100+ Not So Great Places to Buy a Home
Below is an extensive and exhaustive (and silly but somewhat serious) list of places where it might not make the best sense to buy a… Read More »100+ Not So Great Places to Buy a Home
Housing Market
Commentary on the latest housing market news, with a focus on home prices, buying and selling conditions, and if another housing crash is right around the corner.
Hint: It probably isn’t for a while, at least with regard to home prices. Though you could argue there’s a major affordability crisis at the moment.
In short, a lack of for-sale supply continues to plague the housing market.
This absence of inventory has resulted in record high home prices, despite a surge in mortgage rates from the 2-3% range to 7% and higher.
And it’s probably hurting first-time home buyers the most, whether it’s an affordability issue or the inability to find a property.
At the same time, home sellers remain in a good spot due to this lack of supply and still relatively strong demand.
The problem for them might be finding a suitable replacement property.
Home Prices vs. Gas Prices
With mortgage rates hitting 2015 highs last week, one might worry that the housing recovery will lose steam. The 30-year fixed climbed to 4.08% per… Read More »Home Prices vs. Gas Prices
Harvard: Renting Is the New Buying, But It’s Unaffordable
The Joint Center for Housing Studies of Harvard University released the 2015 edition of The State of the Nation’s Housing report this week and it… Read More »Harvard: Renting Is the New Buying, But It’s Unaffordable
Realtor and Airbnb Team Up to Let People Try Before They Buy
Consider this common scenario. You really like a house and decide to make an offer. After winning a bidding war and perhaps paying a little… Read More »Realtor and Airbnb Team Up to Let People Try Before They Buy
Owning a Home Costs Nearly $10,000 a Year Not Including the Mortgage
A lot of folks I know who rent are still hot on the idea of homeownership, but it’s important not to overlook all the costs… Read More »Owning a Home Costs Nearly $10,000 a Year Not Including the Mortgage
You Can Buy a Nice House in Houston for $1
A family living in Sunset Heights, close to the center of Houston, Texas, is parting with their home for just $1. But in order to… Read More »You Can Buy a Nice House in Houston for $1
Detroit Home Buyers Offered Zero Down Mortgages Up to 150% LTV
While this might sound like another exotic mortgage gone wrong, it’s actually a new program geared toward making the city of Detroit better, not worse.… Read More »Detroit Home Buyers Offered Zero Down Mortgages Up to 150% LTV
Home Price Depreciation Leading Cause of Mortgage Default
A report released by the Boston Fed last week found that home price depreciation is a leading cause of mortgage default, challenging common arguments that… Read More »Home Price Depreciation Leading Cause of Mortgage Default