Increasing college enrollment among younger adults ages 18 to 24 helps explain their raised preferences for not leaving parent homes. The majority of adults in this age group, 52 percent, attended school or college in 2012, compared to 45 percent in 2000 and 43 percent in 1990. College attendance ... » Learn More about The share of teenagers living with parents or parents-in-law increased dramatically in the late 2000s
Sales of existing homes sag to lowest since July 2012
Sales of formerly owned U.S. homes dropped in January to the lowest level in over a year as extreme winter weather combined with a shortage of supply, tight credit and decreasing affordability impacted demand. Purchases decreased 5.1 percent to a 4.62 million annual rate last month, the least since ... » Learn More about Sales of existing homes sag to lowest since July 2012
CFPB charged with ‘vague and uncertain’ rule-making
The head of a national business group is blasting the Consumer Financial Protection Bureau for going for what it calls "regulation by enforcement settlement" and the publication of guidance statements rather than writing clear regulations. In a letter to CFPB Director Richard Cordray, the U.S. ... » Learn More about CFPB charged with ‘vague and uncertain’ rule-making
Southland Home Sales Drop in January; Price Picture Mixed
Prices up, interest rates up... To purchase an average home in Los Angeles County, a buyer needs $96,000 in income to qualify for a standard 20% down purchase compared to $68,000 a year ago!!! Southern California logged its most competitive January home market in three years as buyers wrestled with ... » Learn More about Southland Home Sales Drop in January; Price Picture Mixed
Weakness in Real Estate Market Reflected in Mortgage Application Data
People restrained from getting mortgages in the past week. Applications to buy a home dropped 5 percent from the previous week, even after accounting for normal seasonal patterns. From the start of the year, these home purchase applications have been running around 10 to 15 percent below last year's ... » Learn More about Weakness in Real Estate Market Reflected in Mortgage Application Data