Sentences with phrase «affordability of their first home»

A third reason Millennials do not plan to own and grow old in the same home might have something to do with the affordability of their first home.

Not exact matches

Reduced affordability, while challenging for first - timers, may prove to be more of a surprise for move - up clients who anticipated greater leverage on their home equity; should those clients break existing mortgages upon their move, they will also be subjected to stress testing.

Also at 12:45 p.m., Rep. Sean Patrick Maloney will join a first - time homeowner and housing experts to announce legislation to help middle class families afford rising housing costs amid a national rental affordability crisis, home of Taylor Van Dyck, 33 Ontario Ave., Middletown.

CoreLogic's chief economist, Frank Nothaft, said, «Growing numbers of first - time homebuyers find limited for - sale inventory for lower - priced homes, leading to both higher rates of price growth for starter homes and further erosion of affordability.»

British Columbia will start offering interest - free loans to help first - time home buyers with their down payments in a market where skyrocketing prices have fuelled an affordability crisis and pushed the dream of owning property out of reach for many.

The moderation of house prices will improve affordability and create opportunities for first - time home buyers, it said.

The index combines interest rates, household incomes, home prices and other factors, such as the removal of the first home buyers» impetus to determine housing affordability.

The average home prices compared to the average amount spent by first - time homebuyers in a province helps to illustrate the cost of living and affordability in each of Canada's provincial regions.

Pushback against overly tight credit after the housing crisis, a shrunken proportion of first - time buyers and worry about affordability as home values rose led to some tweaks to guidelines that could ease financing pressures for homebuyers this year.

We've followed the small living movement in our «Tiny house trends series,» which has featured traditional homebuilders switching over to tiny homes, companies finding untapped demand in the small home market, residents of the first public tiny house community in the country seeing the movement evolve, and an architect who wants to adapt the trend to address problems of urban infill and a lack of affordability.

«Preliminary research results from our team find that millennials are accelerating the rate at which they move out of their parents» homes and form new households; however, continued slow supply growth implies continued strong price appreciation and affordability constraints facing millennials and first - time buyers in many markets,» Duncan says.

Jobs are growing and interest rates remain low, but tight inventory in many parts of the country continues to drive home prices up, hurting affordability, especially for first - time buyers, who can't tap home sale proceeds to come up with a down payment.

«Nearly two - thirds of renters currently believe now is a good time to buy a home, but weakening affordability and few choices in their price range have made it really difficult for more aspiring first - time buyers to reach the market,» Yun says.

Over half (54 per cent) of renters cited affordability as a key reason for not owning a home and 70 per cent surveyed indicated they would be more willing to consider owning if the government offered more tax breaks and incentives to offset costs for first - time buyers.

Current inventory conditions are also eroding affordability, especially for first - time homebuyers in the market for starter homes, which would require 39.1 percent of their monthly income.

Reduced affordability, while challenging for first - timers, may prove to be more of a surprise for move - up clients who anticipated greater leverage on their home equity; should those clients break existing mortgages upon their move, they will also be subjected to stress testing.

In 2009, first - time buyers comprised an unprecedented 47 percent of the market, most likely due to the federal tax credit and historic affordability, according to the National Association of Realtors ®» 2009 Profile of Home Buyers and Sellers.

«Millennial homeowners who can't afford to trade up because of their student debt end up staying put, which slows the turnover in the housing market and exacerbates the low supply levels and affordability pressures for those trying to buy their first home,» says Yun.

Median home prices during the first quarter of 2018 were not affordable for average wage earners in 68 percent of counties throughout the country, according to ATTOM Data Solutions Home Affordability Rephome prices during the first quarter of 2018 were not affordable for average wage earners in 68 percent of counties throughout the country, according to ATTOM Data Solutions Home Affordability RepHome Affordability Report.

The issue of affordability and homes close to city centers is increasing each year in Connecticut as first - time homebuyers and downsizers are competing for the same inventory.

That is up from a home affordability rate of 55 % in the fourth - quarter of last year and 53 % in the first quarter of 2011.

In the first quarter of 2015, buying a home was at its most affordable level in two years, according to a joint report from real estate analytics firm Clear Capital and real - estate research firm RealtyTrac — which analyzed affordability using average weekly wage data from the Bureau of Labor Statistics and average prices for single - family homes and condos from 582 counties across the country.

Recreational enthusiasts, first time home buyers, investors, and those looking for a return to a country lifestyle flocked to the area as a result of increased awareness, affordability / value, and the relaxed rural lifestyle.

«Affordability is a key metric in determining the overall health of a housing market as it largely represents the barrier to entry for first - time home buyers,» said Alex Villacorta, Ph.D., vice president of research and analytics at Clear Capital, in the report.

The Trump administration's move last week to suspend indefinitely a planned insurance - premium cut for Federal Housing Administration (FHA) loans could hamper home affordability and keep thousands of first - time homebuyers on the sidelines, according to some housing advocates.

It was the best showing for local home affordability since the first quarter of 2014, because of a decline in home prices and mortgage interest rates.

Also covered are the drop in the number of homebuyers as home affordability continues to decrease, the president's first draft on tax cuts...

When we first started doing business in 1986, we wanted to bring the ease and affordability of modular homes to prospective buyers who wanted customization.

You can use its database to help new buyers overcome affordability obstacles and receive the satisfaction of being the first to tell them, «Welcome to your new home.»

«In fact, home - affordability reached a new all - time high for the first quarter of 2012.»

After the economic crisis created a drought of home sales and declining prices from the fourth quarter of 2008 through the first quarter of 2009, the market began to recover in the spring due to pent - up demand and improved affordability.

Despite a higher degree of frustration in the marketplace than in previous years, the Re / Max Affordability Report found that first - time buyers, in particular, remain steadfast in their determination to purchase a home.

While nearly half of the Coldwell Banker survey respondents reported that affordability was the No. 1 concern for this group, 82 per cent said today's first - time homebuyers consider move - in conditions to be very important when searching for homes.

Although average price is the barometer for housing values in most major centres, first - time buyers looking to achieve home ownership consider starting prices a more meaningful gauge of affordability, says the report.

The affordability of manufactured homes has long made them the preferred choice for many families, including first - time homebuyers, retirees and families in rural areas.

It is imperative that once every first time home buyer has gotten a pre-approval from a reputable lender, identified and negotiated a property using a professional Realtor, that they obtain an approximate estimate of the above sums to determine true affordability.

The percentage of home buyers who could afford to purchase a median - priced, existing single - family home in California dropped to 32 percent in the third quarter of 2013, down from 36 percent in first - quarter 2013 and from 49 percent in third - quarter 2012, according to C.A.R.'s Traditional Housing Affordability Index (HAI).