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 […]
Manhattan is now a ‘buyer’s market’ as home prices fall with more than 8,000 apartments still available
Manhattan is a “buyer’s market” as prices plummet and inventory rises to a 10-year high, according to a new report. The average price of an apartment fell 3.3 percent to $2 million in the second quarter, according to the research firm. Reports from real estate appraisal and consulting companies Douglas Elliman and Miller Samuel. The […]
Why the Mets just might be trade deadline buyers after all
If the Mets continue to perform well, general manager David Stearns could be a surprise buyer at the MLB trade deadline. Stearns wasn’t ready to commit to a buy or sell strategy on Friday ahead of a 31-day planning period, but he could “definitely” envision a scenario in which he would add players to help […]
Home prices hit new record in April as shortage deepening pain for would-be buyers
Home prices hit a new record in April. Housing shortageThis is despite rising mortgage rates putting home buying out of reach for more Americans. The S&P CoreLogic Case-Shiller index showed Tuesday that national inflation rose 6.3% year-over-year in April, down from 8.3% the previous month. On a monthly basis, prices rose 0.3%, according to the […]
San Francisco home hits market for $488K but buyers have to wait 30 years to move in
The move may take a while. A home in an upscale San Francisco neighborhood where properties typically sell for millions of dollars is on the market at a mind-blowing price, but potential buyers won’t be able to move in for nearly 30 years. The property, located two blocks from the city’s north shore, was listed […]
Mortgage rates drop for third week in a row, but home buyers remain reluctant
Mortgage rates may be falling, but buyers aren’t convinced now is the right time to buy. (iStock ) There’s good news and bad news about mortgage rates this week. The good news is that rates continue their gradual downward trend, with a 30-year fixed rate mortgage averaging 6.87%. Freddie Mac is. While this is encouraging, […]
White Sox will be MLB trade deadline gold mine for buyers
Even the worst teams can make the best sales. If the White Sox trade versatile center fielder Luis Robert (there’s a lot of controversy over whether he’ll be traded), the White Sox should win either way. With three years and $63 million remaining on his contract, assuming his two $20 million team options are exercised, […]
Prosecutors charge man with selling suicide drug after some buyers found dead
(The Center Square) A federal grand jury has indicted a Mexican man on drug charges for illegally importing the drug pentobarbital from Mexico into the United States with the intent of using it to commit suicide, after authorities found that in some cases people who bought the drug were already dead. Pentobarbital is a short-acting […]
Investors are snatching up 1 in 5 homes for sale in new hurdle for buyers
ResiClub co-founder and editor-in-chief Lance Lambert talks about the U.S. housing affordability crisis in “Making Money.” The astronomical rise has put homeownership out of reach for millions of Americans. mortgage interest rate Stock shortage continues. Now, there is another obstacle to buying a home. Investors and hedge funds are buying up real estate at the […]
Used car sales booming as holdout buyers return: Edmunds
FOX Business’ Jeff Flock reports that auto repair costs have increased 33% over the past four years. A new report from Edmunds finds that the used car market is revitalized, buoyed by price relief that kept consumers from buying in the past few years. Auto Shopping Guide released an analysis on Tuesday showing used cars […]