buying a home
Three reasons why Barbara Corcoran says this housing market is best of her lifetime
Real estate guru Barbara Corcoran offered up three reasons for the favorable environment: an initial delay in recognition of the investment opportunity has given the market longevity; the consistent rise of rents nationwide; and the persistence of low interest rates.
First-time buyers in UK to get help with new mortgage loans
Chancellor Rishi Sunak will unveil a new mortgage scheme at his 3 March Budget that will help first-time buyers with small deposits get on the property ladder.
Quicken Loans parent company's stock skyrockets — CEO weighs in on rising rates
Rocket Companies sees a big boost from the red-hot U.S. housing market.
This Is the Salary You Need To Afford the Average Home in Your State
Do you know the average salary to afford a house in your state?
'Agents are surprisingly optimistic about 2020' real estate market: Expert
According to a new survey from online real estate platform HomeLight, only 12% of agents are worried about an economic downturn this year compared to 36% of respondents predicting it could happen in 2021. HomeLight COO Sumant Sridharan breaks down the survey's findings. Yahoo Finance's Zack Guzman & Heidi Chung, along with Payne Capital Management President Ryan Payne join in on the conversation.
HGTV stars share how to avoid buying a money pit
“The biggest thing in real estate is location,” Aubrey says. It’s harder to resell a home that backs into a major street or railroad tracks, so they avoid purchasing these kinds of properties. Aubrey relies on her DIY skills when it comes to sprucing up the spaces they flip, and says a coat of paint can go a long way.
- Things They Don't Tell You About...
Buying a House? Now You Know
Looking for a new home? Here are some helpful insurance tips while you’re on the hunt.
Millennial homebuyers struggle the most, according to new data
This means the market is competitive, and affordable homes harder to come by. Millennials are affected the most, because they make up 42% of first-time homebuyers, the largest group of any generation. According to a report by Apartmentlist, 80% of millennials said they would like to buy a home one day, but just 55% think they can actually afford to buy one.
Older millennials are leaving the city for a new kind of suburb
Older millennials are leaving the city for more affordable urban perks in the suburbs.
The most accurate way to calculate how much home you can afford
To avoid being house poor, it’s crucial to calculate how much house you can really afford. Jeanie Ahn of Yahoo Finance guides you with a simple roadmap that can help guide you through the process.
It could soon be cheaper to rent than buy
The financial benefits of buying a home are not as clear as they once were.
Here's How Much Money You Need To Make To Buy A Home
In a few cities in the Rust Belt, you can afford to buy a house while making less than $40,000. In San Francisco, you'll need to quadruple that.
Interest Rate Debate: Refi or Take Out a Home Equity Loan?
AlamyBy Scott SheldonThe Federal Open Market Committee of the Federal Reserve meets this month and there are indications it will raise interest rates for the first time in nearly seven years.If you you've been considering refinancing or taking
- Yahoo News Digest
Unsettled: Millennials delaying homeownership amid financial hurdles
The typical first-timer now rents for six years before buying a home, up from 2.6 years in the early 1970s, according to a new analysis by the real estate data firm Zillow. The median first-time buyer is age 33 — in the upper range of the millennial generation, which roughly spans ages 18 to 34. The delay reflects a trend that cuts to the heart of the financial challenges facing millennials: Renters are struggling to save for down payments.
- TheStreet
Tighter Labor Market and Inflation are Key to the Recovery
Housing has made a recovery due to jobs, with Texas as the key market followed by Florida and the Southeast region. Hollis Greenlaw, CEO and Chairman of UDF IV, a lending company that specializes in providing capital solutions to homebuilders and developers, tells TheStreet’s Jill Malandrino if you look at when the Great Recession started at the end of 2007 through 2013, Texas created nearly a million new jobs in contrast to the United States losing a million jobs. Greenlaw says job creation is happening at a state level and that is where housing and consumers are the strongest. He also believes housing will be stronger in 2015 relative to 2014 and the key driver is to picking up the pace in the economy will happen from a jobs perspective. Finally Greenlaw explains why inflation should be embraced by investors because as prices go up, consumers spend as prices will be more expensive tomorrow.
- TheStreet
U.S. Home Prices Dip in June as Widespread Gains Continue to Ease
Increases in U.S. home prices are experiencing a widespread slowdown, according to the S&P Case-Shiller composite index of 20 metropolitan cities. The index fell 0.2% in June on a seasonally-adjusted basis, versus economists expectations of a flat reading, according to Thomson Reuters. Non-seasonally adjusted prices rose 1% in the 20 areas, in line with expectations. David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices notes that home price gains continue to ease as they have since last fall -- and that for the first time since February 2008, all cities showed lower annual rates than the previous month.
- TheStreet
MNI Reality Check: Tight Supply Lifts NYC Housing Prices
On Thursday, the National Association of Realtors releases its report on existing-home sales for July. But what are New York City realtors seeing first-hand? Summer is typically a slow season for New York real estate, but that does not necessarily mean there is that much less demand for properties in one of the world’s most renown cities. It is a summer of ripe demand and tight supply in the New York City real estate market. Average prices continue to march higher, skewed by luxury apartment sales. But where is all of the inventory? Here is a snapshot of the Manhattan housing market, from the vantage point of real estate agents on the ground and insights from executives at Douglas Elliman and BOND New York.
- TheStreet
Wall Street Rallies, Nasdaq to Close at its Highest in 14 yrs
Easing geopolitical tensions had Wall Street rallying to new highs. The Dow Jones Industrial gained 175 points, The Nasdaq closed at its highest level in 14 years. Dollar General (DG) closed more than 11 percent higher after offering to buy Family Dollar (FDO) for more than the other rival, Dollar Tree (DLTR). Airline stocks got a nice lift from falling oil prices. American (AAL), United Continental (UAL) and Southwest (LUV) all gained more than 3 percent. Homebuilder stocks also advanced. Confidence rose after the Home Builders Index for August came in at its highest level in seven months. KB Home (KBH), Hovnanian (HOV) and Ryland (RYL) are all up sharply. Google (GOOG) helped with the Nasdaq’s broad gains. The internet giant acquired start-up software developer, JetPac, which uses information taken from social-media photos to make city guide apps. The details of the deal are undisclosed. But a downgrade pushed Monster Beverage (MNST) stock lower in today’s trading. The stock is down more than 5 percent after Jefferies revised it to a 'Hold' from a 'Buy' rating. Some big names set to report earnings Tuesday include Home Depot (HD), Medtronic (MDT) and TJX companies (TJX), the operators of TJ Maxx stores. Economic reports to watch for are the CPI, Housing starts and Building permits. All will be released at 8:30 eastern, before the bell.
- TheStreet
Buy or Rent? 4 Things to Consider Before You Take the Plunge
If you're a renter, you've probably heard you're throwing away money each month.
- TheStreet
Zillow CEO Spencer Rascoff Says Housing is Localized, Complicated
After the National Association of Realtors said pending home sales dropped 1.1% in June following three straight months of solid growth, Zillow chief executive officer Spencer Rascoff weighs in on the choppy picture of the housing market right now. Rascoff says there is no national real estate picture. In fact, he says the housing market is hyper-local, with New York City and the San Francisco Bay area being the strongest regions. Looking forward to the rest of the year, Rascoff offers the prediction of 3% to 4% nationwide appreciation, which he says is slightly better than historical averages.
- TheStreet
Millennials At Fault For 'Disappointing' Yellen On Housing Recovery
More data on the housing front Thursday with housing starts figures due out at 8:30am ET. The latest data so far in housing has been showing improvements. Home builder sentiment is up, home sales for existing, new and pending are all showing upside. But not everyone is feeling good about therecovery. Federal Reserve Chair Janet Yellen says the housing market overall continues to be 'disappointing'. And some agree the market's recovery is slow like Jeff Taylor, managing partner at Digital Risk. Taylor says "the housing industry is still slow to recover relative to past recoveries." He also talks about what trends he sees in homeownership and one age group that is not doing its part to help the housing recovery. TheStreet's Susannah Lee reports from New York.
- TheStreet
FICO Survey Finds Mortgage Lenders See Real Estate Bubble Forming
A FICO survey of North American mortgage lenders found that many are concerned about the potential of another housing crash. Fifty-six percent of lenders surveyed are concerned that an "unsustainable real estate bubble is inflating." FICO Chief Analytics Officer Dr. Andrew Jennings explains that six million homeowners in the U.S. are still underwater on their mortgages, with the average negative equity at 33%. Yet total homeowner equity in the U.S. is at its highest level since late 2007 as home prices soar in many cities. This disparity has lenders tightening their underwriting standards.
- TheStreet
LGI Homes is Building it Brand in the Entry-Level Homebuyer Market
Dallas is the hottest housing market in the United States and Texas-based builder, LGI Homes, is capitalizing in the entry-level home buyer market. In addition to the Texas market, CEO Eric Lipar is seeing strong demand in Atlanta, Phoenix and Florida, particularly from entry-level home buyers eager to make the transition from renting to owning. LGIH recently expanded to the Tucson and Albuquerque markets and announced last quarter that it plans to move into the Charlotte, North Carolina and Denver, Colorado markets as well. Jill Malandrino reports from the NASDAQ Market Site.
- TheStreet
Lennar Homes' Higher Prices Doesn't Scare Away Buyers
Lennar home builders raised its prices by 14% during the second quarter and it didn't hurt demand one bit. The country's largest home builder also cut back on discounts and delivered more homes than 2013. Lennar said that in some markets it was finding it hard to meet demand because of limited land availability. This was good news to investors who were concerned the housing sector was cooling off once again. The higher prices though may be a reason why consumers had less money to spend at Bed Bath & Beyond to outfit their new homes. The retailer delivered weak results after the closing bell on Wednesday.
- TheStreet
3 Things That A Glad Trash Bag Could Teach Us About the U.S. Economy
Oftentimes a reading on GDP or existing home sales fail at painting a true picture as to what’s happening in the U.S. economy. The real health, or lack thereof, of households and businesses could be seen in what they choose to consume and why. One kitchen and outdoor staple that offers great economic perspective is a simple, plastic trash bag. In an interview with the executive at Clorox responsible for overseeing the Glad trash bag division, Brian Sozzi learns three key trends at the company that speak volumes about the health of the U.S. economy. Spoiler alert, there is a smart trash bag in development.
- TheStreet
Buyers Face Tight New York Housing Market
If there is one overwhelming theme going on in the New York City home sales market right now, it’s tight supply. Realtors in New York City say there are so few properties available that clients are finding themselves in bidding wars with other eager buyers, and would-be buyers are getting outbid on home after home, and they’re getting frustrated. So why aren’t more people selling in a red hot market? Here’s a snapshot of the Manhattan, Brooklyn and suburban New York housing markets, from the vantage point of real estate agents on the ground and insights from executives at Douglas Elliman, BOND New York and Houlihan Lawrence.