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First-Time Buyers Are Choosing Conventional Over FHA Financing

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First-Time Buyers Are Choosing Conventional Over FHA Financing. Just 24% of first-time buyers went with an FHA loan in January while 59% of first-time buyers obtained conventional financing, reports the National Association of Realtors. In 2020, 57% of first-time buyers chose conventional financing—a 5% jump from 2019.

Finance 100
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Homeownership Wealth Gains for Second Quarter of 2020

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Homeownership Wealth Gains for Second Quarter of 2020. Tue, 11/03/2020 - 09:42. Based on the 2019 Survey of Consumer Finance data, homeownership accounts for 90% of total wealth among all families. cbroderick.

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Property Taxes Made Up the Largest Share of State and Local Tax Receipts in 2021

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of state and local tax receipts from the fourth quarter of 2020 to the final quarter of 2021 for a whopping $672.5 The ratio of property tax revenue to total tax revenue (which also includes individual income taxes, corporate income taxes, and sales tax) dropped slightly from its pre-pandemic average of 37%. Financials.

Income 52
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Property Tax Collections Remained Stable in 2021

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of state and local tax receipts, followed by individual income taxes, sales taxes, and corporate taxes at 30.5%, 27.1%, and 6.2%, respectively. Year-over-year growth of four-quarter property tax revenue has decelerated over the past two quarters after accelerating each quarter from Q3 2020 to Q2 2021. Housing Policy + Finance.

Income 52
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Homeowners in These States Paid the Highest Property Taxes in 2021

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of state and local tax receipts in 2020 due to a broad decline in income tax revenue as a result of the pandemic, property taxes made up 36.2% Other factors are clearly at play, and state and local government financing turns out to be a major one. While the Northeast is home to the highest property taxes in the U.S., Financials.

Texas 96
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Rapidly Rising Student Debt Keeps Millions from Homeownership

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Student loan payments are holding many Americans back from becoming homeowners by keeping their debt-to-income ratios high. As a result, homeownership rates among 28 to 34 year olds are dwindling, decreasing from 60% in 2007 to 49% in 2020, according to Zillow. Over the course of 13 years, college tuition increased 81.9%. Read More.

Debt 59
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Looking at Affordability Through a New Lens

Pro Builder

Affordability indexes may take mortgage rates, income, and home prices into account, but it’s missing an important piece of the puzzle. Bill McBride, author of the finance and economics blog Calculated Risk, says future return is an important piece of data to factor into affordability. Looking at Affordability Through a New Lens.

Income 52