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☆ Here's how natural disasters are shaping the buy-versus-rent decision in vulnerable states like Florida
▼ + stars: | 2024-10-13 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +6 min

Owning a home in high-climate risk states like Florida is becoming tougher amid rising costs. Experts say the next few years will be crucial for housing policy in the wake of severe climate disasters. On the one hand, buyers are facing rising costs as insurance premiums skyrocket. Still, a big advantage to owning a home is the ability to lock in housing costs. That's especially true after climate disasters, according to one study that looked at rent prices following hurricanes in US coastal states.

Persons: Hurricane Milton, homebuyers, Chen Zhao, Jung Hyun Choi, Choi, Katrina, Zhao Organizations: Service, Institute's, Finance Policy Center Locations: Florida, Hurricane, Texas, Georgia, Louisiana, it's

☆ A record number of apartments are getting built this year. That's great news for real estate affordability.
▼ + stars: | 2024-09-28 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The US will see construction completed on a record number of apartments this year. The Sun Belt region in particular is seeing this dynamic play out. The US will see construction on a record number of apartments completed this year. They're now seeing rent prices fall, or at least remain stagnant as the rest of the nation lags behind. That means the market will eventually balance itself in the next few years, which will lead rent prices to once again rise, she said.

Persons: —, Laurie Goodman, Goodman, Austin, Chen Zhao, Zhao Organizations: Service, Housing Finance, Center, Urban Institute, Sun, metros, Dallas, Harvard Locations: Dallas, New York, Austin

☆ Biden proposes $10,000 tax breaks for first-time homebuyers, 'starter home' sellers
▼ + stars: | 2024-03-08 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Cavan Images | Cavan | Getty ImagesPresident Joe Biden has floated plans to address the country's affordable housing issues, including new tax breaks for first-time homebuyers and "starter home" sellers. "If inflation keeps coming down, mortgage rates will come down as well. Interest rates still near 'multidecade highs'With soaring home prices and mortgage interest rates, 2023 was the least affordable year for homebuyers in more than a decade, according to a report from Redfin. "We're close to multidecade highs for mortgage rates," said Keith Gumbinger, vice president of mortgage website HSH. watch nowThere's a 'housing supply crisis'Of course, higher mortgage interest rates are only one piece of the country's affordable housing puzzle.

Persons: Joe Biden, Biden, I'm, Keith Gumbinger, it's, Janneke Ratcliffe Organizations: Getty, White, Chamber, U.S, Capitol, Washington , D.C, homebuyers, Housing Finance, Center, Urban Institute, Urban Locations: Cavan, seller's, Washington ,, Redfin

☆ What Happens When Wall Street Buys Most of the Homes on Your Block?
▼ + stars: | 2023-09-16 | by ( Ronda Kaysen | Ella Koeze | ) www.nytimes.com time to read: +21 min

Alvin and Patricia Maisonet bought their house in Bradfield Farms almost a decade ago. Bradfield Farms fit the bill: It is in an area that, in 2020, was 35 percent Black and 11 percent Latino, according to census data. Tarchia Barber chose to rent in Bradfield Farms because of the neighborhood’s rural feel. The RentersTarchia Barber liked the rural feel of Bradfield Farms, with cul-de-sacs and shady streets surrounded by farmland and woods. A school bus drops off students in Bradfield Farms, a quiet neighborhood where parents say their children often roam freely.

Persons: Ronda Kaysen, Ella Koeze, Logan Cyrus Sept, “, Alvin Maisonet, Maisonet, Patricia Maisonet, Joggers, ”, Alvin, Kelli Enos, Cash, can’t, Laurie Goodman, “ Covid, David Howard, Keith R, Madeline Bankson, They’re, Jessica Moreno, Tarchia Barber, Barber, He’d, Nikki Sloup, Sloup, Becky Johnson, didn’t, Johnson, Jesus ”, Greg McBride, Hall, Brandon Little, Keller Williams, Bradfield, “ We’ve, Jade Rahmani, Keefe, “ It’s, ” Mr, Rahmani, Enos, ” Dana Hartness, James M, Hasty, Ms, Lisa Damas, Kasey, Jim Sylvester, Sylvester, Hartness, —, — she’s, Dana Hartness, She’s Organizations: →, HomeRiver, Investor, Vegas, Kansas City, Antonio, Houston, Investors, New York Times, Homeowners, “, Bradfield Farms, Charlotte Airport, NORTH, NORTH CAROLINA, SOUTH, CAROLINA SOUTH, Bradfield, Housing Finance, Center, Urban Institute, National Rental Home, Rentals, Florida State University, Equity, Bankrate.com, Sheree, Nationwide, Facebook, Mecklenburg Police Locations: Ronda, Charlotte, N.C, Bradfield Farms, Bradfield, Paterson , N.J, United States, ATTOM, Atlanta, Phoenix, Memphis, Birmingham, Ala, Orlando, Fla, Jacksonville, Tampa, Kansas, Mo, NORTH CAROLINA, CAROLINA SOUTH CAROLINA, “, American, North Carolina, New Jersey, Peru

☆ More Foreclosures, Easier Mortgages Would Help Fix America's Housing Market
▼ + stars: | 2022-12-03 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

These standards are based on factors including the borrower's financial stability and the state of the housing market and economy. Finding the right size for the credit box is much easier said than done. A tidal wave of foreclosures followed, plunging the US housing market — and the global economy — into chaos. Even just stabilizing the credit box over time could also help smooth out some of the boom-and-bust cycles that have come to define the housing market. "If we do not address this intrinsic cyclicality, the housing market will continue to experience boom-bust cycles, leaving destruction in their wake," the paper said.

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