housing market

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Mortgage Rates Highest in a Decade
Mortgage Rates
Highest in a Decade

Mortgage Rates Highest in a Decade

30-year is now 5.21%, and the effects on housing market already are surfacing

(Newser) - The news won't come as a shock to those currently in the market to buy a house and calculating their monthly expenses—mortgage rates have reached a 12-year high. CNN puts the rate on a 30-year fixed mortgage at 5.11% for the week ending Thursday, the highest since...

They Fled Afghanistan for US. Now They Can't Find Homes

Tens of thousands of Afghans who escaped Taliban now face housing problems in America

(Newser) - After fleeing her home in now-Taliban-controlled Afghanistan, Mozhgan Entazari did everything she could to find a new one for her family in the sunny, palm tree-lined communities of Southern California. The 34-year-old mother of two scoured options on Zillow with her husband, while the family lived at a hotel in...

Here Are the Most, Least Affordable Cities in America

San Diego pushes San Francisco out as the most expensive market

(Newser) - Move over, San Francisco—you can no longer claim the most expensive housing market in the nation. The San Francisco Chronicle reports the city has been "dethroned," by one a little further south, according to a recent report from real estate firm OJO Labs . The new most unaffordable...

Home Prices Rose All Over, but in 2 Regions Especially

National home price index jumped 18.8% in 2021

(Newser) - Last year was the best of times for homeowners and the worst of times for those aspiring to own homes, according to a leading measure of home prices in major US metropolitan areas. The S&P CoreLogic Case-Shiller National Home Price Index was up 18.8% for the year, the...

House Made of Shipping Containers Goes for Millions

The 6,000-square-foot Brooklyn home is actually pretty swanky

(Newser) - Housing prices have gone so crazy that a shipping container in Brooklyn is going for more than 5 million bucks. That's one take, anyway. Another take—it's a lot of shipping containers that make up a pretty cool house and, while hardly a steal, not tragically overpriced. After...

Feds Plan to Make 100K Affordable Homes Available

Biden 'knows we can't wait' to address housing crisis, White House says

(Newser) - The White House says it is taking immediate steps to boost the supply of affordable housing—it will make sure an estimated 100,000 units to be made available to homeowners and renters over the next three years will go to families and nonprofits, not the large investors who have...

'This Might Be the Most Competitive Housing Market' Ever

From Seattle to Wichita, homes are selling for well above list prices

(Newser) - The red-hot US housing market is widening the gap between what a home is objectively worth and what eager buyers are willing to pay for it. Fierce competition amid an ultra-low inventory of homes on the market is fueling bidding wars, prompting a growing share of would-be buyers to sweeten...

US Mortgage Rate Hits 'Tremendous Benchmark'

'It's also an indication that we remain in a crisis here,' says an economist at Zillow Group Inc

(Newser) - Looking to buy a house? The average 30-year fixed mortgage has sunk below 3% for the first time in Freddie Mac's long history of tracking America's most beloved home loan, the Wall Street Journal reports. It's a "tremendous benchmark," says a Zillow Group Inc economist...

Pending Home Sales Saw Record Rebound in May

'The outlook has significantly improved'

(Newser) - The number of Americans signing contracts to buy homes rebounded a record 44.3% in May after a record-breaking decline the previous month, as the impact of the coronavirus pandemic sidelined both buyers and sellers. The National Association of Realtors said Monday that its index of pending sales rose to...

Manhattan Home Prices Fall Under $1M—but Why?

A luxury-condo boom is only part of it

(Newser) - What a deal, folks: You can now buy a Manhattan home for less than $1 million. The city's median price for condos and co-ops in the fourth quarter slipped 5.8% from a year before and hit $999,000, the first sub-million mark since 2015—and those who sold...

Here, 6-Figure Salary Qualifies as 'Low Income'

Welcome to the Bay Area

(Newser) - From Miami to Detroit to San Antonio, an annual household income of $117,400 puts you firmly in the "high income" group. You'd even land in the upper middle class in New York City, per Business Insider . Not so in San Francisco. Further cementing the city's reputation...

Home Destroyed by Fire Could Be Yours for $800K

Welcome to San Jose

(Newser) - It's certainly not the prettiest house on the block. But a burned-out home on a 5,800-square-foot lot in Silicon Valley could be yours if you have $800,000 to spare and act fast. "This is what it's worth," realtor Holly Barr tells KTVU of the...

Want Fewer Neighbors? Try These Ghost Towns

Vacancy rates top 20%: 24/7 Wall St.

(Newser) - Not willing to spend up to 98% of your income on housing in states like California or Hawaii? A ghost town in desperate need of humanity might be the best affordable option. Based on vacant property rates per zip code, 24/7 Wall St. rounds up 30 ghost towns across the...

10 Least Affordable Housing Markets in US

You may need a golden ticket to live in many parts of the Golden State

(Newser) - California dreamin' may be just that, especially when it comes to being able to afford to live there. 24/7 Wall St. examined data from real estate company ATTOM Data Solutions—including wage info, monthly homeownership expenses, and median fair-market rent—to figure out which US counties offer the least affordable...

San Francisco's Priciest Mansion Just Isn't Selling
This Mansion Is Expensive
Even for Billionaires
in case you missed it

This Mansion Is Expensive Even for Billionaires

Italian-style villa in San Francisco has 8 marble fireplaces

(Newser) - Everybody knows it's expensive to live in San Francisco, but the cost of real estate may finally be too high for even its wealthiest residents. Business Insider reports on a mansion in Cow Hollow, a posh neighborhood on the edge of "Billionaire's Row," that's been...

5 Hottest US Housing Markets
5 Hottest US
Housing Markets

5 Hottest US Housing Markets

You go, Nashville

(Newser) - Seeking a place to call home that won't clean out your bank account—and might even go up in value? While cities like New York City and San Francisco are driving people away with exorbitant rents and mortgages, per CBS News , there are some cities where owning a home...

The Country's 10 Most Affordable Housing Markets

Tennessee, Michigan each hold 3 spots

(Newser) - 24/7 Wall St. looked at rental affordability and home buying affordability based on average area wages in order to come up with the 25 most affordable housing markets in the US. (Monthly house payments were based on a 3% down payment and included the mortgage, property tax, homeowner's...

Remember McMansions? They Were a Bad Investment

It's not just McMansions; luxury homes built earlier are also going for less

(Newser) - McMansions, defined loosely as mass-produced homes built between 2001 and 2007 weighing in at 3,000 to 5,000 square feet, have long been teased as shoddily built, poorly designed, and outrageously unsophisticated—the fast food version of luxury homes. (See the anonymous blog McMansion Hell for examples.) They...

5 Strongest and Weakest Housing Markets

Residents of Boulder, Colo., should be happy

(Newser) - Looking to invest in real estate? Be careful where you buy. Here are the five cities where house prices are growing and shrinking the fastest, based on average price changes for a single family home over 12 months ending this June, per 24/7 Wall St .: Growing:
  1. Boulder, Colo.: 18.5%
...

Home Too Toxic and Dilapidated to Enter Sells for $427K

Seattle housing market is going crazy

(Newser) - How crazy is the housing situation in one of the country's hottest markets? A dilapidated Seattle home described by the Seattle Times as a "Halloween haunted house" recently sold for more than twice its listing price despite partially collapsed ceilings, five feet of standing water, toxic air, hazardous...

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