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Salary Needed to Afford a Home in the Top 15 Metros

Pro Builder

Salary Needed to Afford a Home in the Top 15 Metros. Housing costs are the biggest expense Americans have, with about one-third of the average American salary going toward these. SmartAsset identified the salaries needed in the 15 largest metros to afford an average home payment and not exceed the recommended 36% debt-to-income ratio.

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Record Appreciation Is Sending Homeowner Wealth Soaring

Pro Builder

As a result, more households were able to pay off their debts or refinance their mortgages, leaving homeowners with a net worth roughly 40 times higher than that of a renter. Owners who live in pricey metro areas have seen some of the largest wealth gains over the last decade, according to NAR’s report.

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Subbies left unpaid by developer Empire Property Concepts

Construction Enquirer

An update from administrator Opus Restructuring Llp has revealed the scale of debts left by the failure of the firm in April. Empire Property Concepts Ltd changed its name to MCIOD Limited days before Metro Bank called in the administrators. It adds that Empire is a trading name of Empire Properties Concepts Limited.

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Housing Supply Falls to New Low While Prices Hit New High

Pro Builder

Housing Supply Falls to New Low While Prices Hit New High. Home sales also increased in 67 of the 85 largest metro areas in July, but some states, such as New York, are seeing dramatic drops in home sales. The housing market was incredibly robust going into the pandemic with household debt at its lowest level in 40 years.

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Is the Housing Market on a Sugar High?

Pro Builder

Is the Housing Market on a Sugar High? Much has been made about consumers desiring to leave the crowded metros during the pandemic for less crowds and more space in the suburbs and beyond. To a large extent, the bumper demand for housing is an indication that Americans are aiming to make up for lost time.

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Could Gen Z Be the Dark Horse in a Recovering Real Estate Market?

Pro Builder

metros in 2021, their time is coming soon, Insider reports. Aging Gen-Zers are entering the housing market with gusto, but when beginning their housing searches, many are finding a series of obstacles to homeownership exacerbated by a turbulent economy and the many inherent disadvantages that come with being a first-time buyer.

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Single-Family Rent Growth Backed by Over $50 Billion in Capital

Pro Builder

metros report double-digit price growth. Single-family rental homes and build-for-rent units appeal to investors looking for an inflation hedge with less volatility in the event of a housing boom or bust. Housing Policy + Finance. Housing Policy + Finance. Single-Family Rent Growth Backed by Over $50 Billion in Capital.

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