housing You Now Need Over $120,000 to Afford a Home as Typical Household Earns $87,460, Per Atlanta Fed Six figures is no longer enough to buy the median home A household now needs to earn over $120,000 a year to afford a median-priced home, while the typical household earns just $87,460. The figures come from the Federal Reserve Bank of Atlanta's Home Ownership
Economy America Is in a Homebuyer Recession: Mortgage Purchase Applications Are Down 60% From Their Pandemic Peak Demand is lower than at any point in the housing crash America appears to be in a homebuyer recession. Mortgage purchase applications are down 60% from their pandemic peak, per Redfin, and homebuying demand is now back near 1995 levels, lower than at any point during the 2008 to 2012
Economy Banks Repossessed 5,794 Homes in August, Up 42% From a Year Ago The end of the pipeline is moving faster than the start Banks are taking back more homes. Lenders repossessed 5,794 US properties in August through completed foreclosures, up 42% from a year ago and 22% from July, according to real estate data firm ATTOM. That growth far outpaced the
Economy The American Dream Now Costs $5.32 Million Over a Lifetime, Investopedia Finds The dream is outrunning the paycheck The lifetime cost of the American dream rose to $5.32 million in 2026, up 4.1% from $5.11 million a year earlier, according to Investopedia's annual analysis. The increase of more than $208,000 outpaced pay: private-sector wages and
housing Homebuilders Say ICE Crackdowns Are Making It Hard to Find Workers Builders are raising the ICE issue unprompted Immigrants make up more than a quarter of the U.S. construction workforce and more than half of workers in several key homebuilding trades, according to an Axios analysis of National Association of Home Builders data. Homebuilders now say stepped-up ICE enforcement
housing US Homes Are Now the Least Affordable on Record, Atlanta Fed Data Shows US homes are now the least affordable on record U.S. homes have become the least affordable on record, according to data from the Federal Reserve Bank of Atlanta. A household now needs more than $120,000 in income to afford a median priced home, more than the typical household
housing Six Figures Is No Longer Enough: It Takes $120,000 to Afford the Median Home You now need $120,000 a year to afford the median home Six figures used to mean you had made it. For a lot of Americans, it no longer does. A household now needs to earn over $120,000 a year to afford a median priced home, per the Federal
mortgages Average 30-Year Mortgage Rate Hits 7.6%, per MortgageNewsDaily MortgageNewsDaily's index hit 7.59% for top-tier 30-year fixed rates. The MBA weekly survey hit 7.49%, the highest since November 2023.
mortgages 30-Year Mortgage Rate Hits 7.63%, Highest in Years The average 30-year fixed mortgage rate climbed to 7.63% on Wednesday, according to Mortgage News Daily's daily survey, rising 0.07 points from Tuesday's 7.56%. Rates keep grinding higher The increase extends a relentless climb that has pushed borrowing costs to levels last
peter schiff Peter Schiff Says the 10-Year Treasury Will Top 5.5%, Mortgage Rates Will Pass 8% Peter Schiff is sounding the alarm on bonds again. The economist says the 10-year Treasury yield will soon break 5.5%, and if it does, mortgage rates will climb above 8%. The 10-year is already near 5.3%, its highest level since 2002. The 30-year Treasury has
housing Housing Supply Just Hit a 6-Year High — But Buyers Are Still Sitting Out Supply Is Flooding Back Housing supply just hit a 6-year high. The total number of homes for sale rose 3.9% from a month earlier to its highest level since 2020. Sellers are coming back. The mortgage-rate lock-in effect is fading, life circumstances are forcing moves, and
canada More Than Half of Canadian Parents Are Still Bankrolling Their Adult Kids The Bank of Mom and Dad Is Open More than half of Canadian parents are helping their adult children financially. An RBC survey of 1,000 Canadian parents with adult children aged 18 to 40 found that 51% provided financial assistance in the past year. The average tab was $6,
realtor.com Realtor.com doesn't expect housing affordability to improve due to undersupply in the market for a decade Per BI Realtor.com says that it doesn't expect housing affordability to improve. This was explained to be due to borrowing costs and home undersupply. These issues reportedly built up over the past decade, according to Danielle Hale from Realtor.com. The chief economist went on CNBC to
mortgage applications US mortgage applications fell for a fourth week, reaching the second-lowest level since 1995 Per Bloomberg Fewer Americans are applying for mortgages for the fourth week in a row as its levels reach the second-lowest since 1995. This came despite a recent 10 basis point decrease in 30-year-fixed mortgages. As seen on the Mortage Bankers Association index, it was revealed that
home Housing unaffordability is causing banks to lose money Due to the high housing prices, even banks are losing money on every mortgage they finance. On average, every mortgage that banks originated in 2022 costs the banks $301. A recent MBA report shared how the new losses represented a 113% decrease from how much a bank made last year.
congress Youngest Congress Member Aged 25 Says He was Rejected for an Apartment Because of Poor Credit History Per NYT The youngest member of Congress, 25-year-old Maxwell Frost says that he shares a problem a lot of other Gen Zers struggle with in this modern age. The representative-elect said that he struggles to rent an apartment and was even rejected due to his poor credit
