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Biden Announces Housing Supply Action Plan to Boost Inventory Nationwide

Pro Builder

Biden Announces Housing Supply Action Plan to Boost Inventory Nationwide. Though likely to make a substantial difference in low-income neighborhoods with a shortage of affordable housing, the plan isn’t geared toward first-time buyers, who account for the majority of all home purchases and keep housing demand high across the U.S.

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Mortgage Banks Reported Negative Profits for the First Time Ever in 2022

Pro Builder

The 2022 deficit represents a 113% decrease from the previous year's average income of $2,339 per mortgage. Read more Financing Affordability Market Data + Trends Financing The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan."

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How Employer-Assisted Housing Programs Are Paving a Path to Homeownership

Pro Builder

The rate of homeownership fell to just 38% for first-time buyers in 2021 as a result of record high housing costs, record low inventory, and stagnant wage growth across the U.S. Housing Policy + Finance. Housing Policy + Finance. Employer-assisted housing (EAH) programs offer incentives for employees making home purchases.

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Home Prices Increase 17.2%—Is the Housing Market in a Bubble?

Pro Builder

Bubbles are driven by irrational behaviors driving up prices, yet the housing market’s price acceleration can be pinpointed to low inventory. Another way to look at this is through the lens of household finances. Debt as a percentage of personal income has dropped to 85.3% Housing stock remains at a record low with just 2.1

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Why Builders Wait to See Lower Lumber Prices

Pro Builder

NAHB Policy Brief | Lumber prices have moderated, but lower costs haven't worked their way to builders; New home prices too expensive for lower-income households. This phenomenon is largely a result of dealers’ inventory carrying costs and potentially significant differences between the price at which inventory is bought and sold.

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Zillow Predicts Affordability Issues for Renters by End of 2021

Pro Builder

If current rent and income growth trends continue, Zillow says some of the most affordable metros will become the least affordable and many renters will become newly housing-cost burdened by the end of the year. The threshold for which a resident is deemed “housing-cost burdened” is if they pay more than 30% of their monthly income.

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Why Elevated Mortgage Rates Could Be the Housing Market’s Biggest Threat Yet

Pro Builder

The current rate of home price growth isn't sustainable: Simple economics dictates it can't outpace income growth forever. Everyone should embrace higher rates to cool off this madness, and hope inventory rises," Mohtashami tells Fortune. Housing Policy + Finance. Affordability. Market Data + Trends. Market Data + Trends.

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