Tag Archives: Housing Payments

According to a new Realtor.com survey, while 2024 is expected to remain a challenging year for homebuyers, nearly all first-time homebuyers overwhelmingly feel that they’ll be able to afford a home within their lifetime.

A new report from the Joint Center for Housing Studies revealed Black, Hispanic, and Asian households were far more likely than white households to fall behind on housing payments during the pandemic. Black renters were most vulnerable, with one in four reporting being behind on rent in 2020.

Monthly housing payments have reached a record-high of $2,614, as mortgage rates climbed to 7.12%, pricing out many homebuyers with tight budgets, according to Redfin.

As mortgage rates creep toward the 7%-mark, buyers still in the market are being forced to downgrade their options for a larger home, cutting more than 400-square feet out of the homes on the market.

There is no denying that the pandemic has altered Americans’ lives and is likely to impact their voting behaviors in the 2020 presidential election. As the election draws ...