Daily Real Estate News | Monday, December 07, 2015 National Association of Realtors
In a big win for real estate, Congress last week approved a $305 billion transportation bill that includes no funding from an extension of mortgage guarantee fees as some lawmakers had proposed.
The bill provides reauthorization of several initiatives that the National Association of REALTORS® supports, including programs to increase transportation safety and develop more pedestrian-friendly communities. But the big victory for real estate was that the bill excluded so-called g-fees to pay for transportation programs.
More than a fifth of REALTORS® across the country, or about 197,000 members, participated in a Call for Action that NAR launched in October to prevent Congress from using g-fees at the expense of future home owners. Some 600,000 letters in all were sent in what was REALTORS®’ most forceful response to a Call for Action. President Obama signed the bill on Friday.
FHA Lowers Its Harangued Mortgage Costs
The Federal Housing Administration is reducing its annual mortgage insurance premiums by 0.5 percentage points in a move "to expand responsible lending to creditworthy borrowers," the White House said in a statement Wednesday afternoon.
• Homeownership is an investment in your future.
• There’s a reason homeownership is called the American Dream. Home is where we make memories, build our futures, and feel comfortable and secure.
• Homeownership strengthens communities. Homeowners are more likely to be involved and engaged in local issues and move less frequently than renters. This helps prevent crime, improve childhood education and support neighborhood upkeep.
- Are you tired of throwing away money each month for rent?
- Do you know that buying a home can be easier than you think?
Where do I start?
Many people think that they are forever stuck renting and they will never be able to buy a home. Find a REALTOR® to help you with the process. There are many simple remedies to credit issues, down payments, financing, etc. Utilize the information presented the Consumers services section in helping you to start the process. Let our REALTOR® members help you find the American Dream of homeownership.
Posted in Economic Updates, by Danielle Hale, Director of Housing Statistics for NAR on September 8, 2014
In the past 15 years, the net worth of the typical homeowner has ranged between 31 and 46 times that of the net worth of the typical renter.
Homeowner equity is a substantial component of homeowner wealth. The Federal Reserve’s Survey of Consumer Finances, conducted once every three years, provides a snapshot of family income and net worth along with basic demographic details and more detailed information on where families keep the wealth they have accumulated.
The most recent survey, conducted in 2013, offers a picture of the situation as home and equity prices normalized for most household balance sheets.
Data shows that median homeowners had nearly $200,000 in net worth or 36 times that of the median renter who had just over $5,000. The median value of owners’ homes was $170,000. Many households own a primary residence (65.2 percent).
It is the most commonly held non-financial assets after vehicles (86.3 percent).