Gen Z is stepping into homeownership, but uncertainty lies ahead as they navigate a future full of questions. Growing financial and environmental risks affect young homebuyers, according to a new analysis from Cotality, formerly CoreLogic. Their biggest challenge? Climate change. Zoomers, the generation born between 1997 and 2013, are flocking to Midwest regions to find…
Homeowners are in for more financial stress in 2023 as insurance rates are set to rise. Experts at Insurify, a virtual insurance company, predict that home insurance rates will rise 9% in 2023, from $1,636 to $1,784. That’s on top of last year’s 7% jump. Repairs are more expensive thanks to increased material costs. Just…
Both homeowners and lenders may be underestimating the rising cost of insurance following a growing number of natural disasters, according to a SitusAMC white paper titled “Weathering the Storm: Burgeoning Insurance Costs for Real Estate.” The paper found that natural disasters have impacted residential property nationwide, not just in areas with highly publicized disasters such…
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