Housing

The Mortgage Bankers Association reports the average monthly payment on a new mortgage in July was $1,844, down $49 from June, as mortgage rates and loan amounts edged lower.

The city is doubling the amount of low-interest loans that first-time homeowners can qualify for in its Home Purchase Assistance Program, but analysts say that only addresses part of the problem.

Trade groups say the industry is in recession, but prices are still high and foreclosures are low.

Higher home prices and the Federal Reserve’s efforts to curb inflation are responsible for much of the slowing market.

Putting rental units on the market isn’t easy, though.

The housing market is cooling a little. But there still aren’t that many homes for sale, just more than last year.

At the University of Utah, students can live with alumni. One California school is using a parking garage as a stopgap.

“The long-term goal has to just be structurally changing this untenable housing system that we have,” said Carl Gershenson, the project director at Princeton University’s Eviction Lab.

In some markets, sellers can no longer bet on multiple offers and quick deals, and buyers can afford to be pickier.

Lori and Bruce Howard recently cashed in on tourist lodging they built together near Yosemite National Park.