Existing home sales fell for the seventh straight month in August as rising interest rates continued to sideline potential home buyers, and prices are finally starting to fall from record highs as experts project that the next few months could help ease the housing sector’s long-standing affordability crisis. Existing home sales ticked down 0.4% from […]
As home prices soared in recent years, homeowners enjoyed record levels of tappable home equity, which is the amount of money a homeowner can borrow against while keeping a 20% equity stake. But that’s all changing as home prices begin to fall, with July seeing the largest decline in home prices since 2011, according to […]
Justin Wolfers, a professor of economics at the University of Michigan, recently posted something on Twitter that stirred the collective pot: “Lemme ask one of those tone deaf economist questions that annoy almost everyone. Today, many families learned that the amount they owe on their mortgage has declined—in real terms—by 9.1% over the past year. […]
Rising mortgage rates mean fewer would-be buyers can afford first homes. That takes them out of the land of the American Dream, and places them squarely, and possibly interminably, back in renting country. These folks, who otherwise would have left the renting population, are instead adding to the cohort. Their increased demand is helping propel […]