After the Great Recession, banks were required to hold a certain amount of capital to specifically cover mortgages. Banks backed away from mortgages as a result.
“At a certain point, we were like, ‘Well, if I were to buy the house, you'd live with me. If you were to buy the house, I would live with you. What if we just buy the house together?’” said Ashley Ayala, a new homeowner in Texas.
The U.S. is facing an affordable housing shortage. It’s also facing increased climate disaster. So how do we build resilient homes at scale? Here are a couple solutions.
While some buyers are benefiting from discounts, mortgage rates are still double what they were in 2021 and home prices are still high in parts of the country.
President Trump is rolling out plans to tackle housing affordability. Along with a series of policy proposals, he continues to pressure the Federal Reserve to cut interest rates.
In December, there were 47% more home sellers than home buyers across the U.S., according to data from Redfin. In Austin, Texas it was even more extreme, with sellers outnumbering buyers by 128%.
A new report from Zillow says lower mortgage rates, moderating home prices, and expected home growth could boost housing affordability in some metro areas this year.
