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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.

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Homeownership Wealth Gains for Second Quarter of 2020

Pro Builder

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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Housing and the 2020 Presidential Election

Pro Builder

Housing and the 2020 Presidential Election. Mon, 10/05/2020 - 23:10. Housing issues are in play in the race for the presidency in the 2020 election, and home builders are paying attention. It's Time for Congress to Act on Finance Reform. billion, or 15% below enacted 2020 levels. John Caulfield, Senior Editor.

Housing 105
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Property Taxes Made Up the Largest Share of State and Local Tax Receipts in 2021

Pro Builder

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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How Many New Homes Will it Take to Fix the Housing Shortage?

Pro Builder

According to Freddie Mac, in 2020, the country was short 3.8 While lowering housing costs through zoning reforms may help first-time homebuyers and lower-income renters,” the economists wrote, “it comes at the expense of — and thus will likely generate substantial political opposition from — current homeowners.”. million homes.

Housing 96