Homebuying dreams can become real for shoppers in unmarried but committed relationships. According to Jessica Lautz, the National Association of REALTORS®’s director of survey research and communication, a report from NAR found that the highest share of first-time buyers who are unmarried couples was in 2017—the highest on record since 1981. Of course, there are significant risks when buying a home with an unmarried partner. But there are
Some places in the U.S. offer better odds of singles breaking out of renting and into homeownership. Nearly 83 percent of renters say they have a desire to buy a home, according to polls by the National Association of REALTORS®. But the reality is that many can’t afford to with rising home prices and mortgage rates. For singles, the move to homeownership can especially be tough.SmartAsset, a personal finance website, analyzed cities to find wh
The U.S. and Britain have issued a warning about Russian cyberattacks that could extend to individual homes. The warning was the first of its kind, The New York Times reports. The warning extends to possible cyberattacks to government and private organizations in both countries as well.The countries are asking the public to upgrade passwords and computer security to make themselves less vulnerable.Ciaran Martin, chief executive of Britain’s N
Residents in neighborhoods with high levels of limited English proficiency have significantly lower rates of homeownership. On the other hand, neighborhoods with fewer LEP residents have higher rates of ownership, according to a new study by the Urban Institute.“We are not sure why and how limited English proficiency interferes with homeownership, but this research establishes that it is a barrier on top of other, more researched barriers,”
Even though the costs of homeownership are on the rise as home prices and mortgage rates increase, more consumers say it’s a good time to buy a home. AJ Smith, vice president of financial education with personal finance website SmartAsset, offers three tips for helping buyers determine whether now is the right time for them to purchase. ‘Right now’ is not always the right time: Prospective buyers may feel pressure to buy a home before i
Women who work full-time jobs in Arlington, Va., rank among the top female earners in the nation, bringing in an average of more than $80,200 per year, according to a new analysis by personal finance website SmartAsset. “Today, in some American cities, women are earning large salaries, running their own businesses, and handling their mortgages with ease,” the analysis notes.SmartAsset pinpointed the U.S. cities where women are finding the mos
Housing construction has not kept pace with population growth in the U.S. for more than a decade, and in order to stymie shortages across the nation, builders will need to construct 7.3 million more homes, according to a new report. The Up for Growth National Coalition, a group of real estate developers, owners, and builders of affordable housing, finds that since 2000, builders in about 22 states and the District of Columbia have not constructed
Fear of missing out—or FOMO, as millennials have coined it—has become a powerful motivator for young buyers to pursue homeownership, according to a new Bank of America survey. In particular, social media platforms such as Facebook and Instagram, where users often post about their lives as homeowners, are big influencers on prospective buyers, the survey of 2,000 U.S. adults finds. “I think it’s motivating them to think about homeownershi
The three major credit reporting agencies are implementing policy changes for credit scoring that could lift the scores of some consumers. Equifax, Experian, and TransUnion will now exclude exclude all tax lien data from credit reports, which could raise some credit scores as much as 30 points, CNBC reports.The agencies began this process last summer, removing nearly 100 percent of data on civil judgments and 50 percent of data on tax liens from
A man in Whitehouse, Texas, was arrested last week on charges of stalking a female real estate professional. The agent filed a police report, claiming that Danny Shane Lafaitt, 44, had been repeatedly making inappropriate contact with her. Lafaitt was charged with third-degree stalking and is being held on a $300,000 bond.According to the police report, Lafaitt first came to the agent’s office to inquire about listings, but the agent said she
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