homeownership: Low housing inventory raises concerns
- 08/23/22 02:02 PM
The Inflation Reduction Act (H.R. 5376), introduced by Senators Chuck Schumer, (D-NY) and Joe Manchin (D-WV) was passed by both houses of Congress and signed by President Biden on August 16. It became a compromise for the much larger Build Back Better plan, which was introduced to assist in fighting inflation, increased climate/global warming, and certain medical cost issues. One of the key issues was having all corporations pay a minimum of 15% income tax. This is good news for homeowners who might have previously been concerned about additional income taxes or possibly the loss or change in our interest deduction … (2 comments)
homeownership: All Things Real Estate: Is the American Dream of homeownership fleeting?
- 03/04/22 05:07 PM
Now that the moratorium and forbearance programs on foreclosures, short sales, and rentals are over, what will the market look like this year? Currently, there are over 14,000 foreclosures on Long Island. No one can determine how many will be able to stay in their homes, which have built up excellent equity compared with the 2008 market when most were underwater on their mortgages. Today when selling one has a greater opportunity with the huge buyer demand and still low-interest rates to walk away with money and keep their credit in good standing. But will the market continue or slow down? … (3 comments)
homeownership: 2 out of 3 are homeowners in the U.S.
- 01/17/22 07:03 PM
The percentage of historical homeownership rates has risen from 47.80 percent back in 1890 to 65.4 percent by 7/1/21, according to statistics found in a digitized Census Bureau report from the 1970s from The University of Minnesota as well as the Census Bureau at the St. Louis Fed’s economic indicator database. During and after World War II, the U.S. economy was on fire and with all the new jobs being created many more were able to enter the market to purchase a home. This continued through the Sixties as we were the major dominant car, equipment and goods manufacturer of the world. … (1 comments)
homeownership: Has the heated real estate market left you behind?
- 12/01/21 08:19 AM
The obviously insane increases observed in real estate prices and values lately from 17.4 percent on average across the U.S. in 2021 led the Case-Shiller Report to calculate a year-over-year rise of 19.7% in July, while CoreLogic showed 18 percent and FHFA 19.2 percent. The major reason has been a total lack of sufficient inventory. This is basic high school education of supply vs. demand economics. Low supply, higher than normal demand and historically low interest rates are allowing so many more buyers to enter the market, causing these major increases in home prices. Most important is the lack of sufficient … (1 comments)
homeownership: Realtor can be many things
- 03/01/21 03:26 PM
All Things Real Estate By Philip A Raices - March 1, 20210 22 Who will you be hiring when selling, investing, purchasing, renting, or leasing your residential or commercial real estate, a salesperson or a consultant, or both? Hopefully, you will find a professional who is a hybrid and represents a combination of both types. Everyone who is selling needs a salesperson to seek out the most serious, motivated, qualified income and the creditworthy purchaser who will fall in love with your home, right? But at the same time has the savoir-faire and astute knowledge to be a professional consultant by asking probing … (0 comments)
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The Inflation Reduction Act (H.R. 5376), introduced by Senators Chuck Schumer, (D-NY) and Joe Manchin (D-WV) was passed by both houses of Congress and signed by President Biden on August 16. It became a compromise for the much larger Build Back Better plan, which was introduced to assist in fighting inflation, increased climate/global warming, and certain medical cost issues. One of the key issues was having all corporations pay a minimum of 15% income tax. This is good news for homeowners who might have previously been concerned about additional income taxes or possibly the loss or change in our interest deduction … (2 comments)
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