article thumbnail

Record Appreciation Is Sending Homeowner Wealth Soaring

Pro Builder

Middle-income homeowners have seen their properties appreciate by 68% since 2012, amounting to $122,100 in equity wealth, according to the National Association of Realtors. Similarly, low-income homeowners reported $98,900 in equity gains, and upper-income households accrued $150,800 in equity.

article thumbnail

California Could Cover 45% of a Home Purchase for Eligible Buyers

Pro Builder

California Could Cover 45% of a Home Purchase for Eligible Buyers. California Senate Democrats proposed a new program as part of its Build Back Boldly budget plan that would assist first-time homebuyers with purchasing by paying for—and owning—45% of the property. cbroderick. Fri, 06/11/2021 - 09:31.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Salary Needed to Afford a Home in the Top 15 Metros

Pro Builder

SmartAsset identified the salaries needed in the 15 largest metros to afford an average home payment and not exceed the recommended 36% debt-to-income ratio. The site compared median home values, property tax rates, down payment, homeowners insurance, and other debt payments to calculate these results. California is expensive.

article thumbnail

Cities Where Buyers Can Afford the Most and Least

Pro Builder

Nearly 67% of Americans are bunkered down by at least one non-mortgage debt. Data compared included median household income in each city, average non-mortgage debt, and median home values. Some big-city dwellers with debt may struggle to afford a home. Read More. . Housing Markets. Affordability. Housing Markets.

article thumbnail

California is Rolling in Dough

Buisness Facilities Contributed Content

We used to think it was only a matter of time before California sold off the Golden Gate Bridge, the Redwood Forest and other crown jewels to close a state deficit of more than $60 billion. California (along with Florida and Nevada) was hit harder than anywhere else in the U.S. What a difference three years makes.

article thumbnail

Household Energy Usage Increases Due to Pandemic, Energy Mortgages May Help

Pro Builder

Some local utility companies in states such as California, Michigan and New York have asked consumers to moderate electricity usage as a result of this increased demand. But energy or “green” mortgages could address the increase in energy usage while increasing a home’s value and affordability.

Green 52
article thumbnail

LOCATION FOCUS: California Dreamin’ – A Rebound Fueled By New Energy

Buisness Facilities Contributed Content

Last year, a State Budget Crisis Task Force headed by former Fed Chairman Paul Volcker estimated California’s long-term debt at a staggering $370 billion. After swallowing that gloomy news, Californians trudged to the polls in November and approved a referendum increasing their state income taxes by a whopping $6 billion a year.