#housing-affordability

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mortgage-rates
www.housingwire.com
1 week ago
Business

Housing affordability dipped in March: First American

Housing affordability decreased in March compared to last year, impacted by rising mortgage rates and nominal house prices. [ more ]
Boston Condos For Sale Ford Realty
1 month ago
Boston

Editorial Note Boston Condos For Sale Ford Realty

Lowering mortgage interest rates may not solve housing affordability issues.
Low fixed mortgage rates lead to reduced motivation to sell properties. [ more ]
SFGATE
1 month ago
SF real estate

Existing-Home Sales Surge in a Positive Sign for This Year's Housing Market

Sales of existing homes surged 9.5% month-over-month, driven by lower mortgage rates.
Home prices rose 5.7% annually to a median of $384,500, marking the eighth consecutive month of increases. [ more ]
www.ocregister.com
2 months ago
East Bay (California)

Southern California leads US home-price surge

Home-price growth in the US accelerated in December, rising 5.5% annually.
San Diego saw the largest year-over-year gain at 8.8%, with Los Angeles-Orange County and Detroit following closely at 8.3%. [ more ]
therealdeal.com
2 months ago
LA real estate

SoCal Homebuyer Needs $73K Raise to Buy a Typical House

The cost of buying a home in Southern California has increased significantly in the past couple of years, with families needing to earn much higher incomes to qualify for a mortgage.
Affordability rates for buying a home have decreased, with fewer households able to qualify due to rising prices and increased mortgage rates. [ more ]
www.nytimes.com
3 months ago
US politics

Interest Rate Cuts Could Be a Boon to Biden

The Federal Reserve's decision to cut interest rates could aid President Biden's re-election prospects.
Rate cuts could improve housing affordability and drive down mortgage rates, potentially enticing home buyers and increasing the supply of available homes. [ more ]
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california
The Mercury News
1 week ago
Medicine

20 least-affordable US cities to buy a home are all in California

California cities dominate the list of highest home-price-to-income ratios in the U.S. [ more ]
www.mercurynews.com
2 weeks ago
California

LA court strikes down controversial California law abolishing single-family zoning

Controversial housing law SB 9, allowing splitting lots for dual homes, ruled unconstitutional in select California cities, sparking debate over state vs. local authority. [ more ]
Kqed
3 weeks ago
California

Modesto High School Students Learn About Tax Filing | KQED

High school students in Central California aid with taxes for those unable to afford accountants. [ more ]
morecalifornia
boston-real-estate
Boston Condos For Sale Ford Realty
1 month ago
Boston food

Most Common Sacrifices To Afford Housing Boston Condos For Sale Ford Realty

Many individuals make sacrifices to afford housing, especially in expensive markets like Boston.
Redfin's study sheds light on the common sacrifices people make to purchase a Boston condo. [ more ]
Boston.com
1 month ago
Boston

Should Mass. ban corporate home buyers?

Between 2004-2018, 1 in 5 residential properties in Greater Boston bought by investors or institutional entities.
Real estate investors contribute to housing affordability challenges by competing with regular homebuyers and driving up prices. [ more ]
Boston Condos For Sale Ford Realty
4 months ago
Boston

Lower Mortgage Rates Make Boston Condos For Sale More Affordable Boston Condos For Sale Ford Realty

Mortgage rates for 30-year fixed mortgages in Boston have come down significantly and are currently under 7%.
The decline in mortgage rates improves housing affordability and allows buyers to afford larger loan amounts. [ more ]
moreboston-real-estate
interest-rates
SFGATE
1 month ago
SF real estate

Australia's home prices extend gains even as elevated costs bite

Property market in Australia continued to rise in March despite affordability challenges and high borrowing costs.
The overall increase in house prices in major Australian cities has slowed, influenced by factors like rate hikes and migration peak. [ more ]
Thesanjoseblog
1 month ago
San Francisco

How much income you need to comfortably afford a San Jose home

San Jose average mortgage requires $454,296 income, San Francisco requires $339,864 income.
Expected future decrease in required income for mortgages due to interest rates. [ more ]
www.cbc.ca
3 months ago
Canada news

ANALYSIS | Bank of Canada governor says interest rate relief won't deliver new housing supply | CBC News

Lowering interest rates will not fix Canada's housing affordability problem, according to Bank of Canada governor Tiff Macklem.
The real issue is the shortage of housing supply, caused by factors such as zoning restrictions and delays in the approval process. [ more ]
www.cbc.ca
3 months ago
Canada news

High interest rates aren't to blame for housing crisis, Bank of Canada governor says | CBC News

The Bank of Canada governor says interest rates cannot solve the housing crisis due to a supply shortage.
Increasing housing supply is necessary to improve affordability, while policies that increase demand will worsen the situation. [ more ]
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homelessness
Los Angeles Times
2 months ago
California

31 candidates compete for 7 seats on the Los Angeles City Council

Voters in seven Los Angeles City Council districts participated in elections impacting homelessness, policing, and housing affordability.
Incumbents in six out of seven races sought re-election amid challenges focusing on ethics and eligibility issues. [ more ]
Mission Local
2 months ago
San Francisco

Mark Farrell launches mayoral campaign from a batting cage - lobs high heat at Mayor Breed

Mark Farrell announces campaign for San Francisco mayor, criticizing current leadership
Farrell focuses on issues of public safety, homelessness, economy, housing affordability, and civic pride [ more ]
Los Angeles Times
2 months ago
California

Column: Credit Newsom for trying to alleviate homelessness, not that he has much choice

Gov. Newsom's ballot measure to address homelessness is the biggest attempt by a California governor, but it may not have a significant impact.
The primary challenge for solving homelessness in California is the high cost of housing. [ more ]
Chicago Tribune
3 months ago
Chicago

National Public Housing Museum opens exhibit on eviction: 'Housing insecurity is weighing heavy on so many of us'

Housing has become unaffordable for half of U.S. renters, impacting eviction rates and homelessness.
The National Public Housing Museum has launched an immersive exhibit called 'Evicted' to raise awareness about housing insecurity. [ more ]
morehomelessness
The Mercury News
1 day ago
Business

US rents climbed 1.5 times faster than wages in last four years

Rents have risen faster than wages in major U.S. cities, causing housing affordability issues. [ more ]
Boston Condos For Sale Ford Realty
3 days ago
Business

Rewriting The American Dream Of Home Ownership Boston Condos For Sale Ford Realty

Renters' homeownership optimism hit a record low with rising rental costs and home prices, hindering the transition to home ownership. [ more ]
Boston.com
1 day ago
Boston

Marblehead becomes latest town to reject zoning changes for MBTA communities

Residents of various Massachusetts communities are resisting state-mandated zoning changes to allow multifamily housing near public transportation hubs. [ more ]
Boston Condos For Sale Ford Realty
1 month ago
Boston

Home Prices Have Risen Twice As Fast As Inflation For 60 Years Boston Condos For Sale Ford Realty

Home prices in the U.S. have outpaced inflation by over twice since 1963.
Income growth has not kept up with the increase in home prices, leading to a significant rise in the home-price-to-income ratio. [ more ]
Boston.com
4 months ago
Boston

In a ranking of housing affordability for singles, Boston is among the worst

Boston is ranked as the fourth least affordable city for singles, according to RentHop's Singles Index.
Single renters in Boston would have to spend 37.47% of their income on a studio apartment. [ more ]
Austin
Austin Monitor
3 weeks ago
Austin

City eyes code amendments to increase affordable housing for UT students - Austin Monitor

The City Council is considering amendments to the University Neighborhood Overlay program to improve housing affordability for University of Texas students and potentially bring a grocery store to the area. [ more ]
Austin Monitor
1 month ago
Austin

For the first time in 20 years, more people are leaving Travis County than moving in - Austin Monitor

Travis County experienced negative net migration in 2022-2023.
Factors for migration include affordability and job landscape changes. [ more ]
Austin Monitor
5 months ago
Austin

HOME proponents, opponents speak out - Austin Monitor

City Council member Leslie Pool is leading the charge in promoting the HOME initiative to reconfigure Austin's single-family zoning rules.
The goal of the HOME initiative is to provide more housing options for middle-income earners who are priced out of the current market. [ more ]
moreAustin
www.theguardian.com
3 weeks ago
London

Little London: village with link to 1665 plague fears new exodus from capital

In Little London, residents protest against wealthy newcomers eyeing up homes and overdevelopment, lacking infrastructure for an influx from London. [ more ]
www.cbc.ca
3 weeks ago
Canada news

What do Canadians want to see in the upcoming federal budget? | CBC News

Focus on housing is a top priority for many Canadians ahead of the government's annual budget announcement. [ more ]
www.cbc.ca
1 month ago
Canada news

Federal plan would count rent toward a credit score. Who will it help and who could it hurt? | CBC News

Including rental payments in credit scores could help renters qualify for mortgages.
The proposal might exacerbate issues for renters struggling with rising costs. [ more ]
www.nytimes.com
2 months ago
Canada news

Few Good Solutions as Home Affordability Plummets

Building more houses may not solve Canada's housing affordability issue
Housing affordability in many Canadian cities is at a four-decade low [ more ]
www.cbc.ca
3 months ago
Canada news

Government extends ban on foreign buying of Canadian housing | CBC News

The federal government is extending the ban on foreign home purchasing in Canada until 2027.
Experts question the significant impact of the ban on housing affordability due to the small share of the market owned by non-Canadians. [ more ]
www.cbc.ca
3 months ago
Canada news

How technology is helping municipalities crack down on illegal short-term rentals | CBC Radio

Municipal governments in Canada are strengthening regulations to limit short-term rentals.
New tech platforms that use artificial intelligence are helping investigators uncover illegal listings. [ more ]
Brooklyn Paper
3 weeks ago
Brooklyn

City releases detailed 'City of Yes' zoning changes, including taller buildings, less parking and affordable housing * Brooklyn Paper

The City of Yes for Housing Opportunity zoning changes in NYC, allowing taller residences, less parking, and more infill buildings to address housing shortages. [ more ]
www.mercurynews.com
3 weeks ago
East Bay (California)

Four enter Berkeley District 4 council race

Four candidates are competing in a special election for a vacant Berkeley City Council seat, focusing on key issues like housing affordability, revitalization, and public safety. [ more ]
Yanko Design - Modern Industrial Design News
4 weeks ago
Design

You can buy a DIY Prefab Tiny House on Amazon and it's cheaper than you think - Yanko Design

Million-dollar homes are becoming the norm in cities due to rising house rates.
Micro-living and tiny homes are gaining popularity as people embrace the idea of living in cosier spaces. [ more ]
therealdeal.com
1 month ago
LA real estate

Bargain Rent Markets Lose Advantage in Pricey California

The disparity in rental prices between high-cost and low-cost cities in California has decreased by 22% since 2017.
The shift in rental pricing trends is attributed to people moving away from expensive coastal cities to more affordable inland areas. [ more ]
Los Angeles Times
1 month ago
California

Why Californians are fleeing this once-Golden State

California's population has dropped below 39 million, a decline attributed to people leaving the state.
Growth challenges such as limited space, expensive housing, and urban development are driving factors for California's declining population. [ more ]
Kqed
2 months ago
California

To Fight Rising Rents, These Fresno County Residents Bought Their Mobile Home Park | KQED

Community bond in Shady Lakes Mobile Home Park
Financial challenges faced by residents [ more ]
www.ocregister.com
2 months ago
California

California homeownership at highest level since 2010

California's homeownership rate slightly increased to 55.9%, still the third-lowest in the nation.
Homeownership rates in California, Texas, and Florida have seen slight upticks since 2019. [ more ]
Mission Local
1 month ago
Dining

Lo que dicen los candidatos del D9 sobre la vivienda

Se necesita crear viviendas asequibles para todos los niveles de renta en San Francisco.
Es crucial establecer un banco público con préstamos a bajo o ningún interés para garantizar la continuidad de la construcción de viviendas en periodos de crisis. [ more ]
SFGATE
2 months ago
SF real estate

What Do Today's Homebuyers Really Want? The Features Most In Demand

Homebuyers prioritize personalized homes over larger sizes.
Newly built homes are shrinking in size due to rising costs and buyer preferences. [ more ]
SFGATE
3 months ago
SF real estate

A Reality Check for the American Dream: Who Can Afford a Home Right Now?

First-time homebuyers are struggling to afford homeownership due to high prices and mortgage rates.
The middle class is finding it increasingly difficult to achieve the American dream of homeownership, as it now requires wealth or luck. [ more ]
Streetsblog
2 months ago
SF politics

Agencies Need to Use Federal Funding to Buy Land for Transit Oriented Development - Streetsblog USA

Housing affordability worsened in 2023 due to rising costs exceeding income growth
Transit-oriented development is not widespread in the US, leading to higher transportation expenses for those living far from transit. [ more ]
www.mercurynews.com
2 months ago
San Francisco

San Jose weighs reserving affordable housing for residents at highest risk of displacement

City of San Jose proposing policy for affordable housing reservation based on displacement risk and neighborhood residence.
San Jose's proposal aims to address housing affordability issues caused by rising rents and potential displacement. [ more ]
Entrepreneur
3 months ago
Business intelligence

20 Cities With Affordable House Prices for Young Homebuyers | Entrepreneur

Housing affordability is near its lowest levels in four decades for younger homebuyers.
Point2 ranked the top 100 metropolitan areas in the US based on their friendliness to buyers under 25. [ more ]
Slate Magazine
3 months ago
Career

Help! I Figured Out a Workaround for the Housing Crisis. My Boomer In-Laws Do Not Approve.

Many people in the younger generation are unable to afford a "starter home" due to rising housing costs.
Some older generations may have difficulty understanding the financial realities of younger generations. [ more ]
Boston.com
3 months ago
East Bay real estate

3 issues readers want Boston to prioritize in 2024

Housing affordability is a top priority for Boston residents.
The majority of respondents disagree with Mayor Michelle Wu's statement that the state of the city is strong. [ more ]
www.ocregister.com
5 months ago
East Bay real estate

How do California Senate candidates plan on tackling housing affordability?

Californians, like Teresa Ramos, are facing long commutes due to high housing costs and limited options near their place of work.
Housing affordability is a significant issue in California, particularly for workers at universities and medical centers.
Adam Schiff, a U.S. Senate candidate, believes the federal government needs to provide more financial assistance to build affordable housing. [ more ]
www.amny.com
3 months ago
NYC politics

State of the State: Hochul focuses on retail theft, mental health, housing in annual address | amNewYork

Gov. Kathy Hochul addressed the issues of crime, mental health, and housing affordability in her State of the State address.
Hochul did not outline any proposals to address the ongoing migrant influx, which received criticism from advocates and elected officials. [ more ]
New York Post
4 months ago
NYC real estate

Single women struggle to pay rent more than single men: Study

Single women in 50 major cities across the US spend 124% more of their income on rent than their male counterparts.
The gender rent burden gap is particularly extreme in certain cities, with El Paso, TX and Miami having the largest disparities. [ more ]
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