In 2022, more homeowners fought rising inflation by tapping into home equity. In two years, equity lines of credit originations rose 41% as equity loans rose 166%.
NAHB’s Aug. index fell 6 points to 50 – the break-even point between optimism and pessimism – based on higher mortgage rates and increased construction costs.
A comparison of teacher salaries to home values within 20 minutes of work found a high of 18% affordable in Fort Lauderdale and Jacksonville but only 4% in Miami.
UBS will pay $1.44B to settle claims it gave mortgage borrowers false and misleading statements in 2006-2007, the last big bank case from the housing crisis era.
The Realtors Relief Foundation, a 501(c)(3) non-profit, says the money will “assist with disaster victims’ housing payments as relief and recovery efforts continue.”
The Florida Office of Insurance Regulation says changes passed by the Fla. Legislature have attracted new insurers and removed 280K policies from Fla.-owned Citizens.
NAHB’s 2Q comparison of selling prices ($388,000, nationally) to median incomes ($96,300) found only 40.5% of U.S. residents can afford a home at that price.
Texas had 3 cities in the top 10, but Jacksonville hit No. 9 with its “bounty of BBQ restaurants.” It beat out Tampa (No. 15), Orlando (No. 17) and Miami (No. 47).
It’s not just the house: Some neighborhoods offer more opportunities. In Fla., the home price difference between high- and low-opportunity areas runs as high as 64%.
New buyers often ask similar questions, and an AI virtual assistant – not unlike ones used by some companies in online “Chats” – are handling the more basic queries.
