By SCOTT KIMBLER Potential buyers are starting to wonder if moving out of urban areas continues to remain a good idea. In 2020, as housing costs were already skyrocketing, the Covid-19 pandemic hit. The combination of the two made migrating further out of large cities appealing to a lot of people, especially young people who were looking to buy a home and start a family. Fast forward to now and many of those factors have changed. As a result, some popular hotspots are starting to see a decline in frenzied buyers putting in multiple bids. Roy Black, an Economics Professor at Emory University’s Goizueta Business School, says although some areas are seeing a shift people will always be attracted to…
By SCOTT KIMBLER The 40-year mortgage is popular again but financial experts warn they come with a lot of risks and potentially no payoffs. Needham Bank, with 14 locations in Massachusetts, promotes 40-year mortgages. “Owning a home has never been so easy,” is the term they use on their website. Before the crash of 2008, 40-year mortgages were a popular option. Today, the expenses of getting into a home are driving buyers to consider signing up for loans they won’t pay off until after they are 65 years old. Roy Black is an Economics Professor at the Emory University Goizueta School of Business and has been examining real estate finance for decades. It is his opinion that negotiating a 40-year…
By SCOTT KIMBLER With Americans working from home since the start of the COVID-19 pandemic, some densely populated areas of the United States are losing residents as people move to the suburbs to escape city life, and those watching this trend say landlords shouldn’t hold their breath hoping a younger generation of renters will replace them. Elizabeth Rose of Mortgage 300 in Dallas, Texas, says there are a variety of reasons why people are moving out of big cities and isn’t sure if this migration to the suburbs and rural areas will continue after the pandemic ends. “We are seeing a trend in my area of people moving outward and there are a few factors driving this,” Rose said in…
