74 percent of U.S. housing market unaffordable for average wage earners

74 percent of U.S. housing market unaffordable for average wage earners

A cooling off the housing market has not translated to more affordable homes for the average household in the U.S. ATTOM Data Solutions reported last week in its Q3 2019 U.S. Home Affordability Report that homes in 371 of 498 U.S. counties analyzed are simply too expensive for average wage earners....

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Home buyers could find best deals in Fall.

Home buyers could find best deals in Fall.

The days are getting shorter, school is back in session and the triple-digit heat is gone. Autumn has officially arrived. But while the weather is cooling, the housing market may not be. In fact, according to a report from Realtor.com, the best time to purchase a home is the first week of Fall. Aft...

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San Diego property tax bills break record

San Diego property tax bills break record

San Diego’s Treasurer-Tax Collector Dan McAllister announced this week that his office would be mailing out this month over one million property tax bills. This marks the first that the number of bills going to local property owners has reached the 7-figure mark. “Despite the need for more housing...

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Calif.’s high home prices driving people away

Calif.’s high home prices driving people away

In a sampling of California voters, over half have said they have considered leaving the state, primarily because of the high cost of housing. According to a new poll from the UC Berkley Institute of Governmental studies of registered voters in the Golden State, 24 percent of respondents say they h...

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Homeowners respond to lower mortgage rates by refinancing

Homeowners respond to lower mortgage rates by refinancing

A rush of homeowners looking to refinance their home in response to another drop in mortgage rates helped push the volume of mortgage applications higher last week. The Mortgage Bankers Association reported in its Market Composite Index for the week ended September 27 that total volume jumped 8.1 pe...

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Six-figure salary needed to afford local homes

Six-figure salary needed to afford local homes

Using information from the National Association of Realtors, mortgage data provider HSH.com put forth a study that shows how much one needs to earn in order to afford a median home in a given region. On a national level, a household needs to take in $61,123 per year to afford a home but this varies...

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Builders constructing more single-story homes

Builders constructing more single-story homes

With more and more retirees choosing to age in the place, the popularity of single-family homes with only one story is growing. While two-story homes are still more popular among homebuilders and buyers, the gap is slowly shrinking. The National Association of Home Builders reports that the share of...

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Home remodels that pay off in many ways

Home remodels that pay off in many ways

Some homeowners invest in a renovation of their kitchen or bathroom because they hope that it will pay off when they sell their home, adding value and appeal. But in a new report from The National Association of Realtors, the benefits of a home remodeling project can pay homeowners back in ways that...

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Homeowners Associations: Friend or Foe?

Homeowners Associations: Friend or Foe?

The number of homeowners who belong to a Homeowners Association has ballooned over the past 50 years, growing from 10,000 communities in the 1970’s to over 300,000 today. And according to a survey from Porch.com, it’s a love-hate relationship. HOA households appreciate that their community associat...

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Senior housing wealth hits new record

Senior housing wealth hits new record

An increase in home values helped push housing wealth among homeowners 62 and older to a new all-time high. According to the National Reverse Mortgage Lenders Association, senior housing wealth grew by 0.5 percent or $32 billion in the second quarter to $7.17 trillion. “Many retired and soon-to-be-...

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