Housing affordability

The move comes after the e-commerce giant has provided some $1.7 billion to create or preserve affordable rental units as part of a $2 billion initiative launched two years ago. 

The long climb in mortgage rates has also kept an additional $200 billion in equity out of the hands of borrowers, and the economy at-large, the firm said.

The decision highlighted conflicts between insurance providers and detractors, with supporters of alternative products underscoring it had no effect on the services they offer, while a major industry trade group critical of the program lauded the outcome.

Active listings fell in July on an annual basis, while median home prices also showed signs of a downward trend, according to new data from Realtor.com.

Values are very likely to dip in the metros considered among the most desirable during the pandemic.

In the Pacific region and Mountain states recorded real estate value drops compared to last year, the Federal Housing Finance Agency found.

The nearly 8% growth on a seasonally adjusted annualized basis is well above the historical average, according to the government-sponsored enterprise.

More than one-third of average wages is now needed for borrowers to make regular payments on the typical home, according to Attom. Meanwhile, the Mortgage Bankers Association found monthly costs rose 14% annually.

Millions of would-be borrowers are reportedly "doubling up" by sharing homes with nonrelatives, Zillow found.

We have the tools to address our housing challenges through a mix of regulatory reforms, policy changes, incentives and investment. What's needed is the will and leadership to put those tools to work.

But scarce housing inventory has helped to bring home equity values back upward, offsetting some of the losses of late 2022.

Home purchasers had to come up with 0.9% more in April versus what they would have paid in March and 11.8% higher on a year-over-year basis, the Mortgage Bankers Association said.

Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.

Fannie Mae researchers found housing costs decelerating for the fourth straight quarter, but limited inventory may be driving hopeful buyers to look for opportunities in the new-construction market.

Recent efforts to open up homeownership opportunities include a proposed $100 million down-payment-assistance initiative within the Biden Administration's 2024 federal budget request.

Almost twice as many homes on sale in February saw a reduction in housing costs compared to a year ago, as elevated interest rates limit how much buyers can afford.

The share of women property holders fell four percentage points from the prior year, according to Zillow

Buyer affordability has decreased by almost 22% in the past year, according to the Mortgage Bankers Association.

The total price of U.S. homes was $45.3 trillion at the end of 2022, down from a record high of $47.7 trillion in June, according to Redfin's report.

Average housing costs have surged over 40% since 2019, outpacing 15% in wage increases, the National Association of Realtors said.