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First-Time Buyers Are Choosing Conventional Over FHA Financing

Pro Builder

First-Time Buyers Are Choosing Conventional Over FHA Financing. Just 24% of first-time buyers went with an FHA loan in January while 59% of first-time buyers obtained conventional financing, reports the National Association of Realtors. In 2020, 57% of first-time buyers chose conventional financing—a 5% jump from 2019.

Finance 100
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Homeownership Wealth Gains for Second Quarter of 2020

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Homeownership Wealth Gains for Second Quarter of 2020. Tue, 11/03/2020 - 09:42. Based on the 2019 Survey of Consumer Finance data, homeownership accounts for 90% of total wealth among all families. cbroderick.

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Property Taxes Made Up the Largest Share of State and Local Tax Receipts in 2021

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of state and local tax receipts from the fourth quarter of 2020 to the final quarter of 2021 for a whopping $672.5 The ratio of property tax revenue to total tax revenue (which also includes individual income taxes, corporate income taxes, and sales tax) dropped slightly from its pre-pandemic average of 37%. Financials.

Income 52
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Property Tax Collections Remained Stable in 2021

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of state and local tax receipts, followed by individual income taxes, sales taxes, and corporate taxes at 30.5%, 27.1%, and 6.2%, respectively. Year-over-year growth of four-quarter property tax revenue has decelerated over the past two quarters after accelerating each quarter from Q3 2020 to Q2 2021. Housing Policy + Finance.

Income 52
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Homeowners in These States Paid the Highest Property Taxes in 2021

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of state and local tax receipts in 2020 due to a broad decline in income tax revenue as a result of the pandemic, property taxes made up 36.2% Other factors are clearly at play, and state and local government financing turns out to be a major one. While the Northeast is home to the highest property taxes in the U.S., Financials.

Texas 96
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Rapidly Rising Student Debt Keeps Millions from Homeownership

Pro Builder

Student loan payments are holding many Americans back from becoming homeowners by keeping their debt-to-income ratios high. As a result, homeownership rates among 28 to 34 year olds are dwindling, decreasing from 60% in 2007 to 49% in 2020, according to Zillow. Over the course of 13 years, college tuition increased 81.9%. Read More.

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These Cities Are Becoming More Affordable for Renters

Pro Builder

Mon, 11/16/2020 - 10:37. More than 40% of renters pay more than a third of their income on housing costs, meaning affordability typically affects renters more than it would homeowners, according to Smart Asset. Between 2016 and 2019, rent as a percentage of income fell by almost 8%. cbroderick. Housing Markets. Affordability.