Everything a first-time homebuyer needs to know to seal the deal
1 Nov 2018
Real estate professionals offer consumers advice on first-time buying programs and insights into market conditions
Affordability is at an all-time low for starter homes, and it’s making things tough for prospective first-time homebuyers to cross over from renting to owning.
A recent news story from Bloomberg claimed starter homes are pricier than they were at pre-recession levels and the typical first-time homebuyer now needs nearly 23 percent of their income to afford the typical entry-level home, according to data from the National Association of Realtors.
Even as prices gradually decrease and inventory rebounds, modest cooling in the housing market really only helped high-end markets.
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Heather Cassell knows it’s cheaper to buy something that’s used.
“Pretty much everything I have is used,” said Cassell, 39, a single mother of three boys. “I don’t see why I would buy anything new. It’s a lot less expensive.”
Her landlord has learned the same lesson. Cassell...
It just isn’t that complicated.
Housing costs more than it used to for most of us, and our incomes haven’t kept up.
That’s the full explanation of what’s meant by the term affordable housing crisis.
Maybe this seems obvious to you. But through a summer of interviews...
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Oct 29 2018New report highlights housing as single best investment for Minnesota's economy
According to Governor Dayton’s recent report on housing, the single best investment we can make to ensure Minnesota’s economic competitiveness is to increase the amount and quality of stable housing for all Minnesotans. With the rising cost of...