Hochul plans to bet big on ‘affordability’ in State of the State speech, but critics warn policies may hit NY pocketbooks
Gov. Kathy Hochul is betting big on “affordability,” even as critics worry that her policies will hurt New Yorkers' pockets. The governor's annual State of the State address on Tuesday included an increase in the child tax credit, subsidies to expand access to child care, free breakfast and lunch in schools, and distribution to households […]
Low-price home affordability increases as mortgage rates ease: Report
Lower mortgage rates have made cheaper starter homes more available, a trend further fueled by recent increases in household incomes. According to real estate firm Redfin, homebuyers now need to earn $77,000 to buy a home at or below the 35th percentile for home prices, a 0.4% decrease in the required income level from last […]
Car affordability concerns won’t go away anytime soon, new data shows
FOX Business' Jeff Flock reports on the latest news from the auto industry, where data reveals that insurance rates are skyrocketing year-over-year. The cost of owning a car in the U.S. has skyrocketed in recent years, and data suggests Americans are likely in for an even bigger shock. a Recent Reports Car shopping guide Edmunds […]
Trump Tackles the Harris Affordability Crisis
John Carney, economics editor at Breitbart News, said on Fox Business Network's “Kudlow” show Thursday that former President Donald Trump's speech to the Economic Club of New York laid out how to address the housing affordability crisis. “President Trump will speak today at the Economic Club of New York about the affordability crisis,” host Larry […]
More Americans leaving San Francisco, New York due to affordability concerns
See what’s clicking on FoxBusiness.com Population exodus from major cities in Democratic-run states continues. The report, compiled by Bank of America analysts and based on anonymized internal client data, found that more Americans are leaving predominantly Democratic cities such as San Francisco and New York. Many cities in the Northeast and West saw “significant population […]
Home prices reach record high as affordability crisis worsens
Home prices hit a record high in May as the housing shortage continues and high mortgage rates continue to put housing out of reach for millions of Americans. The S&P CoreLogic Case-Shiller index showed Tuesday that national inflation rose 5.9% year-over-year in May, down from 6.4% the previous month. On a monthly basis, prices rose […]
Housing affordability is getting worse in 2024 battleground states
David Bahnsen, founder and CIO of Bahnsen Group, is examining the real estate market as young homebuyers struggle with the ongoing housing crisis. The cost of buying a home has skyrocketed in recent years, with high mortgage rates and rising home prices putting homeownership out of reach for many Americans. The issue is even more […]
Housing affordability top concern for younger voters this presidential election: survey
Young Americans want to know how the next president will solve the problem of rising housing prices. (iStock) Rising home prices are the top concern for young Americans heading to the polls for the Nov. 5 presidential election, according to a recent Redfin survey. investigation. The survey found that about 91% of Gen Zers cited […]
Here’s where buyers have it the worst as home affordability tanks
Home affordability is at its lowest level since 2007, according to a new report from ATTOM Data Solutions. According to a report from a real estate data analytics company, costs associated with homeownership, such as mortgages, home insurance and property taxes, currently take up 35.1% of a homeowner’s take-home pay. This percentage is up from […]
US housing affordability might not improve without a recession: BofA
James Bullard, former president and CEO of the Federal Reserve Bank of St. Louis, looks ahead to the next interest rate decision, analyzes employment data and reacts to Yellen’s housing development policies. The home affordability crisis that has plagued the U.S. housing market for the past three years isn’t likely to improve until at least […]