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Consumer Report

Housing Costs Plunge for Owners, Soar for Renters

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  A much higher proportion of renters than homeowners are cost burdened by their housing expenses and the number is growing quickly due to rising rents and affordable home prices. Last year, 39.6 million households spent more than 30 percent of their income on housing, down from 40.9 million in 2012 and a peak of 42.7 million in 2010.  Still, ... Read More »

Application Frustration Drives Away First-timers

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Lack of understanding, inexperience and uncertainty about the process of applying for a mortgage is keeping large numbers of potential homebuyers out of homes because lenders often fall short in providing advice and guidance. Some 58 percent of prospective home buyers in a recent J D Powers surrey were first-time home buyers. Lack of experience among these customers and uncertainty ... Read More »

Millions of New Households Await Better Times

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  Stagnant incomes and rising rents have left the nation with an unprecedented number of doubled-up households as people moved in together to make ends meet. All those roommates have changed the American housing landscape, with 5.4 million households that would exist under normal conditions instead lost in guestrooms and basements, sharing space with friends, family and roommates, waiting for ... Read More »

Millennials on Verge of Home Buying Explosion

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Despite reports that oppressive student debt or a desire to a desire to keep renting will keep homeownership rates for twenty and thirty-somethings at record lows, millions of them are waiting on a slightly fatter paycheck to begin the process of buying a first home, according to a new national study. An increase of 15 percent or less in annual ... Read More »

Fannie Sees Sunshine

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Fannie Mae’s monthly consumer survey found that most consumers surveyed believe prices will rise by 2.2 percent over the next year even though they are falling now and fewer than half think mortgage rates will go up in the next 12 months even though rates today are near historic lows. Moreover, in September, the share of consumers who say now ... Read More »

Millennials Warm Up a Little Bit

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Millennials are feeling slightly better about themselves, which is making pollsters feel even better about the future of the housing markets.  Just how long the next generation will take to get serious about the process of home buying still makes experts nervous. Overall, Americans are more confident in their housing market than at the start of the year, according to ... Read More »

Homebuyers are on the Horizon

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  Tired of waiting for the millennial generation to buy a house? If you’re willing to wait another ten or twenty years, things will finally get better according to a new study funded by Better Homes and Gardens Real Estate. Young people of the future, it seems, are already planning to rebel against their Rentorship Generation older brothers and sisters ... Read More »

Sneak Attack! Closing Costs Soar 20.8 Percent

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While most homebuyers are focused on rising home prices, closing costs are rising nearly as quickly over the past three years, increasing by more than 20 percent since 2010, according to Bankrate.com Mortgage closing costs rose 6 percent over 2013 after rising 6 percent in 2012 and 8.8 percent in 2011 The now average $2,539 on a $200,000 loan. Each ... Read More »

Buyers Bloom in the Springtime

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Daffodils, April showers, robins and a new crop of For Sale signs seem to be working their seasonal magic on home buyers.  The latest Fannie Mae survey, conducted in March, reports that the gloominess that shrouded buyers during the bitter winter months has melted away and attitudes are nearly as positive as they were a year ago. Consumers who said ... Read More »