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☆ Single-family homes built for the rental market jumped 35% to an all-time high last year
▼ + stars: | 2023-06-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Single-family homes built for the rental market reached a record high in 2022, the National Association of Realtors said. BFR starts also accounted for an 8% share of housing starts, another new record. Such built-for-rent (BFR) housing starts jumped 35% to 81,000 units in 2022, NAR said, citing data from the Census Bureau. Meanwhile, their share of overall housing starts rose to 8% last year from 5% in 2021. Growth in this emerging sector of the housing market comes as the inventory of existing homes remains tight, leaving prospective buyers to look to new homes.

Persons: BFR, —, Jessica Lautz, BFR's, Lautz Organizations: National Association of Realtors, Service, NAR, Midwest

☆ Here’s how the resilient housing market benefits our home improvement and construction stocks
▼ + stars: | 2023-06-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

There are new signs of a resilient housing market and a home renovation rebirth with potentially bullish implications for three of our Club names. Shares of Stanley Black & Decker (SWK) and Caterpillar (CAT), whose tools and machinery are used in homebuilding, have been on the upswing in recent weeks. "There are a lot of projects that go on top of residential construction that require mining materials, which Caterpillar is a big player in." Discounter retailer TJX should also reap the benefits of a resilient housing market as new and existing homeowners seek to furnish their homes with high-quality branded goods at a discount. (Jim Cramer's Charitable Trust is long SWK, CAT, TJX.

Persons: Stanley Black, Decker, Brett Linzey, Stanley, Michael Shlisky, Davidson, It's, Shlisky, Stuart Millar, Miller, Lennar, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Caterpillar, TJX, Commerce Department, Conference Board, Mizuho Securities, JPMorgan, Caterpillar's, Industries, D.A, Consumers, U.S, CNBC, Bloomberg, Getty Locations: homebuilding, North America, Lennar, TJX, Maxx, Emeryville , California

☆ Millennials aren't as rich as they were a year ago. Here's why.
▼ + stars: | 2023-06-28 | by ( Jacob Zinkula | Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

The average millennial's net worth grew from $64,000 to $111,000 between the first quarter of 2020 and 2022. But just two years later, as of the first quarter of 2022, the average millennials' net worth surged to $111,000. As of the fourth quarter of last year — the most recent measure – millennials' average net worth had fallen to roughly $106,000. And what are the key factors that could impact millennials' wealth trajectory in the years to come? According to Ricketts, millennials' net worth has "plateaued" — rather than notably declined — over the past year.

Persons: —, Millennials, Matt Schulz, Schulz, Lowell Ricketts, Louis Fed, Ricketts, millennials, Gen Organizations: Service, Federal Reserve, St, Fed Locations: millennials

☆ California Rep. Maxine Waters introduces bills to spend hundreds of billions of dollars to fight homelessness and solve the affordable housing crisis
▼ + stars: | 2023-06-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

Rep. Maxine Waters, a California Democrat, introduced a trio of bills addressing the housing crisis. They would expand housing vouchers and send $100 billion to help first-generation homebuyers. The legislation — which includes expanding housing vouchers and sending $100 billion to help first-time, first-generation homebuyers — is focused on reducing the racial wealth gap. One bill — the Housing Crisis Response Act of 2023 — includes over $150 billion in funding for affordable housing and investments in closing the racial housing gap. Overall, just one in six eligible families live in public housing, receive a rent-reducing voucher, or live in a subsidized multifamily unit, according to the US Census Bureau.

Persons: Maxine Waters, —, Waters Organizations: California Democrat, Service, Interagency, Homelessness, Census Bureau, Financial Services Locations: California

☆ People Are Using Mortgage Points to Lower Their Rates—Are They Worth It?
▼ + stars: | 2023-06-24 | by ( Michele Lerner | ) www.wsj.com time to read: +6 min

A recent analysis by Zillow Home Loans found that nearly 45% of borrowers purchased mortgage points, also known as discount points, in 2022 to reduce their monthly payments. That compares to 29% of borrowers who bought mortgage points in 2021, 28% in 2020 and 27% in 2019. “We started seeing more buyers purchasing discount points as soon as mortgage rates ticked up in 2022,” says Nicole Bachaud, senior economist for Zillow in Seattle. The combination of high home prices and high mortgage rates contributes to the current appeal of paying discount points. Cash-out refinance borrowers were also more likely than other borrowers to buy mortgage points.

Persons: Michele Lerner, “, ”, Nicole Bachaud, we’re, Chuck Cavanaugh, ” Cavanaugh, Mike Salierno, ” Salierno, Cavanaugh, ” Bachaud, Cash, Bachaud Organizations: Zillow, Citibank, Northwestern Mutual Locations: Seattle, New York City, Clearwater, Fla

☆ Why Gen Zers are looking to Europe to achieve their American dream
▼ + stars: | 2023-06-24 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

For some Gen Zers, the "American dream" is inspired by European work culture. In fact, other American Gen Zers seem obsessed with it. Whether it's entrepreneurial ventures that allow for a flexible schedule or office jobs that promote work-life balance, some American Gen Zers are adopting European sensibilities when making decisions about their career and work life. Insider spoke with several Gen Zers about the Europeanization of their dreams. Young Americans see Europe as the ideal templateTo some American Gen Zers, Torres-Kennedy's life might seem like a dream.

Persons: Zers, —, Sofi Torres, Kennedy, Torres, I'd, she's, it's, Gen Z, Young, I've, Kennedy Davina Ramkissoon, she'd, Lily Rakow, Rakow, we're Organizations: Service Locations: Europe, Bordeaux, France, Chicago, America, Paris, Ireland, North America, Annapolis , Maryland, European

☆ Opinion | Why This Economist Wants to Give Every Poor Child $50,000
▼ + stars: | 2023-06-23 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +51 min

What you’ve got to do to get more money from wealth is just let your money go out there and make money on its own. darrick hamiltonYeah, the extent to which our tax code incentivizes wealth and capital growth, it centers on existing wealth and capital growth. $50,000 to the most wealth-poor person seems like a big number, but we need to put that number in context. In other words, wealth begets more wealth, and wealth builds upon itself. ezra kleinI think that’s a great place to end, so I’ll ask our final question.

Persons: ezra klein, we’ve, We’ve, Darrick Hamilton, Biden Sanders, Bernie Sanders, Cory Booker, Ayanna Pressley, darrick hamilton, hamilton, you’re, ezra klein There’s, you’ve, that’s, Thomas Piketty’s, it’s, there’s, ezra klein I’m, —, ezra klein We’ve, Bill Gates, Elon, Ezra, Ira Katznelson, Crow, Bill, hasn’t, who’s, I’ve, they’re, ezra klein Let’s, darrick hamilton Naomi Zewde, wouldn’t, Let’s, darrick hamilton Ezra, darrick hamilton I’m, Arthur Lewis, Natalie Diaz, ” Natalie, ezra klein Darrick Hamilton Organizations: The New School, Biden, Task Force, Marshall, Black, Washington D.C, Federal Government, SEED, Oklahoma, Social, Social Security Locations: Hamilton, United States, Prosperity, America, Europe, Tulsa , Oklahoma, Connecticut, Washington, —, hamilton

☆ Barbie, Her House and the American Dream
▼ + stars: | 2023-06-23 | by ( Anna Kodé | ) www.nytimes.com time to read: +17 min

Barbie, Her House and the American Dream Take a stop-motion journey with the young, single homeowner of the Dreamhouse. Today according to Mattel, the toymaker behind the iconic doll, a new Barbie Dreamhouse is sold every two minutes. A vintage Barbie doll puts a record on, dances and sits down. He came to Barbie’s house.”Now, Ms. Dalsing lives in Saint Joseph, Mo., in what she called her own dream house. “In the early 2000s, single women were the fastest growing group of home buyers in the United States,” she said.

Persons: Ken isn’t, Barbara Millicent Roberts, Roberts —, Barbie, ” Ruth Handler, Ken, Handler’s, —, Barbie’s Dreamhouse, ”, Deborah Dinner, wasn’t, weren’t, Barbie’s, Felix Burrichter, “ Barbie Dreamhouse, ” Barbie’s, Sue Dalsing, Dalsing, “ Ken didn’t, “, ” It’s, Elliot Handler, Handler, Lisa McKnight, Mattel’s Barbie, Hugh Hefner’s, Helen Gurley Brown’s, ’, Brown’s, Brown, Young, Tiffany, Barbie —, Houseplants, Burrichter, might’ve, Maddie Bone, Bone, Homer, …, Ms, Amy Castro, ” Ms, Castro, Isabelle Roy, ‘, Roy, He’s, Barbie couldn’t, Christie, Kim Culmone, Catherine E, McKinley, Sarah Greenwood, Katie Spencer, Greenwood, Spencer, It’s Organizations: Mattel, New York Times, “, Cornell University, Survey, Wisconsin ., Furniture, The Times, Spice, University of Pennsylvania’s School of Social Locations: crave, Britain, Saint Joseph, Mo, Barbie’s, Wisconsin, Levittown, Waldoboro, United States, Canadian, Alberta, Palm Springs

☆ Harvard researchers share 7 charts that show the struggles of buying and renting a home in America today, and their recommendations for solving them
▼ + stars: | 2023-06-22 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The Harvard Joint Center for Housing Studies released their State of The Nation's Housing report. Harvard Joint Center for Housing StudiesOn top of that, mortgage rates have surged from around 3.3% in early 2022 to just under 7% today. Harvard Joint Center for Housing StudiesBlame that in part on falling building rates. Harvard Joint Center for Housing Studies"The construction slowdown in 2022 raised concerns about the nation's large and ongoing housing shortfall. To boost homeownership rates among minority groups, the researchers also proposed lowering credit score minimums for mortgages and taking into consideration other indicators of creditworthiness that aren't reflected in a credit score.

Persons: it's, homeownership Organizations: Harvard Joint Center for Housing Studies, National Association of Realtors . Harvard Joint Center for Housing, Harvard Joint Center for Housing, Harvard, Center for Housing

☆ Meet a millennial mom who paid over $22,000 for daycare last year — and had to quit her job when her second kid came along: 'We don't really have a village of any sort'
▼ + stars: | 2023-06-19 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Kaitlin Peterson is a millennial parent paying tens of thousands of dollars for day care. Like when our kid gets sick and we have to go to the urgent care at night, it's just us. Peterson has no regrets about having kids, but understands why people opt outEven with all of the challenges she faces as a millennial parent, Peterson said she finds immense joy in having children. "Anyone who tells you that like, 'Oh, you can just fit a kid into your life' — they're lying," Peterson said. Peterson believes that you can have a "totally fulfilling" life without children; for her, her life is more fulfilled with them.

Persons: Kaitlin Peterson, Peterson, —, would've, Kaitlin Peterson Gen Zers, Peterson isn't, Zers, Gen Zers, millennials, aren't, it's, " Peterson, They've, that's, It's Organizations: Service, Deloitte Locations: Denver

☆ A Texas real-estate investor created a tiny home village where sites rent for $700. Its residents get a slice of the American dream, and have formed a tight-knit community. See inside.
▼ + stars: | 2023-06-19 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

The village has 13 lots that cost renters, who bring their own tiny homes, around $700 each month. He encountered an array of tiny homes, non-mortgaged houses or cabins that are typically under 600 square feet. The waitlist for a spot in Lake Dallas Tiny Home Village is nearly a dozen long. While each resident's home is uniquely built, several were constructed by either Indigo River Tiny Homes or Decathlon Tiny Homes. The community garden at Lake Dallas Tiny Home Village.

Persons: Terry Lantrip, —, Terry Lantrip's, Lantrip, Alcynna Lloyd, Alcynna Lloyd Tiny, Alcynna Lloyd Lantrip, There's Organizations: Service, Urban, Dallas, Lake Dallas Tiny Home, The, Fort, North Texas Tiny House, Residents, National Organization of Alternative, Dallas Tiny Home Locations: Texas, Lake Dallas, Lewisville Lake, Lantrip, Dallas, The Dallas, Fort Worth, North, Lake, Chicago, Bridgeton , New Jersey, Albuquerque , New Mexico

Juneteenth became an official federal holiday two years ago, but it was an unofficial holiday for many Black people before then. We should say, "We are a nation of Indigenous peoples, enslaved peoples, and immigrants." Since President Biden signed the Juneteenth National Independence Day Act into law two years ago, Juneteenth is now a federally recognized holiday. Some schools, such as Georgetown, have gone further than acknowledgement by renaming buildings that glorify slave owners and offering full scholarships to descendants of enslaved peoples. The Juneteenth National Independence Day Act is but another step towards inclusion of all peoples who made America: "We are a nation of Native peoples, enslaved peoples, and immigrants."

Persons: Juneteenth, —, Lincoln, Biden, Charles, Willa Bruce, Klansmen, Gavin Newsom, Bruce Organizations: Service, Union, Texans, Plymouth Rock, Civil, Evanston, Colleges, Ivy League, Brown, Princeton, Harvard Locations: United States, Indigenous, Texas, Plymouth, America, Manhattan, California, Evanston In Evanston , Illinois, Christian, Evanston, Amherst , Massachusetts, Amherst, Columbia, Georgetown

☆ If you make $75,000 or less, you probably can't afford to buy a home in these 12 cities
▼ + stars: | 2023-06-15 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

For middle- and low-income families, homeownership is becoming increasingly unattainable. Households earning the U.S. median income can only afford a fraction of the homes in the 100 largest U.S. cities, according to an analysis of real estate listings by the National Association of Realtors (NAR) and Realtor.com. Even though 51% of U.S. households earn $75,000 or less, they could only afford 23% of the listings on the market in April, the study finds. In some cities, the shortage is even more acute. Here's a look at the cities with the lowest share of affordable homes, based on buyers who earn $75,000, the U.S. median household income, or less.

Organizations: U.S, National Association of Realtors Locations: U.S

☆ Homebuyers on a budget should look for a house in these 15 smaller markets where the average down payment for a starter home is $50,000 or less
▼ + stars: | 2023-06-13 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Affordable starter homes that were once ubiquitous can now be rare finds. Here are 15 towns where the average down payment on a starter home is $50,000 or less. The firm found that the share of starter homes built has fallen from about 70% in the 1940s to just 7% in the early 2020s. Unlike in previous decades, homebuyers can't count on finding affordable starter homes in so-called "secondary" cities that neighbor larger metropolitan areas. 15 towns with relatively affordable homesThough prospects for first-time homebuyers seem grim, it's worth noting that starter homes in smaller secondary cities haven't been completely picked over yet.

Persons: it's, they're, It's, Alexandra Ciuntu, Point2, homebuyers, Ciuntu, unaffordability Organizations: Boomers Locations: Point2

☆ We're a millennial couple in Singapore. It took 2 years, 17 apartment viewings, and some negotiation, but we managed to find our forever home.
▼ + stars: | 2023-06-10 | by ( Amanda Goh | ) www.businessinsider.com time to read: +5 min

After being together since 2015, Joy Oh and Eddy Kur were looking to settle down. This as-told-to essay is based on a conversation with 31-year-old Joy Oh, a digital-content producer who works in a creative agency in Singapore. Joy Oh and Eddy Kur/Ohkur HouseThat aside, we had a pretty long list of requirements for our future home. Joy Oh and Eddy Kur/Ohkur HouseAfter our down payment, we took out an HDB housing loan of SG$389,100 to finance the rest of our home. Joy Oh and Eddy Kur/Ohkur HouseWe decorated the place and signed the papers in our living room.

Persons: Joy Oh, Eddy Kur, —, Indonesia —, Eddy, Oh Organizations: Service, Board Locations: Singapore, Jakarta, Indonesia, Yishun, Khatib —

☆ I wanted to simplify my life, so I downsized my big house for a rental home and sold most of my stuff. I feel like I can breathe for the first time in years.
▼ + stars: | 2023-06-10 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +7 min

Lauren CobelloMy old house sold in a dayMy old house sold in a day for $185,000 — $16,000 above the asking price. The old house had room for plenty of sleepovers; we would host large ones for birthdays, but we can't do that in the new house. Cobello's new home (right) is about a third of the size of her old house. In the old house, my monthly expenses included $350 on property taxes, around $26 on garbage collection, and close to $66 on water. After paying off my mortgage on the old house, my proceeds from selling it will be around $55,000.

Persons: Lauren Cobello, —, I'd, Cobello, Bob Ruggio, I've, It's, I'm Organizations: Service, WEBGIO, Facebook, Walmart Locations: New York, Oswego, homeownership

☆ Middle-income buyers face the most severe housing shortage
▼ + stars: | 2023-06-08 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

These would-be buyers face the most severe housing shortage of any other income bracket, according to a new analysis from the National Association of Realtors and Realtor.com that found the market is short more than 300,000 affordable homes for these buyers. Given that income, these buyers can purchase homes valued up to $256,000 without being overburdened with housing costs. Middle-income buyers can afford to buy less than a quarter — only 23% — of listings that are currently on the market. In a balanced market, buyers earning $75,000 can afford to purchase 66% of the listings in the Youngstown metro area. However, these buyers would be able to afford to buy more than 50% of the listings in a balanced market.

Persons: ”, Nadia Evangelou, that’s, ” Evangelou, “ It’s, Toledo —, Danielle Hale, “ Organizations: DC CNN, National Association of Realtors, NAR, El, homeownership Locations: Washington, United States, homeownership, Ohio, — Youngstown , Akron, Toledo, Youngstown, El Paso , Texas, Boise , Idaho, Spokane , Washington, In Boise, Boise

☆ Homeownership is a great way to build wealth, advisor says. Here's how to make that purchase successful
▼ + stars: | 2023-06-07 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Achieving that goal now can be challenging, with home prices still elevated and higher interest rates pushing mortgage costs higher, said Elliott, who is a member of CNBC's Financial Advisor Council. You should also work on improving your credit score, which will put you in the best possible position to get a good rate on your mortgage, Elliott said. Anticipate unexpected homeownership costsOne of the benefits of buying versus renting a home is the ability to have fixed costs, Elliott said. Look for flexibility on your purchaseThough home prices and interest rates are high, there are still possible ways prospective homebuyers can cut costs. By getting a shorter-term mortgage — say, for 15 years instead of 30 years — borrowers may access lower interest rates.

Persons: Kamila Elliott, Elliott, Carline Jean, Elliot Organizations: Wealth Partners, CNBC's, Tribune, Service, Wealth Locations: Atlanta, Parkland , Florida

☆ Singapore overtakes Hong Kong as the most expensive Asia-Pacific city for private homes
▼ + stars: | 2023-06-01 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +5 min

Tobiasjo | E+ | Getty ImagesSingapore's private homes are now the most expensive in Asia-Pacific, having overtaken Hong Kong, according to a new report. Private rental homes in Singapore also had the highest monthly rent in the region at $2,600 — "far exceeding" other cities such as Sydney, Melbourne and Hong Kong, according to the report. Hong Kong vs. SingaporeHome prices in Hong Kong "dropped substantially" in 2022, ULI said, citing the significant increase in mortgage interest rates as Hong Kong keeps pace with the U.S. Federal Reserve. Rental pricesSingapore's private rental homes have the highest monthly rent in the region, having increased by nearly 30% in 2022. Home attainabilityDespite Singapore's private homes being the most expensive in the region, the city state also has the highest homeownership rate at 89.3%.

Persons: ULI, Hong, Kong's, David Faulkner, homeownership, Ho Organizations: Yacht, Urban Land Institute, ULI, Asia Pacific Centre for Housing, Singapore, U.S . Federal, Hong Kong, Sydney, Melbourne, Urban Land Institute Asia Pacific Centre, Housing, Hong, Housing Private, CNBC, Housing Development Board, Board Locations: Singapore, Keppel, Asia, Pacific, Hong Kong, Sydney, Melbourne, U.S, Shenzhen, Beijing, Brisbane, Covid, Australia, China, Ho Chi Minh, Vietnam, Da Nang

Compare Third Federal Savings and Loan to Other Mortgage LendersThird Federal Savings and Loan vs. Carrington Mortgage ServicesCarrington Mortgage Services Types of mortgages Conforming, Smart Rate Adjustable Mortgage, jumbo, bridge loan, HELOC, home equity loan Types of mortgages Conforming, jumbo, FHA, USDA, VA, Carrington Flexible Advantage Standout feature Low Cost Mortgages Standout feature Carrington Flexible Advantage mortgage Compare rates Compare RatesCarrington Mortgage Services is our "best overall' lender for borrowers with low credit scores. How Third Federal Savings and Loan Mortgages WorkThird Federal Savings and Loan offers mortgages in California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, Virginia, Washington, and Washington, DC. Is Third Federal Savings and Loan Mortgage Trustworthy? Third Federal Savings and Loan Mortgage FAQIs Third Federal Savings and Loan a safe bank? Yes, Third Federal Savings and Loan is a safe bank to get a mortgage from.

Persons: HELOC, Carrington, you'll, It's, Marc Stefanski, Grace, Molly Grace, Molly, mgrace, Read Organizations: Federal Savings, PMI, Loan, DC, Loan Mortgage, Cost Mortgage, Third Federal, Mortgage, Carrington Mortgage, FHA, USDA, Carrington, Mortgage Services, Guild Mortgage, Third Federal Savings, ARM, Federal, Better, BBB, preapproval, Financial Corporation, Finance, Insider, Rocket Companies Locations: Washington, Ohio, Florida, California , Colorado , Connecticut, Georgia , Illinois , Indiana , Kentucky, Maryland , Massachusetts , Missouri , New Hampshire , New Jersey , New York, North Carolina , Ohio , Oregon , Pennsylvania, Tennessee, Virginia, DC, VA, New York, Chevron

☆ The 10 best cities to become a homeowner, where houses are affordable relative to incomes and property values tend to go up
▼ + stars: | 2023-05-31 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

LendingTree identified the best and worst places for homeownership in the US. North Carolina, Tennessee, and Georgia metros top the best places to become a homeowner, it found. Read on for the top 10 cities and what it takes to live in those places. Mortgage marketplace LendingTree has just identified which large metros across the country are the best and worst places to purchase a home. The company analyzed data from the Census Bureau on homeownership rates, home value appreciation, household income, and more.

Persons: LendingTree, —, Jacob Channel Organizations: homeownership, Georgia metros, Service, West, Buyers, metros Locations: North Carolina , Tennessee, Georgia, Austin , Texas, Boise , Idaho, Phoenix, homeownership, Raleigh , North Carolina, Nashville , Tennessee, Jacksonville , Florida, Atlanta, East, West

While buying a house can set you up for financial success, renting comes with its own benefits, like flexibility. If you can't afford a down payment or monthly payments, you may want to continue renting for now. Homeownership also costs more than just the monthly mortgage payment. This includes your mortgage, property taxes, mortgage insurance, homeowners insurance, and HOA fees, but not costs like utility bills. If monthly mortgage payments would be a financial strain, it could be better to keep renting for now.

☆ Homebuyers might be able purchase a home with less savings — thanks to the two largest US mortgage lenders now allowing down payments of just 1%
▼ + stars: | 2023-05-26 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

In a stark contrast to the homebuying bonanza of 2021, housing demand has fallen sharply with buyers grappling with a year of higher mortgage rates and stubbornly high home prices. "I was able to win them over with 1% down payment assistance, as well as give them a better rate." "These 1% down payment assistance programs are really making homeownership more affordable for borrowers, Beaubien added." Beaubien said the savings gained from UWM's down payment assistance program is truly making a difference for her clients. "A lot of homebuyers, especially first-time homebuyers, will get discouraged about what the closing costs and down payment may look like," Beaubien said.

☆ Wall Street landlords with billions in their coffers have gone silent, patiently waiting for cheaper homes to buy
▼ + stars: | 2023-05-21 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +6 min

For the first two or so years of the pandemic, it looked like big, corporate landlords would buy up so many rental homes that they'd soon control the market that had been the purview of mom-and-pop owners. But five months in, the lull that started the year persists, said analysts at John Burns Real Estate Consulting, a purveyor of real-estate data. According to JT Graham, a John Burns analyst who attended an April conference of the SFR lobbying group National Home Rental Council, the buzzword there was "patience." For those that do make the trip, they can console themselves that the industry's fundamentals are strong enough to offset headwinds such as soaring taxes and slowing rent growth, John Burns analysts said. They're also able to absorb defaults and vacancies in the way small landlords can't as their costs increase.

Since the value of a home isn't guaranteed to go up, it's important to build wealth in other ways. Buying a home comes with long-term costs, but it's also a chance to plan for long-term goals. Compare rates On Rocket Mortgage's website Compare rates On AmeriSave Mortgage Corporation's website Compare rates On New American Funding's website1. Property isn't guaranteed to go up in valueIn the past, buying property was viewed as a way to build wealth and a cornerstone of the American dream. This taught me that a condo isn't a guaranteed appreciating asset.

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