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New York City Renters Face $1 Billion in Unpaid Rent

Pro Builder

New York City Renters Face $1 Billion in Unpaid Rent. A recent survey found New York City renters owe $1 billion in unpaid rent, but the survey only accounts for roughly half of the total rentals, pushing the real debt closer to $2 billion. billion in pandemic rental assistance for New York state.

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How Down Payment Loans Affect the Housing Market

Pro Builder

How Down Payment Loans Affect the Housing Market. As financial standards for loans are getting tighter, potential homebuyers are losing out to all-cash offers or higher down payments from other buyers in an ultracompetitive housing market. New-Home Marketing. Housing Markets. Fri, 10/15/2021 - 09:43.

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Housing Survived the Pandemic—Could There be Another Looming Crisis?

Pro Builder

Housing Survived the Pandemic—Could There be Another Looming Crisis? When a crisis appeared on the horizon, housing continually bounced back, but there’s another problem getting closer: a lack of affordable housing. On one end, buyers are rushing to purchase while the other half struggles with debt and may lose their homes.

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Are Starter Homes a Thing of the Past?

Pro Builder

The rising costs of land, materials, and fees are making it nearly impossible to build affordable housing for first-time buyers. According to the New York Times, as recently as 25 years ago, builders were able to sell newly built houses of 1,400 square feet with two to three bedrooms for $125,000 or less. Housing Markets.

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Housing Outlook: Is This a Recession … or Not?

Pro Builder

Housing Outlook: Is This a Recession … or Not? The current housing slowdown is a reality, but determining whether we’re in a recession right now isn’t so clear. After a two-year period of frenetic activity spurred by low mortgage rates and rising home prices, the housing industry has its finger on the reset button. “I

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Housing Supply Falls to New Low While Prices Hit New High

Pro Builder

Housing Supply Falls to New Low While Prices Hit New High. For the third time in four months, the national median home price hit a new all-time high. 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. cbroderick.

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Cities Where Buyers Can Afford the Most and Least

Pro Builder

Housing affordability continues to be an issue for many Americans. 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.