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First-Time Homebuyers Keep Getting Older

Median first-time homebuyer age is 38, an all-time high, up 3 years from 2023

(Newser) - The age of first-time homebuyers has shot up to an all-time high. A National Association of Realtors report says the median age in 2024 jumped to 38, up three years from 2023, reports Yahoo Finance . "The first-time homebuyer who can enter into today's market is older, has a...

SBA Out of Cash for Hurricane Victims, for Now

Congress would need to greenlight additional funding, though lawmakers are now out of town

(Newser) - The Small Business Administration has run out of money for the disaster assistance loans it offers small businesses, homeowners, and renters, delaying much-needed relief for people applying for aid in the wake of the destruction caused by hurricanes Helene and Milton. The SBA offers Economic Injury Disaster Loans to businesses...

You Can Soon Check for a Home's 'Climate Risk'

Zillow is introducing scores to its listings that show potential dangers from extreme weather

(Newser) - A swimming pool, eat-in kitchen, and central air aren't the only items on potential homebuyers' wish lists—now, many want to know if their future home is in hurricane, drought, or wildfire territory. In fact, a Zillow survey from last fall found that 80% of consumers shopping for homes...

Florida Homeowners Fear for Last-Chance Insurer

State-backed Citizens already was trying to shed policyholders, before recent hurricanes

(Newser) - After the latest hurricanes in Florida, homeowners are wondering where they'll turn for coverage if their insurer of last resort is no longer an option. Citizens Property Insurance Corp. is Florida's largest provider of home insurance, having 1.3 million policies on the books as of September. It'...

In Constantly Flooding Town, 'We Won't Rebuild, It's Not Worth It'

Locals in Florida's Shore Acres, in Tampa Bay area, are spooked by storms, high home insurance rates

(Newser) - Tens of thousands of properties in the Tampa Bay region were damaged or completely destroyed as Hurricane Helene tore through Florida's Gulf Coast, where some homes ended up submerged in several feet of water, reports WUSF . "It's overwhelming and it's devastating," Marie Rowley, who lives...

Owning vs. Renting? American Views May Be Shifting

Even millionaires who could afford to buy are opting to sign a lease instead

(Newser) - Soaring home prices have left many Americans of ordinary means out of the picture when it comes to real estate. But a Wall Street Journal story finds that more millionaires are choosing renting over owning as well:
  • The share of households with incomes above $750,000 that rent rose to
...

Number of Homeowners Without Insurance Is Rising

One estimate says the figure is 12%, more than double the rate in 2019

(Newser) - Millions of Americans find themselves in a once-unthinkable position: They're homeowners without home insurance. A look at the numbers and the factors at play:
  • On the rise: In 2022, 12% of homeowners had no insurance, up from 5% in 2019, reports the Washington Post , citing stats from the industry
...

Trend Shifts to Smaller, Cheaper Builds for New Homebuyers

Square footage of new builds dropped by 4% last year

(Newser) - First-time homebuyers are up against so many obstacles today—inflation, low inventory, and soaring interest rates—that the issue made it into the State of the Union . "I know the cost of housing is so important to you," President Biden said. "Inflation keeps coming down, and mortgage...

Single Ladies, Celebrate This Homeownership Feat

More single female Americans own homes than single men, per latest research

(Newser) - Women in the US still earn around 82 cents for every dollar earned by men, but when it comes to single ladies owning their own homes, they rule the roost over their single male counterparts. New LendingTree research that examined data from the Census Bureau found that women on their...

Town Decimated by Fire Has New Obstacle to Rebuild

Homeowners in California town of Paradise find home insurance premiums have skyrocketed

(Newser) - The soaring cost of home insurance has consumed the California town of Paradise, residents and officials say, just after the five-year anniversary of the Nov. 8, 2018, Camp Fire, the deadliest wildfire in California history. Residents have received annual premiums that are near or exceed $10,000—leaving many to...

Majority of Homebuyers OK With 'Haunted' House

Zillow survey finds 67% of potential homebuyers would buy one, if other factors fell into place

(Newser) - Would you buy a "haunted" house if you saw it pop up online ? In this challenging market, the majority of house-hunting Americans say yes, so long as the home was appealing in other important ways. Forbes reports that, per a new survey out from Zillow, 67% of potential...

The Era of the Smaller Home Is Upon Us

Square footage is dropping, as are accompanying home prices, as homebuilders try to attract buyers

(Newser) - With the cost of housing so high these days, it's no wonder that many have given up on the idea of homeownership, at least for the time being. Now, homebuilders appear to have hit on a solution of sorts, at least for those willing to embrace minimalism: erecting smaller...

Yet Another Insurer Ditches the Sunshine State

Farmers is dropping home, auto, and umbrella policies in Florida, citing 'risk exposure'

(Newser) - More homeowners in Florida received some bad news this week, with yet another insurance company pulling out of the state due to too much possible liability. The Miami Herald reports that Farmers Insurance will no longer be offering home, auto, or umbrella policies in the Sunshine State, the fourth carrier...

Looking to Buy a Home? Here's the Most Affordable US City
Short on Cash?
Buy a Home Here
May 23, 2023 1:40 PM CDT

Short on Cash? Buy a Home Here

Head to Montgomery, Alabama, for the most affordable abodes; avoid Santa Barbara, California

(Newser) - With soaring home prices and interest rates, it may not seem like the best time to plunk down a down payment on a new home. Some US cities, however, make that goal more attainable than others, and WalletHub sifted through the data to suss out the top contenders. The site...

'Stretched' Fire Crews Get Some Surprise Help

Homeowners are joining the fight, whether they're wanted or not

(Newser) - As wildfires rage throughout California turning forests and homes into kindling, some firefighters are badly short-staffed, and some residents are taking matters into their own hands, the AP reports. In the Santa Cruz mountains south of San Francisco, about 1,000 firefighters are battling a fire over 78 square miles—...

Booby Trap Kills Homeowner: Police
Booby Trap Kills
Homeowner: Police
Dec 1, 2019 2:50 PM CST

Booby Trap Kills Homeowner: Police

Ronald Cyr, 65, had fixed a handgun on the door

(Newser) - A Maine homeowner has died, apparently by his own hand—and by mistake. Van Buren police responded to a 911 call Thursday at the home of Ronald Cyr, 65, and found him in need of medical attention, WAGM reports. Seems he had fixed a handgun to fire on intruders at...

Family Told to Take Down Early Xmas Decorations

Neighbors put up theirs in solidarity

(Newser) - San Antonio mother Claudia Simonis is eight months pregnant—with a Dec. 25 due date—so the family decided to put out their Christmas decorations a little early this year. "I feel kind of heavy, so the earlier we can put out the decorations, the better. Because probably in...

Thinking of Buying a NZ Home? Not So Fast

Country just passed law barring foreigners from buying houses there

(Newser) - New Zealand home prices are among the highest in the world , and it's finally had enough. The country's plan to make the real estate market more affordable for locals: Bar foreigners from buying homes there (with very few exceptions) in an attempt to drive the housing supply up....

They Earn $12K a Year, Are on Path to Owning Their Home

Inside Detroit's Tiny Homes Project

(Newser) - Detroit is awash with abandoned homes, which left the Rev. Faith Fowler a bit on the defensive about why she built seven brand new ones. But there's something special about hers: They're tiny, and the first part of an envisioned tiny home village where low-income Detroiters can not...

Best, Worst Cities for First-Time Homebuyers

Texas is attractive. California, not so much

(Newser) - Prospective first-time homebuyers might want to cast an eye toward Texas and steer clear of California. WalletHub looked at a range of factors including affordability, quality of life, and a particular market's real estate ranking to find the best and worst cities for first-time buyers. The top 10:
  1. McKinney,
...

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