Some CVAR markets are among the areas that saw the greatest wealth gains from homeownership between the fourth quarter of 2010 and the fourth quarter of 2020. A home often represents about 90% of the total wealth of a household. Homeownership often has long been pointed to as a way to build wealth over the […]
Most Popular Home in America
Today’s pragmatic homebuyers are not clamoring for luxury condos in the city, they want affordable, single-family homes, often in the suburbs. Yes, these surprisingly hot properties made up about 82% of homes purchased, according to the National Association of Realtors® (NAR) 2019 Home Buyers and Sellers Generational Trends Report. They tend to have three bedrooms […]
Mortgage Over Marriage
© Bank of America When asked about life priorities, millennials name homeownership as their second-highest goal behind retirement—and before marriage and having children, according to Bank of America’s 2018 Homebuyer Insight Report. Seventy-two percent of millennials say owning a home is their top priority, while 50 percent pointed to marriage and 44 percent to having […]
5 Reasons Why Millennial Homeownership Rate is Low
Millennials, born between 1981 and 1997, are less likely to get married than their parents and grandparents, and when they do, it’s often later in life. In 1960, the average age a couple first married was in their early 20s; today, the median age for a first marriage is closer to 30. Millennials are three […]
Housing Affordability Driving African-American Population
Forbes An estimated 6 million blacks headed north and west to cities such as New York, Los Angeles, Chicago and St. Louis in the early 20th century. But now the tide is reversing, with the African-American population dropping in the latter three over the past six years. In some cases it’s clear that blacks are […]
$100 C.A.R. Member Assessment to Fund Ballot Measure
In an effort to give real estate industry professionals power over their own destiny, C.A.R. voted at its fall meetings to fund a ballot initiative that will allow homeowners age 55 and older to transfer their property tax basis to any home in the state, to purchase any price home, and to transfer their basis […]
NAR, C.A.R. Oppose Congressional Proposal
C.A.R. and NAR are opposing the “Big Six” Congressional Tax Reform proposal that will soon be considered by Congress, because it removes incentives for homeownership from the tax code and raises taxes on middle-class homeowners. “These incentives are critical for a strong housing market that creates jobs and builds stable communities,” said the NAR in […]
Survey: Marriage Equality Has Opened Doors for Buyers
Since the Supreme Court ruled to make same-sex marriage legal in 2015, homeownership in the LGBT community has been on the rise, according to the National Association of Gay and Lesbian Real Estate Professionals’ 2017 Homeownership Survey. Of the more than 300 NAGLREP members surveyed, 47 percent say they believe more married same-sex couples are […]
Feb. 13 CVAR At A Glance
Featured Classes and Events Feb. 13 | CRMLS Training – CVAR East – Free Feb. 14 | zipForms® Mobile – Live Stream Feb. 15 | Understanding HERO Program Feb. 16 | Citrus Valley Caravan West – Real Estate Photography (See video above) Feb. 17 | Probate for Pros in Real Estate Click for more classes and events […]
Is This the New Normal for Homeownership?
The homeownership rate is on the decline again. The latest numbers reflecting the fourth quarter of 2016 show the homeownership rate fell from 63.8 percent a year earlier to 63.7 percent, the Census Bureau reported. While the drop may seem slight, it reflects an overall trend for homeownership in the country for the past few […]