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Search resuls for: "Housing Opportunity"


4 mentions found


☆ I bought an abandoned house and tried to renovate it but failed. I'll never buy another fixer-upper.
  + stars: | 2024-05-09 | by ( Karie Fugett | ) www.businessinsider.com   time to read: +7 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The kitchen and bathroom were gutted, and the smell of rats' nests was so strong I could hardly stand it. The property was located in a town I'd never heard of with fewer than 1,000 residentsThe abandoned home. I had been sitting on some life insurance money I'd gotten after my Marine husband died of war wound complications. I got lucky with the saleThe silver lining was that housing prices had skyrocketed since I'd purchased the property.
Persons: —, Ivy, I'd, couldn't, Karie, Blackberries, Fugett, we'd, I, we're, We're Organizations: Service, Business Locations: Oregon, Philomath, Eugene, Alabama
☆ NYC rolls out plan to convert empty office buildings into 20,000 homes as remote working persists
  + stars: | 2023-08-22 | by ( Sawdah Bhaimiya | ) www.businessinsider.com   time to read: +4 min
NYC Mayor Eric Adams outlined a proposal to convert office buildings into affordable homes. Adams said the goal is to create as many as 20,000 homes to help solve the city's housing crisis. "It makes no sense to allow office buildings to sit empty while New Yorkers struggle to find housing. Empty office buildings are an issue across US cities including San Francisco and Chicago. A recent study by the National Bureau of Economic Research found that over 2,000 US office buildings could be transformed into as many as 400,000 apartment units.
Persons: Eric Adams, Adams, Dan Garodnick, Maria Torres, Meta Organizations: Service, New York's Department of City, Housing Opportunity, New York City Department of Buildings, of Standard, Appeals, Springer, Colliers, New York Times, National Bureau of Economic Research Locations: Wall, Silicon, York City, Manhattan, New York, San Francisco, Hudson Yards, Chicago
☆ Goldman Sachs says home prices are dropping rapidly in some US cities. Here are the top 20 cities ranked, along with median prices and affordability ratings for each.
  + stars: | 2023-04-12 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +3 min
Below is a list of 20 cities with the slowest home-price growth from the highest to lowest rates. Credit strategists at Goldman Sachs expect a more muted impact on residential lending relative to other types like business and commercial. "In our view, metro-level home prices will be more instructive than national prices when monitoring mortgage credit stress," Karoui said in a recent client note. To be sure, the housing market is more resilient to tighter standards now compared to 2008, when subprime mortgages caused the crisis. That very experience led to stricter scrutiny of lending requirements, causing the housing market to be better prepared to deal with challenging economic environments.
☆ Multigenerational Hispanic households are under pressure as rates surge and homes remain costly
  + stars: | 2022-10-19 | by ( Darla Mercado | Cfp | ) www.cnbc.com   time to read: +5 min
Mortgage rates have also surged as the Federal Reserve tightens monetary policy to curb inflationary pressures not seen in about 40 years. Roughly a quarter of Asian, Black and Hispanic Americans each lived in multigenerational households in 2021, compared to 13% of those who are white. "Latinos are more likely to live in multigenerational households," said Gary Acosta, co-founder and CEO of the National Association of Hispanic Real Estate Professionals. "But being a larger multigenerational family comes with complications if you're trying to be a homeowner," he said. For the Espinoza family, the ideal home would have at least three bedrooms, a backyard and proximity to employment and schools in Santa Ana.
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