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Salary Needed to Afford a Home in the Top 15 Metros

Pro Builder

Salary Needed to Afford a Home in the Top 15 Metros. 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 metro where residents need to make the most and least are San Jose, Calif. cbroderick. and Philadelphia.

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Record Appreciation Is Sending Homeowner Wealth Soaring

Pro Builder

As a result, more households were able to pay off their debts or refinance their mortgages, leaving homeowners with a net worth roughly 40 times higher than that of a renter. Owners who live in pricey metro areas have seen some of the largest wealth gains over the last decade, according to NAR’s report.

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Subbies left unpaid by developer Empire Property Concepts

Construction Enquirer

An update from administrator Opus Restructuring Llp has revealed the scale of debts left by the failure of the firm in April. Empire Property Concepts Ltd changed its name to MCIOD Limited days before Metro Bank called in the administrators.

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Could Gen Z Be the Dark Horse in a Recovering Real Estate Market?

Pro Builder

metros in 2021, their time is coming soon, Insider reports. Older members of the generation are more likely to have student debt than millennials did at their age, which could severely limit their housing options. And yet the road to homeownership isn't that simple for many Gen Zers.

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Housing Supply Falls to New Low While Prices Hit New High

Pro Builder

Home sales also increased in 67 of the 85 largest metro areas in July, but some states, such as New York, are seeing dramatic drops in home sales. The housing market was incredibly robust going into the pandemic with household debt at its lowest level in 40 years. Bridgeport, Conn., and Fort Lauderdale, Fla.

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Single-Family Rent Growth Backed by Over $50 Billion in Capital

Pro Builder

metros report double-digit price growth. Since some of this is only the equity investment and excludes the debt (and we know of far more than this that is not public info), we believe the number of homes that could be built and/or purchased far exceeds this. Single-Family Rent Growth Backed by Over $50 Billion in Capital.

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Increasing Home Values Lift 1 Million Homes from 'Underwater' Status

Pro Builder

There remain pockets of the country where housing debt-traps are widespread. The major metro areas with the highest share of underwater mortgages include Baton Rouge (which topped the list at 12.7%) and New Orleans in Louisiana, and Toledo and Youngstown in Ohio.

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