With home prices high and interest rates nearing 7%, mortgage debt is a growing burden on American families. But homeowners in some states are seeing this type of debt grow more than in others. A new report from WalletHub found that homeowners in Maryland, Hawaii, and Nevada added the most mortgage debt between Q3 and…
By NICOLE MURRAY California continues to dominate the luxury homes market, but that could change as communities fight for the country’s wealthiest individuals. In a recent Point2Homes.com study, analysts looked at which cities in the United States have the highest share of luxury homes worth at least $1 million for sale. Results were categorized by large,…
The U.S. Department of Housing and Urban Development is devoting more than $21 million to support affordable housing for low-income Native Hawaiian families. The funding will be distributed as a Native Hawaiian Housing Block Grant to the Department of Hawaiian Home Lands and may be used for everything from constructing new homes to buying existing…
By CHUCK GREEN Tradition dictates that April and May are the hottest months for the housing market but there are unique opportunities in parts of the country where that isn’t necessarily the case. Rick Sharga, president & CEO of CJ Patrick Company in Trabuco Canyon, California, says that although there is truth to the idea…
By KIMBERLEY HAAS Officials at the U.S. Department of Justice are claiming that condominiums and apartment complexes in Hawaii were built without accessible features required by the Fair Housing Act. The federal act prohibits discrimination in housing on the basis of disability, race, color, religion, sex, familial status, and national origin. An amended complaint was…
By KIMBERLEY HAAS A report released this month suggests that despite rising home prices it is more affordable to own a median-priced house than to rent a three-bedroom property in a majority of the United States. ATTOM’s 2022 Rental Affordability Report used fair-market rent data from the U.S. Department of Housing and Urban Development, wage…
Bidding wars on home offers from Redfin fell to 59.5% in November, their lowest level in eleven months, the company reported. It’s the first time it’s fallen below 60% since December 2020. Month-over-month, bidding wars fell 2.3%, dropping from 61.8% in October. However, they were up slightly year-over-year, from 57.3% in November 2020. They reached…
By KIMBERLEY HAAS More than a quarter of the states in the country have experienced a rental price increase of 20% or more in 2021 and a senior research analyst says people moving out of cities and into more rural communities are partially to blame. Nick VinZant works for QuoteWizard by LendingTree. He co-authored an…
Good Morning! Today is Tuesday, December 7. New York City will implement a vaccine mandate for private employers this month. President Biden will speak with Vladimir Putin today in an attempt to stave off a Russian invasion of Ukraine. Republican Representative Devin Nunes will resign to run Donald Trump’s media company. And in mortgage and housing…
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