Paycheck-to-Paycheck Renters Struggle with High Costs
In Aug. the average renter of a $1,179 unit was paying 30.3% of their total income, or slightly above the percentage generally considered OK for “making ends meet.”
Most Lenders Will Now Consider On-Time Rent Payments
More mortgage applicants will find it easier to get approved now that Freddie Mac joined Fannie Mae in making on-time rent payments a lending consideration. But each system is a bit different. Freddie says it will provide incentives to multifamily owners that automatically report on-time payments.
Baby Boomer Challenge: Find a Home for Downsizing
The inventory for homes smaller than 1,400-square feet has hit a 50-year low – and it’s the same record-low inventory eyed by many first-time buyers.
Condo Q&A: What Are Florida Law Requirements for Reserves?
Also: Are email addresses confidential? A candidate running for the board asked current officers for a copy of every resident’s email address.
Crowdfunding RE Company Owner Sentenced for Mail Fraud
A Jacksonville-based firm connected investors with projects via crowdfunding, but a judge ruled it was fraud. The owner pleaded guilty and will serve 21 months in prison.
A Pandemic Side Effect: More Americans Like Their Commute
Survey: “Commute time to work” may be less important to urban buyers. After a year of working from home, slightly over half say they now see some benefits.