When it comes to addressing the critical issue of affordable housing, both candidates, Tim Walz and JD Vance, have shown a commitment to tackling the problem. Walz, as the Governor of Minnesota, signed housing legislation that included significant funding for various housing-related initiatives such as down payment assistance, infrastructure improvements, and workforce housing. On the
Real Estate
In recent years, record inflation has led to a significant increase in home prices across the country, raising concerns about the long-term value of homeownership. As home values continue to climb, so do the costs associated with maintaining a property. According to a 2023 analysis by the Chamber of Commerce, more than 1 in 4
Recently, the average rate on the popular 30-year fixed mortgage experienced a significant drop, falling to 6.4%. This marks the lowest rate seen since April 2023. Additionally, the 15-year fixed rate also decreased to 5.89%, reaching its lowest level since early May 2023. These shifts were in response to a weaker-than-expected monthly employment report, which
Recent developments in the U.K. mortgage market have shown a positive trend as major high street lenders have started reducing their mortgage rates. This move comes after the Bank of England’s decision to cut interest rates for the first time in over four years, lowering its Bank Rate to 5% from its previous high of
Vice President Kamala Harris has made it clear that building up the middle class will be a crucial focus of her presidency. She believes that a strong middle class is essential for a strong America. During a political event in Atlanta, she reiterated her commitment to providing relief for families grappling with the high cost
Recent reports indicate a slight improvement in home affordability for buyers this summer. According to data from the Mortgage Bankers Association, the median new mortgage payment dropped to $2,167 in June, showing a 2.4% decline from the previous month. This improvement is attributed to declining mortgage rates, which have increased the purchasing power of homebuyers
The Federal Reserve is currently contemplating making its first interest rate cut in years this fall, which could potentially drive down mortgage rates. Even minor cuts in rates have the potential to significantly impact what homebuyers will end up paying. Prospective homebuyers have been eagerly anticipating the central bank’s decision to lower rates. While the
Homeowners across the country are facing a significant increase in their homeowners’ insurance premiums, with prices rising by an average of 21% between May 2022 and May 2023, according to Policygenius. Experts attribute this sharp spike in insurance costs to the rise in catastrophic severe weather events. As insurers grapple with higher costs due to
Living in a major city like Shanghai can come at a steep cost, with monthly rent in the city-center averaging around $2,700. However, according to Numbeo’s data, the real shock comes from cities like Hong Kong and Singapore, where the cost of living is even higher. A family of four in these cities can expect
With Vice President Kamala Harris on track to become the Democratic nominee for president, there is much speculation on how her policies will align with those of President Joe Biden, particularly in the realm of affordable housing. Harris has been a vocal advocate for affordable housing throughout her career, aiming to ensure that every American
