As Californians deal with rising rents and a housing shortage, one group of mobile home park residents in Fresno County secured affordable housing for themselves by purchasing the land from the park’s corporate landlord.
A report out Thursday from the real estate data firm ATTOM finds that a home, and all its related costs, now eat up about 34% of the average wage nationwide.
When people buy new homes, they buy a lot of other things too, like furniture, appliances and electronics. When home buying slows, that can have a real ripple effect on other industries.
The Biden administration is lowering rates on the mortgage insurance people have to pay when they take out a loan backed by the Federal Housing Administration.