Would-be home buyers may be forced to rent the American dream, rather than buy it

Would-be home buyers may be forced to rent the American dream, rather than buy it

2 years, 9 months ago

Would-be home buyers may be forced to rent the American dream, rather than buy it

CBS News

Every American is feeling the bite of inflation. Lesley Stahl: Really-- Brittney House: It's-- yeah-- Lesley Stahl: You're really cutting back on groceries. Lesley Stahl: And the-- Gary Berman: Toronto Stock Exchange. Lesley Stahl: And if things go wrong-- if there's a leak-- Gary Berman: If things go wrong-- Lesley Stahl: We call you. Lesley Stahl: We were told by the head of one of these big companies that people your age want to rent, that you're not as interested in buying a house.

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The median renter in America has a net worth of $10,400. The median homeowner’s net worth is $400,000

1 week, 1 day ago

The median renter in America has a net worth of $10,400. The median homeowner’s net worth is $400,000

CNN

CNN — Two years ago, Elizabeth Grantham decided she didn’t want to rent much longer, so she moved from her hometown in the pricey San Francisco Bay Area to Washington state to save up to buy a home. “In this economy it’s literally impossible.” Those who want to buy their first homes have faced the one-two punch of rising home …

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Home loans emerge as top financing choice for potential home buyers: Report

1 month, 2 weeks ago

Home loans emerge as top financing choice for potential home buyers: Report

Hindustan Times

As many as 80% of people who aspire to own property prefer to take a home loan for it. Besides location, size, affordability, availability of financing options and future resale value are factors that dictate the home buying decision making process, a report by Knight Frank India has said. As many as 80% of people who aspire to own property …

India Real Estate Home Loans Report Buyers Respondents Knight Frank India

How did TV characters afford their homes then, and could they now?

2 months ago

How did TV characters afford their homes then, and could they now?

Salon

It’s no secret the housing market has skyrocketed in recent years. Danny Tanner from “Full House” Danny Tanner was a San Francisco widower father of three girls who lived in one of the most iconic houses on TV in the 1990s, but his TV broadcaster salary wouldn’t be enough to cover the current $6.5 million mortgage on his home or …

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Why are we so obsessed with the idea of owning a home in the UK? I’m a millennial and I’ll rent forever

2 months, 1 week ago

Why are we so obsessed with the idea of owning a home in the UK? I’m a millennial and I’ll rent forever

The Independent

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. A lot of people in London …

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To renovate an apartment — and not jack up the rent: These property owners have found a way

2 months, 3 weeks ago

To renovate an apartment — and not jack up the rent: These property owners have found a way

LA Times

Mariana Puche Hernandez in front of her apartment in East Los Angeles that’s been renovated and kept affordable by a local community land trust. A recent Times investigation found U.S. public pensions are investing billions of dollars into riskier real estate funds that acquire apartment buildings, renovate them and, on average, raise rent faster than other landlords in the surrounding …

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Understanding the Buy-Lease-Operate model

5 months, 2 weeks ago

Understanding the Buy-Lease-Operate model

The Hindu

Buy-Lease-Operate is slowly gaining traction in the ever-changing environment of real estate investing, disrupting traditional notions of property ownership and administration. BLO has risen as a strategic approach to real estate investing, providing investors with an alternative to property ownership and administration. This financial stability and lucrative return on investment make the BLO model an attractive proposition for savvy investors …

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US renters seeing chance of owning a home at record low, NY Fed Survey shows

7 months, 2 weeks ago

US renters seeing chance of owning a home at record low, NY Fed Survey shows

Hindustan Times

Bloomberg Business US renters are more pessimistic about their ability to ever own a home and households’ expectations of home-price growth has reaccelerated after falling last year, a new Federal Reserve Bank of New York survey showed -- US renters are more pessimistic about their ability to ever own a home and households’ expectations of home-price growth has reaccelerated after …

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Has the great Australian dream of affordable home ownership turned to a nightmare?

8 months, 2 weeks ago

Has the great Australian dream of affordable home ownership turned to a nightmare?

ABC

Almost everyone recognises the problem. A recent study by the US Federal Reserve Bank of Dallas found that while higher rates since 2021 had made life tougher for home buyers, affordability would have been even worse if rates hadn't risen because housing prices would have risen more. Since the turn of the century, lower interest rates have allowed home buyers …

Real Estate Housing Market Property Wealth Prices Home Buyers

The American Dream is under siege

9 months, 3 weeks ago

The American Dream is under siege

CNN

New York CNN — The long-rumored recession has been postponed – or perhaps canceled altogether. Courtesy Hana Husković and Carolina Landaverde Photography “I don’t know if we’ll ever be able to buy a home,” Hana said. The one-two punch of high home prices and elevated mortgage rates caused by the Federal Reserve’s war on inflation has made the housing market …

Housing Market Ice Mortgage Affordability California High

Millennials buying a house: Why I can rent a million-dollar home but somehow not be able to buy one.

11 months ago

Millennials buying a house: Why I can rent a million-dollar home but somehow not be able to buy one.

Slate

This is Emotional Investment, Joel Anderson’s column about money and how we think about it. Because I’m not sure if exchanging all the benefits of my Bay Area life is worth owning a home in a place like Wisconsin. You don’t have to live like this.” But the thing that my friends and family members miss about our affection for …

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Buying a home is now 52% MORE expensive than renting one, new analysis finds, with typical mortgage payment $1.1K higher than rent

1 year, 2 months ago

Buying a home is now 52% MORE expensive than renting one, new analysis finds, with typical mortgage payment $1.1K higher than rent

Daily Mail

Americans buying property are now paying 52 percent more on mortgage payments than the average cost of renting a home - the highest premium for buying since at least 1996. The average cost of a new lease for a family home was around $2,184 in the third-quarter of this year, according to research by real estate intelligence firm CBRE In …

Housing Mortgage Payment Cost Month According Average

There’s never been a worse time to buy instead of rent

1 year, 2 months ago

There’s never been a worse time to buy instead of rent

Live Mint

Getting on the property ladder has rarely been tougher for first-time buyers. After the global financial crisis, though, rock-bottom interest rates and plenty of housing supply meant it was 12% cheaper on average to buy a home than to rent one during the 2010s. The current hefty ownership premium reflects the surging cost of debt, as rates on a 30-year …

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Cost of renting a home rises at record pace

1 year, 3 months ago

Cost of renting a home rises at record pace

The Telegraph

Developers are building homes with fewer bedrooms as high mortgage rates hammer buyer affordability. Economics reporter Melissa Lawford has the story: A double whammy of high borrowing costs and the end of the Help to Buy equity loan scheme means the size of a typical new home is shrinking as builders adjust to a drop in demand. They are selling …

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Is the American Dream Dying? Here's Why More People in the US are Moving to Europe

1 year, 3 months ago

Is the American Dream Dying? Here's Why More People in the US are Moving to Europe

News 18

More people in the US are now moving to Europe and the trend has been evident in recent years. Several families in the US have bought properties and shifted to European countries for peaceful and better life amid serene natural surroundings due to a range of reasons including affordable housing, cheaper living and quality life. Affordable property and Quality Life …

Europe Spain Portugal Life Countries American European

From renting to owning: Millennial revolution in homeownership

1 year, 4 months ago

From renting to owning: Millennial revolution in homeownership

Hindustan Times

The Covid-19 pandemic unleashed a wave of unforeseen challenges and disruptions, shaking the foundations of our world. According to a white paper by 360 Realtors, a leading real estate consultancy, there are 400 million millennials in India, comprising 46% of the country's wage-earning population. A survey by CBRE titled “Live, Work, Shop” reveals that over 70% of Indian millennials aspire …

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Add FIRE to your buying journey

1 year, 5 months ago

Add FIRE to your buying journey

The Hindu

You’re not alone if you harbour a desire to finally buy your own home and get off the rental treadmill. The great Indian homeownership dream is driven by a combination of cultural norms valuing property ownership, increasing urbanisation and economic growth leading to higher disposable incomes, and various government initiatives encouraging homeownership. Apart from eliminating monthly rent payments, owned homes …

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The gulf between Black homeowners and White is actually getting bigger, not smaller

1 year, 9 months ago

The gulf between Black homeowners and White is actually getting bigger, not smaller

CNN

Washington, DC CNN — While more Americans own homes today than a decade ago and the rate is increasing across all races, the gap between Black homeownership rates and that of any other race or ethnic group is even larger now than in 2011, according to a new analysis by the National Association of Realtors. The homeownership rate for White …

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Americans sour on homeownership: just one in five says they could easily buy a home

2 years, 1 month ago

Americans sour on homeownership: just one in five says they could easily buy a home

Daily Mail

Only one in five Americans say they would be able to buy a home in the coming years without much difficulty — the latest sign of a turbulent property market, high mortgage rates and fears of economic malaise. ‘But high prices driven by a persistent lack of supply have a large share of would-be homeowners doubtful of their ability to …

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How to be financially prepared before buying your dream home? Here are 4 ways

2 years, 1 month ago

How to be financially prepared before buying your dream home? Here are 4 ways

Live Mint

Imagine losing a chunk of your life’s savings on your dream home that you could not shift to! Name of the fund Type of fund Monthly investment Investment tenure Five-year returns Accumulated corpus HDFC Index Fund - S&P BSE Sensex Plan Index Fund 90,000 5 13.62 77,65,204 ICICI Prudential Nifty 50 Index Fund Index Fund 90,000 5 12.40 75,06,331 Kotak …

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Would You Move to Batman's Gotham City for Cheap Rent? Dark Memes are Rising

2 years, 5 months ago

Would You Move to Batman's Gotham City for Cheap Rent? Dark Memes are Rising

News 18

Skyscrapers aren’t the only things scraping the skies anymore; in the US, rental prices for a basic condo could also pull the same feat. Anyway, that is what came to Twitter’s mind, evidently, since they decided to debate if they would move to the fictional Gotham city if the rent was $300 a month for a three-bedroom. Batman when he …

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Having trouble buying a home? Four alternative ways to succeed in this market

2 years, 8 months ago

Having trouble buying a home? Four alternative ways to succeed in this market

LA Times

First-time home buyers Jorgie and Brad Zimring, along with daughter Sydney, 7, at their home in Los Angeles. “We kept asking every few years if she’d be willing to sell,” Zimring said, “and our price points just never matched.” They maintained a good relationship with their landlord, who didn’t live in Los Angeles, making repairs whenever needed and sending her …

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For most Americans, owning a home is now a distant dream

2 years, 10 months ago

For most Americans, owning a home is now a distant dream

CBS News

Home prices across the U.S. are surging, while a shortage of houses for sale has resulted in cut-throat competition for those in the market to buy a property. "Home prices remain excessively high and are impacting affordability," Rubeela Farooqi, chief U.S. economist with High Frequency Economics, said in a report. But most buyers don't have the financial wherewithal to make …

Market Property Homebuyers Cities According Buyers Sellers

Buying is more affordable than renting in these cities

2 years, 10 months ago

Buying is more affordable than renting in these cities

CNN

Across the US rent is rising so fast that in many cities buying has become more affordable than renting, even with sky-high home sale prices. The report found that the monthly cost of buying a starter home was more affordable than renting a similar-sized unit in more than half of the 50 biggest US cities. Where it’s better to buy …

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Rising rents taking up growing share of Americans’ income

3 years, 1 month ago

Rising rents taking up growing share of Americans’ income

Associated Press

LOS ANGELES — Sharp rent increases in many parts of the country are eating up a bigger share of Americans’ monthly income, squeezing tenants already grappling with rising prices for gasoline, food and other necessities. Households with a median U.S. rent of $1,179 in August tapped 30.3% of their monthly income to pay their rent, up from 29.4% a year …

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Buying a home can feel impossible. Here are alternative ways to get into the housing market

3 years, 3 months ago

Buying a home can feel impossible. Here are alternative ways to get into the housing market

ABC

Hands up if you're sick of being locked out of the housing market right now. "If I didn't have that house and I was moving back to still be renting in Melbourne, I think things would feel pretty dire," she says. "It's a single, very expensive asset that is not liquid, it can take a long time to sell, and …

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In a hot market, companies compete with would-be homeowners

3 years, 3 months ago

In a hot market, companies compete with would-be homeowners

LA Times

A sign advertises town houses under construction in Northbrook, Ill. Soaring home prices and rents are fueling real estate companies’ appetite for houses, adding unwelcome competition for many would-be home buyers. The S&P CoreLogic Case-Shiller 20-city home price index climbed a record 19.1% in June from a year earlier, as too few homes were available to buy and low interest …

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Black Americans And The Racist Architecture Of Homeownership

3 years, 7 months ago

Black Americans And The Racist Architecture Of Homeownership

NPR

Black Americans And The Racist Architecture Of Homeownership This story is part of an NPR series, We Hold These Truths, on American democracy. toggle caption Nevil Jackson for NPR Amina Hassan, who has written a biography about Miller, says the win was monumental because "housing was the crux of it all." toggle caption Nevil Jackson for NPR What they did …

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Found your California dream home? Good luck with that — it may be gone by tomorrow

3 years, 8 months ago

Found your California dream home? Good luck with that — it may be gone by tomorrow

LA Times

Real estate agent Derek Oie, left, shows a North Tustin home to clients Sarah and Vik Szemerei during a 30-minute tour slot on Saturday. Oie, the Chino Hills real estate agent representing the Szemereis, said such listing websites were shortening market time before the pandemic, allowing buyers to come to a viewing much more prepared and ready to bid. One …

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More Americans sign contracts to buy homes in August

4 years, 2 months ago

More Americans sign contracts to buy homes in August

Associated Press

— More Americans signed contracts to buy homes in August, suggesting the hot U.S. housing market will continue to churn well into fall. It had sunk to a low of 69 in April, when buyers and sellers were sidelined as the coronavirus swept through the U.S. Contract signings are a barometer of finalized purchases over the next two months, so …

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International vacation homes? Only in US travelers’ dreams

4 years, 5 months ago

International vacation homes? Only in US travelers’ dreams

CNN

CNN — Four months into a virtual worldwide lockdown for US travelers, reaching a vacation home abroad is either impossible or too risky to even consider – leaving these homeowners challenged and their homes largely abandoned. “I do not believe there is a buyer’s market for second home real estate in these countries,” Sullivan says. “I am being told by …

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