Tag Archives: Renters

A research by the New York Fed found that tight credit is making it increasingly difficult for homeowners to access their equity. What are its implications?

Can home affordability be measured especially when one is looking at the ability of current renters on becoming homeowners? A study by the Urban Institute attempted to answer ...

It isn’t easy living in the Big Apple, ask any homeowner in the metropolis and they’ll agree. But, they’ll also agree that there’s no place like New York. ...

There’s more to the cost of owning the home than mortgage and down payment of a house.  According to a survey by personal finance website, Bankrate.com, The average ...

In its video series highlighting housing data, the National Association of Realtors says that though home sales will see a slight fall, the economic growth and job gains will continue to fuel the housing market in 2018.

Renters are finally setting their sights on homeownership, according to an analysis released on Thursday. In Q1 of 2017, the share of home shoppers who were either non-homeowners or renters rose markedly over years past. Will the trend continue? And what does it mean for lenders and multi-family property investors?

The rate of homeowners in the U.S. has reached a historic low. Many question if the largest living generation, millennials, will purchase homes at similar rates to previous generations. Apartment List’s annual renter survey included input from 24,000 millennials, which they analyzed to better understand millennial homeownership plans.

The average American renter can now purchase a home more expensive than the nation’s median home value, while keeping their monthly housing budget the same. This was true in 37 out of 50 markets analyzed. The current national median rent is $1,416 per month—just enough to handle the monthly costs of a property valued at $289,505, including property taxes, maintenance, and insurance payments.

Down payments are holding back renters from entering the housing market. Mortgage payments tend to be considerably cheaper than a rent payment on a monthly basis, but Zillow’s Housing Aspirations Report found that 70 percent of renters across the country are find high down payment costs to be the top roadblock to homeownership.

Fifty-six percent of renters feel that now is a good time to buy a home, which is down from 57 percent last quarter, and down even further from 62 percent a year ago. Comparatively, 80 percent of homeowners feel now is a good time to buy.