Global News’ Post

Homes in 29 states are unaffordable to the median household, marking the first time a majority of states have below-average #affordability. This crunch is even deeper than that during the subprime #HousingCrisis. In these 29 states — led by Hawaii, California, and the District of Columbia — the median household cannot afford a median-priced home, according to our home affordability index. Read our S&P Global Market Intelligence article to learn more: https://ow.ly/cNMs50QceVL

How are today's renters redefining the #AmericanDream? CNET breaks down our data findings on renters' perceptions of homeownership and why many people are opting for flexible living situations in 2024: https://lnkd.in/gdYQ_D3t #NewAmericanDream

A recent article in The Economist focused on 'The property paradox: How can American house prices still be rising?" Three factors contribute to this conundrum: higher interest rates, current homeowners having long term loans at low rates, and low supply of available houses. As a result, prospective homeowners can't afford a new home or trade up to a nicer home. https://lnkd.in/d6FD8ZfK One side effect of the above factors and increased WFH is more people tackling remodeling projects inside current housing. According to Harvard Joint Center for Housing Studies expenditures in 2022 reached nearly $570bn (2% of GDP). Keep an eye on the home modifications market and solutions like Rosarium Health specifically for households where people who might benefit from wheelchair ramps, widened doorways, or grab bars. #housing #health #homemodifications #mortgagerates #accessibility

NAR Research Reveals Homeownership ChallengesIn a recent hearing, NAR's research shed light on the growing hurdles of eroding affordability and inventory shortages, barring many Americans from owning homes. Stay informed on the latest developments shaping the housing landscape.#RealEstate #Homeownership #Affordability #InventoryShortage #NARResearch #aulanithemessenger

Homes in 29 states are unaffordable to the median household, marking the first time a majority of states have below-average affordability. This crunch is even deeper than that during the subprime housing crisis. Learn more about our home affordability index: https://ow.ly/7IfU50QcYce

Don’t be fooled by the headline you have probably seen from a few sources. Ask yourself: “What if, instead of renters reporting a lower quality of life than homeowners, the reality is that those with a lower quality of life are the ones that have to choose to rent.”? Hear me out. At least in the BC Lower Mainland, as recently as 2011, you could rent a home for one-third the price of owning that same property. Now, the cost differential is so much less that some form of dissonance will be experienced by those who cannot save enough for a down payment to own. In other words, it made good financial sense, depending on an individual circumstances, to actually rent instead of buy. No longer. But it might be too late to save up the payment for some. Correlation does not imply causation. Homeowners do not necessarily experience a higher quality of life just from ownership, but rather from a whole constellation of other factors. Not the least of which is the satisfaction and peace of mind that comes from making sound financial decisions on a consistent basis. Only a small minority will be blessed with the ability to know when to switch between ownership and renting. Have a great day!

The latest from The New York Times explains why policymakers are now looking to rent reporting as a way to reduce disparities in homeownership. We're proud to play a part in this discussion now and always. #forwardtogether

The high cost of housing is a frequent topic of discussion these days. What’s talked about less is how we got here. This article dives into the driving factors behind the current housing crisis and cautions that some will be easier to address than others. Most of these factors carry familiar disparate impacts: for example, while many households struggle with the widening gap between median income and housing costs, some existing homeowners are benefiting from the same rising home prices in a society that prizes homeownership as a wealth-building vehicle, making this a difficult issue to talk about politically. #interestingread #housing

A monthly survey of Americans found housing market sentiment largely unchanged in August, though an increasing number of respondents say now is a good time to sell a home. https://looksee.it/cq7PQ #ConsumerSentiment #HousingMarket #RealEstate #RealEstateBlog #HousingMarketUpdates #Realtor

With various factors keeping homeownership out of reach for Americans, many aspiring homeowners are pessimistic, doubting they will ever achieve that goal. Would-be buyers point to two major obstacles holding them back. About half, 51%, point to a high cost of living, and 54% say they have insufficient income given where home prices are now. The site polled 2,267 U.S. adults, 864 of whom are aspiring homeowners, in late January. When asked about their ability to buy a home, 20% of aspiring owners said they may “never” be able to save enough for the down payment and other costs. Meanwhile, 30% said it could take them at least five years, while 10% said it could take them a decade or longer. “That’s a long time for people to wait,” said Mark Hamrick, senior economic analyst. ”‘Never’ is a long time, [and] so can be five or 10 years.” To read the full article, visit the link in bio, highlights, or below: https://lnkd.in/eYpPGJ2M •⁣⁣ •⁣⁣ •⁣⁣ •⁣⁣ •⁣⁣ #CommercialRealEstate #Glendalerealesstate #Lacrascentrealestate #GharibianRealEstateandFinance #SBAloan #MortgagehomeLoan #commercialloans #ResidentialRealEstate #RealestateInvestment #BurbankRealestate #Southerncaliforniarealestate #Sanfernandovalleyrealestate #Sangabrielvalleyrealestate #Glendalehomeloans #Pasadenahomeloans #southercaliforniahomeloans #Ronniegharibian #blueinvestmentcorporation #firsttimehomebuyer #mortgageloanapproval