About 16.5 million households – or 38.7 million Americans – move annually. But Americans need to carefully screen those who help them move to make sure all goes smoothly in relocating their belongings.
U.S. News & World Report recently highlighted these three warning signs when choosing a moving company.
It’s getting easier to get approved for a mortgage. Fannie Mae has reduced the mandatory waiting period for a mortgage after bankruptcy, short sale, or pre-foreclosure. Borrowers no longer need to wait 4 years before re-applying to get a mortgage. Borrowers can now re-apply for a loan just 2 years after a bankruptcy, short sale or pre-foreclosure.
More millennials are finally leaving their parents’ homes to form their own households, but they may need financial help to do it.
A new report by consumer lender loanDepot shows that about two-thirds of parents – or 67 percent – will use savings to help their children buy a home. loanDepot surveyed 1,000 parents and 1,000 millennials (those between 18 and 38 years old) to find out about parents’ financial assistance in a home purchase.
One in three U.S. households say they plan to move in the next five years, according to a survey conducted by the Demand Institute of 10,000 households’ current living situations. And it’s the location of the home that will be driving most of those moving decisions — more so than the physical home itself.
Seventy-five percent of the households surveyed cited one or more location-related reasons for why they were moving. The top reasons were the desire for a safer neighborhood (30%); being closer to family (27%); a change of climate (26%); being closer to work (25%), and moving for a new job (23%).
Two recently released reports reveal that the American public is starting to feel much better about the U.S. economy.
As all consumers are feeling more optimistic, more young adults are moving out of their parents’ basements and into a residence of their own. The recent Census report shows that new household formations skyrocketed in 2014.
Millions of Americans who lost their homes during the foreclosure crisis are now poised to become homeowners again.
That’s according to a new report from RealtyTrac, which estimates that 7.3 million so-called “boomerang buyers” will return to the U.S. housing market over the next eight years.
Millennials deep down may be suburbanites after all. In recent years, economists and demographers have argued that members of Generation Y will have a longer love for city living in smaller living quarter than their predecessors. But a newly released survey by the National Association of Home Builders discounts that, suggesting that what millennials really want is a single-family home outside of the urban center – just like other generations.
Buying is still more affordable than renting in the majority of U.S. housing markets, according to a new analysis. A study conducted by RealtyTrac factored in 2015 fair market rental data recently released by the U.S. Department for Housing and Urban Development for three-bedroom properties in 543 counties nationwide with populations of at least 100,000. Buying a median-priced home was found to be more affordable than renting a three-bedroom property in 68 percent of the counties tracked.
Overall, in 473 of the counties tracked, the fair market rent for a three-bedroom property in 2015 will require 27 percent of median household income, on average. For comparison, buying a median-priced home will require an average of 25 percent of median household income, based on median sales prices in November, the study found.
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