#homeownership

#homeownership

Only 36.4% of U.S. residents under 35 own homes, reflecting a broader decline in homeownership rates among younger age groups. The situation is particularly dire in Massachusetts, where the median listing price is $797,000 and requires an annual income of approximately $210,000 to afford.

"You're a little bit early in your process. Not in your age-but in your process. You're in the middle of transitional things that need to happen before you start investing."

Nearly 60% of millennials and Gen Zers say social spending has impacted their financial goals, reflecting the struggle between maintaining a social life and saving for the future.

More Americans aging into retirement are still paying down mortgages. Over the past three decades, the share of homeowners ages 65 to 79 with a mortgage rose from 24% to 41%.

Crossing $2 billion in deployed capital speaks to both the trust we've earned from homeowners and the growing support of capital partners who share our vision.

Boundary lines, or property lines, are critical as they delineate ownership and responsibilities regarding modifications or issues occurring on the property. Disputes over these lines can cause significant problems if not resolved.

While filing for bankruptcy can present financial challenges, it is crucial to understand that it does not permanently close the door on homeownership. Many individuals successfully purchase a home after navigating the bankruptcy process.

In Ohio, the median home price clocks in at $289,900, among the lowest in the nation. A typical mortgage payment comes to $1,513.

Owning a home on one income may be feasible in affordable states in the Midwest and the South. Alabama checks both boxes—and continues to draw interest from buyers looking for value and stability.

The equity exit strategy involves selling a home before the bank forecloses, allowing you to access any remaining equity, pay off your mortgage, and avoid the credit-damaging consequences of foreclosure. This approach highlights the importance of timing, as selling while there’s still market value can prevent a total loss and mitigate financial damage.

"Residents typically own the structure, but not the land beneath it. That legal distinction leaves them vulnerable."

A built-in vacuum system is cumbersome and requires annoying storage space, leading to the decision to opt for a cordless vacuum instead.

A reverse mortgage, or lifetime mortgage, allows homeowners aged 55 and over to borrow against their home's equity, requiring no monthly repayments.

According to Realtor.com economists, 9.4% of Washington homeowners exceeded the previous $10,000 SALT deduction cap. With the new $40,000 ceiling, only 0.8% are projected to remain above the limit.

"Wealth isn't just about income. It's about what you own and how liquid or productive those assets are. That's why I always emphasize home equity, smart investing, and managing cash flow over chasing a bigger paycheck."

"Luckily, a friend of mine, Wade, was looking for an investment property in 2021. We decided to join forces to co-purchase a home."

Each month, we continue to save on utilities, like garbage and water. Splitting the mortgage, property tax, and insurance made homeownership feasible for us.