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☆ Ryan Dezember — Reporter at The Wall Street Journal
▼ + stars: | 2023-08-17 | by ( Ryan Dezember | ) www.wsj.com time to read: +1 min

Ryan DezemberRyan Dezember is based in New York and writes about commodities, including oil, natural gas, cotton, lumber and grains, as well as real assets, such as timberland, energy infrastructure and rental houses. Before that, he was based in the Journal’s Houston bureau, where he reported on the oil-and-gas industry in the aftermath of the Deepwater Horizon oil spill and amid the shale-drilling boom. Prior to joining The Wall Street Journal in 2010, Ryan was a reporter for the Mobile Register, south Alabama’s daily newspaper. There he wrote about politics, crime, hurricanes, environmental issues and the housing boom and subsequent bust along Alabama’s beaches. He is a graduate of Kent State University and the author of “Underwater: How Our American Dream of Homeownership Became a Nightmare,” winner of the Bruss Real Estate Book Award.

Persons: Ryan Dezember Ryan Dezember, Ryan Organizations: Wall Street, Mobile Register, Kent State University Locations: New York, Journal’s Houston

☆ The Golden Girls approach: Buying homes together amid high prices
▼ + stars: | 2023-08-17 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

Combined, those two factors can make it very challenging to break into the housing market. Currently, it represents about 3% of the housing market, although that rises to 5% among first-time buyers, according to NAR. Imagining a 20% down payment, for instance, may cause potential buyers to throw up their hands in despair. So there is wiggle room, and you might be more equipped to buy on your own than you think.”Nonetheless, the harsh realities of the housing market may dictate more co-buying in future. With high prices and high interest rates, some potential buyers may not have much of a choice – and this relative rarity in the real estate world may soon become more common.

Persons: Dorothy, Blanche, Rose, Sophia, “, I’m, ”, Jacob Channel, Gus Gibbs, Gibbs, Jessica Lautz, Howard Pressman, Lauren Young, Aurora Ellis Organizations: LendingTree, National Association of Realtors, Federal Reserve, NAR, “, Housing Administration, Thomson Locations: Boise , Idaho, Vienna , Virginia

Mortgage rates and home prices have spiked over the past couple of years, making homebuying more expensive than ever. High mortgage rates coupled with high home prices have made buying a house significantly more expensive than it's been in previous years. 5 advantages of buying a house when mortgage rates are highThere's no perfect time to buy a house. But mortgage rates are expected to drop throughout the next couple of years. According to the Mortgage Bankers Association's latest forecast, mortgage rates could drop below 5% by the end of 2024.

Persons: Freddie Mac, they're, Sarah Alvarez, You'll, Melissa Cohn, they've, Cohn, Alvarez, it's Organizations: Service, Privacy, Finance, Gallup, Census Bureau, Department of Housing, Urban, William, Mortgage Locations: Wall, Silicon

Consumers Credit Union Frequently Asked QuestionsHow long does Consumers Credit Union take to approve a loan? Consumers Credit Union TrustworthinessConsumers Credit Union is a Better Business Bureau-accredited business that has an A+ grade. Consumers Credit Union CompetitorsHow Consumers Credit Union compares Consumers Credit Union Auto LoanPenFed Auto LoanNavy Federal Auto Loans Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Borrowers who pay a one-time $5 membership fee to the Consumers Cooperative Association qualify for membership with Consumers Credit Union. Navy Federal's minimum rates are more competitive than Consumers Credit Union, but you'll need an excellent credit score to qualify for them.

Persons: You'll, hasn't, Ryan Wangman Organizations: Consumers Credit Union Auto Loan, Consumers Credit, Credit Union, Consumers Credit Union, Consumers Credit Union Auto, Consumers Cooperative Association, Consumers Cooperative Association ., Auto Loan, Auto, Social, Chevron, Consumers, Union, Auto Loan Navy Federal Auto Loans, . Navy, Navy, Department of Defense, Finance, Northwestern University, Boston Globe Locations: Chicago

My friends and I aren't sure how the climate crisis will affect our retirement, only that it will. Another friend replied, "Well, the good thing about climate change is that it gives me a reason to move." The climate crisis will also affect homeowner's insurance. It's hard to know where to retireAs for where to settle down in my retirement, the climate crisis throws in another wrench. While a lot remains unknown about the effects of climate change, I've resolved to stick to a retirement savings plan.

Persons: that's, it's, It's, haven't Organizations: Service Locations: Wall, Silicon, West Coast, Pacific Northwest , Utah, Florida, Nashville , Tennessee, California, Southern California, Arizona

☆ Tourists lost their summer vacations. Maui’s locals lost everything
▼ + stars: | 2023-08-15 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +8 min

In an aerial view, homes and businesses are seen that were destroyed by a wildfire on August 11, 2023 in Lahaina, Hawaii. In an aerial view, homes and businesses are seen that were destroyed by a wildfire on August 11, 2023 in Lahaina, Hawaii. CNN Business Writer Catherine Thorbecke (center) with her late grandparents in Lahaina, Hawaii, circa 2013. People looking down to downtown Lahaina from Lahaina Bypass in Lahaina, Hawaii on August 13, 2023. A woman digs through rubble of a home destroyed by a wildfire on Friday, Aug. 11, 2023, in Lahaina, Hawaii.

Persons: Rick Avila, ”, –, ” Avila, Avila, Justin Sullivan, Mike Cicchino, “, Cicchino, Catherine Thorbecke, Josh Green’s, Mengshin Lin, ALICE, Rick Bowmer, it’s, ” Gionson, “ It’s Organizations: CNN, Lahaina, ”, Washington Post, “, Aloha United Way, Bank of Hawaii, Hawaii’s Department of Commerce, Consumer Affairs, Hawaii Tourism Authority Locations: Lahaina , Hawaii, Lahaina, Maui, Kingdom of Hawaii, Okinawa, Japan, Hawaii, Maui County, Las Vegas, Oahu, –

This change in location brought about a change in how I viewed homeownership from "necessary" to "not right now." Before purchasing a home, ask yourself if you are ready and can handle the ups and down of homeownership. At the time, I was living in Washington, D.C. and there, the focus was definitely on buying a home. Moving into an apartment in New York where I don't have to lift a finger has changed my perspective on that part of owning a home. I feel better prepared for next time and when I do buy again — and I will — I know I'll be ready.

Persons: I'd, Will homeownership Organizations: Service Locations: New York, Wall, Silicon, Washington ,, Charleston, New York City

☆ Two young tech workers share why they relocated to Arkansas from Texas and California
▼ + stars: | 2023-08-14 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +8 min

They stayed in Bentonville, Arkansas, for three days and stopped in Fayetteville — about 330 miles from Dallas — for coffee on the way back. Northwest Arkansas, which consists of Benton, Madison, and Washington counties, has become the country's 100th-largest metro area. Northwest Arkansas' plan to bring in new talentCompanies like Walmart, Tyson Foods, and JB Hunt are headquartered in Northwest Arkansas and have been attracting movers for years. The Northwest Arkansas Council tried luring remote tech talent with $10,000 and a mountain bike. Do you work in tech and recently move to Northwest Arkansas?

Persons: relocaters, Nicholas Falldine, Falldine, JB Hunt, John Mayer, Nelson Peacock, Peacock, Chris Thompson, Thompson, he's, Walton's, Keith Myers, jumpstart, —, Fayetteville's, Jordan Pandy Organizations: Service, University of Arkansas, NWA, —, Companies, Walmart, Tyson Foods, Better, Gardens, Northwest Arkansas Council, The Northwest, Kansas City Star, Austin, Census Bureau Locations: Northwest Arkansas, Wall, Silicon, Dallas, Bentonville , Arkansas, Fayetteville —, Benton , Madison, Washington, Austin, Arkansas, Fayetteville, Silicon Valley, Falldine . Northwest Arkansas, Bentonville, The, The Northwest Arkansas, Los Angeles, Philadelphia, homeownership, Tulsa , Oklahoma, Marina Del, Fayetteville Falldine

☆ Looking to buy a starter home? They're more expensive than ever.
▼ + stars: | 2023-08-13 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +2 min

In June, the median sale price for the typical starter home reached an all-time high of $243,000. The income needed to purchase a typical starter home has increased 13% from 2022, to $64,500. That's because starter homes are disappearing from the market as homeowners with low, locked-in monthly payments refrain from listing their homes for sale, and homebuilders focus on more lucrative projects. It means the few that are making their way to the market are priced way higher than they once were. Here's the state of starter homes right now.

Persons: Gen Zers Organizations: Service Locations: Wall, Silicon

My mortgage broker demystified the homebuying process and guided me step by step. Here's how my mortgage broker and I worked out a plan to make my dreams of homeownership a reality and how I'm preparing for mortgage renewal in the not-too-distant future. See Insider's picks for the best mortgage lenders »My mortgage broker ran the numbers for different scenariosI spoke with a few mortgage brokers before deciding to work with the brilliant Lisa Okun. Compare today's 30-year mortgage rates »I know renegotiating my mortgage will be complexI like to know how much I'm going to need to spend. Because the interest rates in Canada were so low at the time (around 2.5%), I felt good about locking into that rate.

Persons: Lisa Okun, Lisa, They've Organizations: Service Locations: Wall, Silicon, Ontario, Canada

Our experts answer readers' student loan questions and write unbiased product reviews (here's how we assess student loans). Melissa Jean-Baptiste graduated with $50,000 in student loan debt that ballooned to over $100,000. After graduating in 2010, Jean-Baptiste was in more than $50,000 of student loan debt. Despite making every single payment on her loans without fail, over time and with varying interest rates, she saw her student loan debt balloon to over $100,000. Here are the steps Jean-Baptiste took to pay off over $100,000 in student loan debt in six years:1.

Persons: Melissa Jean, Baptiste, Jean, Baptiste wasn't, Jean Baptiste, It's Organizations: Service, Citibank Locations: Wall, Silicon

☆ These 16 cities offer the cheapest first year of homeownership in the US when considering down payments, taxes, and closing costs, according to Point2
▼ + stars: | 2023-08-10 | by ( William Edwards | ) www.businessinsider.com time to read: +2 min

But according to Point2, 16 cities including Detroit offer first-year homeownership costs under $80K. First-year costs include down payments, mortgage payments, taxes, insurance, and closing costs. In a recent analysis of the 100 largest US markets, the firm identified the 16 cities with the cheapest first year of homeownership after considering the average cost of a 20% down payment, closing costs, property taxes, monthly mortgage payments, and homeowners' insurance. In all 16 of the cities, the first year's cost of homeownership was under $80,000. We've listed the cities below starting with the least expensive, and have included Point2's price breakdown of each item noted above.

Persons: It's, homebuying —, Point2 Organizations: National Association of Realtors, homebuying Locations: Point2, Detroit

☆ Why I Bring Up Climate Change on First Dates - The New York Times
▼ + stars: | 2023-08-09 | by ( Erica Berry | ) www.nytimes.com time to read: +2 min

When I brought up global warming, he’d often try to comfort me: to wrap me in a hug, cue up an old episode of “Seinfeld,” offer a CBD gummy. I struggled to tell him that I didn’t need anesthesia or answers, I just wanted a relationship where we shared more of the same inquiries. If relationships depend on a shared fantasy of the future, then global warming does more than unsettle our environment — it creates uncertainty in our interpersonal ones. This time, I’m swallowing my fear of sounding too anxious and am talking about climate change early on. But I’ve found that talking about how global warming affects our lives, however casually, becomes a sort of canary in the coal mine for learning about a person’s broader beliefs and behaviors.

Persons: he’d, “ Seinfeld, ”, ” Kathryn Schulz, wasn’t, we’d, don’t, I’ve Locations: Idaho, Venice

☆ Millennials powered America’s homeownership boom
▼ + stars: | 2023-08-08 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

Rather, the homeownership rate measures the percentage of all occupied housing owned by the occupants, as opposed to occupied by renters. By 2022, the US homeownership rate was 65.8%, up from 64.6% in 2019. Homeownership rates dipped as low as 63.4% following the foreclosure crisis that began in 2004 and the Great Recession that began in 2008. Homeownership rates have recovered just half of the 5.6% drop in homeownership between 2004 and 2016. Between 2016 and 2019, the homeownership rate increased for buyers under 55, according to the Census Bureau.

Persons: Yue, Chris Parsons, —, ”, Yue Parsons, — Parsons, Parsons, We’re, Jessica Lautz Organizations: Washington CNN, Census, National Association of Realtors, NAR Locations: New York City, Manhattan, United States, homebuying, San Francisco, New York, Austin , Texas, Miami, Phoenix, homeownership

☆ A millennial who bought a house by 30 says it was one of the hardest things she's done — and that renting is never a waste of time
▼ + stars: | 2023-08-08 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +4 min

Author Melissa Jean-Baptiste might own a home, but she still sees value in renting. Take a look at lifestyle and affordability to make sure that homeownership is right for you. Jean-Baptiste goes on to say, "Thinking that renting is throwing money away is a money myth that needs to go away. Here are a few reasons why renting could be the better option for you and your wallet right now:1. Whether you rent until you are financially ready to buy or you just prefer to rent right now (like me), know that you are not wasting your time or money.

Persons: Melissa Jean, Baptiste, isn't, Jean, Realtor.com, Homeownership isn't Organizations: Service Locations: Wall, Silicon

I had been saving to buy a house, but prices in Southern California have made that unlikely. I decided to stop focusing on trying to buy a house, which means I can put more toward retirement. I'm okay knowing I might be renting for life, as it means I can streamline my finances. Instead of using my HSA contributions toward health-related expenses, I'm investing my HSA funds. Now that I've nulled out savings to buy a home, my financial goals feel more streamlined.

Persons: I've, homeownership, Roth, it's, There's Organizations: Service, realtors Locations: Southern California, Wall, Silicon, Los Angeles

☆ Why it's so hard to build homes in your neighborhood
▼ + stars: | 2023-08-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +12 min

Single-family homes in Arlington, Massachusetts. Around 75% of residential land in the United States is zoned for single-family homes only. This has had the effect of encouraging ever-larger single-family homes and limiting housing options, like smaller houses. “You can’t just do it all with zoning reform,” Walla Walla City Manager Elizabeth Chamberlain told CNN. The second wave of single-family zoning laws spread during the 1970s, historians say, and the policies became more restrictive.

Persons: Suzanne Kreiter, ”, Jenny Schuetz, “, —, Ben McCanna, Joe Biden’s, Richard Kahlenberg, Kathy Hochul’s, Elizabeth Chamberlain, “ It’s, Nancy Kaye, William Fischel, Fischel, Carlos Avila Gonzalez, Yonah Freemark, we’re, ” Freemark Organizations: New, New York CNN, Boston Globe, Brookings Metro, Republicans, Portland Press Herald, Getty Images, ”, CNN, Homes, “, Dartmouth University, Homeowners, San Francisco Chronicle, AP, Pew Charitable Locations: New York, Arlington , Massachusetts, United States, “, Maine, Getty Images Minneapolis, Arlington , Gainesville, Charlotte, Walla Walla , Washington, Oregon , California, Washington , Montana, Connecticut , Arizona, ” Walla Walla City, Cities, Louisville , Kentucky, Flushing , Queens, America, San Francisco, Los Angeles , New York City, Seattle, Chicago , Philadelphia, Portland, Washington, Walnut Creek , California, Minneapolis, Portland , New Rochelle , New York, , Virginia, Towns, Walla, Walla Walla

☆ Japan has millions of cheap abandoned homes. Here's what to know before you buy one.
▼ + stars: | 2023-08-04 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +5 min

With the population in Japan shrinking and Japanese buyers vastly preferring new over used homes, older homes are often abandoned when owners die or younger generations refuse to inherit them. The Japanese government estimated in 2018 that there were nearly 8.5 million abandoned homes in the country. Jaya Thursfield and his wife, Chihiro, moved from London to Japan after buying an abandoned Japanese farmhouse in Ibaraki, a Japanese prefecture about an hour's drive northeast from Tokyo. With many Japanese buyers preferring newly built houses, some homes are demolished after only 20-30 years. And while houses in the US typically appreciate in value, houses in Japan tend to gradually depreciate in value over time.

Persons: Jaya Thursfield, Chihiro, Richard Koo, Koo, Bethany Nakamura, Nakamura, it's Organizations: Service, Privacy, Japan, Japan's Ministry of Land, Transport, Tourism, YouTube, Law, Nomura Research Institute Locations: Wall, Silicon, Japan, Infrastructure, London, Ibaraki, Tokyo, Jaya, America

☆ Are You Ready to Buy a Home? Should You Rent? Take Our Quiz.
▼ + stars: | 2023-08-04 | by ( Debra Kamin | ) www.nytimes.com time to read: +7 min

Before you even start looking, ask yourself a crucial question: Should I rent, or should I buy? A financial gut check First and foremost, the decision to rent or buy will depend on your financial situation. Unless you’re independently wealthy and ready to purchase a home with cash (if you are, why are you reading this article? The decision to buy a home isn’t only about finances, and owning isn’t right for everyone who can afford it. If the answer is exactly where you are, it might be a sign that you’re ready to buy.

Persons: Mark Conlan, Read, you’re, Don’t, you’ll, Sellers, it’s, I’ll Locations: Youngstown , Ohio, Manhattan

For the second week in a row, average 30-year mortgage rates have jumped — they are now at 6.90%, according to Freddie Mac. Average 15-year mortgage rates also increased to 6.25%. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, Fannie Mae Organizations: Federal Reserve, Mortgage, Zillow, Association, Sky Locations: Chevron

How much do you need for a down payment on a house? On a $200,000 home, a 3% down payment means you'll need $6,000. FHA mortgage: 3.5%To get an FHA mortgage, you'll need at least a 3.5% down payment. It depends on what type of loan you're getting, but you may need between $9,000 and $60,000 for a down payment on a $300,000 house. A 20% down payment on a house allows you to avoid paying for private mortgage insurance, meaning you'll have a lower monthly mortgage payment and likely a lower mortgage rate as well.

Persons: you'll, Fannie Mae, Freddie Mac, you've Organizations: Service, Phoenix, Fort, Oklahoma, PMI, National Association of Realtors Locations: Oklahoma City, San Jose , California, Wall, Silicon, Government, York City, NY, Angeles, LA, Chicago, Houston, AZ, Philadelphia, Antonio, Diego, Dallas, Austin, Jacksonville, Fort Worth , TX, Jose, Columbus, Charlotte, NC, Indianapolis, Seattle, WA, Francisco, Denver, homeownership, Chevron

☆ Morgan Stanley: These are the 5 key themes shaping the housing market for years to come, and the 5 stock-market industries filled with opportunities and pitfalls investors need to watch for
▼ + stars: | 2023-08-02 | by ( Mark Reeth | ) www.businessinsider.com time to read: +8 min

Morgan Stanley economists see a stronger housing market cycle and interest rates being cut in 2024. Luckily, Morgan Stanley strategists think the housing market is finally reaching a turning point. That will mark the end of the current craziness and the beginning of a new housing market cycle. As for the US industries and stocks connected to the housing market, Wilson noted that tomorrow's market will bring about different winners and losers. Higher interest rates mean higher mortgage rates, and higher mortgage rates mean lower demand for mortgages.

Persons: Morgan Stanley, Mike Wilson, Wilson, homebuyers, there's, isn't, Morgan Stanley Wilson Organizations: Housing Locations: homeownership, rentership

☆ I moved to an abandoned house in Japan's countryside. I learned that homeownership in Japan is not the same ticket towards long-term stability as it is in the US.
▼ + stars: | 2023-08-01 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +9 min

In 2022 she acquired a free abandoned house on Shikoku, the smallest of Japan's four main islands. She doesn't think it's smart for foreigners to jump into homeownership in the Japanese countryside. I had made assumptions after watching HGTV-inspired YouTube videos about abandoned houses in Japan, but it's not necessarily realistic. I personally don't think that it's a good idea for foreign people to jump into homeownership in the Japanese countryside right away. For someone like me who's only lived in large cities in America, to go to the Japanese countryside is an even bigger cultural shift.

Persons: Bethany, Bitsii, Nakamura, I'm, Maigo Mika, Bethany Nakamura, Banks, would've, It's, there's, homeownership, it's Organizations: Service, HGTV Locations: Japan, Shikoku, Wall, Silicon, America, New York

☆ 1 in 4 U.S. homebuyers want to move to a different city—here's the No. 1 place they're looking
▼ + stars: | 2023-07-30 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

Homeownership costs seem to be driving the trend, as the majority of homebuyers are from cities with some of the highest home prices in the country, such as New York or Los Angeles. Net inflow is the number of people looking to move into a city minus the number of people looking to leave. This makes sense, as those are some of the cities where the most homebuyers seemingly want to leave. For instance, most out-of-town buyers looking for properties in Las Vegas are from Los Angeles. The median cost of a home in Las Vegas is $412,500 as of June, nearly half the $975,000 median cost for homes in Los Angeles, according to Redfin's data.

Persons: Redfin, they've Organizations: Las Vegas, Port Locations: South, New York, Los Angeles, Las Vegas, Tampa , Florida, Orlando, Florida, Sacramento , California, Sarasota , Florida, Coral , Florida, Dallas, Miami, Houston, Seattle , New York, Chicago, San Francisco, York City, Angeles, Washington, Boston, Seattle, Hartford , Connecticut, Denver, Detroit

☆ Americans flocked to Florida for low taxes and sunshine, but an under-the-radar cost of homeownership keeps rising: insurance
▼ + stars: | 2023-07-29 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +7 min

Florida homeowners are dealing with rapidly increasing homeowners insurance rates. Due to inflation and severe weather, Florida insurance rates are expected to increase by 40% in 2023. The Insurance Information Institute projects that property insurance rates in Florida will increase by at least 40% in 2023. Increase your insurance deductibleIncreasing your homeowners insurance deductible generally will lower your insurance premiums. Were you in the military, or a member of an alumni association or employment association that offers insurance discounts?

Persons: Mark Friedlander, Friedlander, it's, Rick Sinkfield, Sinkfield, Ian, Freidlander, Floridians Organizations: Service, Insurance Information Institute, Communications, Insurance, United Property, UPC, Hurricane Ian, Florida Legislature Locations: Florida, Wall, Silicon, New York, New Jersey

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