normal’ part of any market, with housing being no exception. However, after the tumultuous years following the 2007-2008 economic downturn, U.S. housing endured struggle after struggle. From an overwhelming number of foreclosures to a shortage of existing homes for sale, now – finally – reports are indicating that the U.S. has reached (or very nearly reached) normal levels of economic and housing activity. The latest report comes from the National Association of Home Builders (NAHB). In an August 4 press release, the NAHB stated that, markets in 146 of the approximately 340 metro areas nationwide

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Rents Now Top List of Fastest-Rising Prices

http://www.midamericamortgage.com/millions-homeowners-missing-savings-not-refinancing/

Renting a home may provide some benefits that owning does not, like the freedom to move after a shorter period of time and low maintenance living. However, renting doesn’t always come cheap. In fact, a recent report from CNBC says the price of rental housing is now the fastest-rising cost for American households. While the cost of food, clothing and transportation has only made slight increases over the last year, the cost of rental housing has surged. According to CNBC, the government’s monthly report on the consumer price index indicated that in May 2016, the annual rise in rental income approached

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