REAL ESTATE - A NEW PATH TO HOME OWNERSHIP

REAL ESTATE - A NEW PATH TO HOME OWNERSHIP

Home Partners of America Creates New Homeownership Opportunities for Consumers While Creating New Business Opportunities for Agents.​

Not surprisingly, renting skyrocketed in the U.S. in the wake of the housing crisis—and whether it’s due to continued financial restrictions, misinformation about options or other reasons, a decade later, a large swath of the population is still choosing to rent.

However, many of today’s renters would likely opt for homeownership given the proper guidance and the right circumstances—and this is exactly where Home Partners of America comes in. Founded in 2012 with the ambitious yet simple mission to make homeownership a reality for more people, the Chicago-based firm offers a simple solution to put people on the path to buying a home.


Continue reading >



CashBuyersLists.com                   Please like, comment and share. Thank you.

Homeownership and Well-Being: A Complicated Relationship

Homeownership and Well-Being: A Complicated Relationship

RECBL - Real Estate News

Homeownership has come to represent security and wealth-the American Dream, realized, for millions who place their stake through property. There is evidence, even, that homeownership lends itself to overall satisfaction.

Financially, homeownership is also associated with well-being, according to a new report by the Consumer Financial Protection Bureau (CFPB). The CFPB defines "financial well-being" as "a state of being wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future and is able to make choices that allow them to enjoy life."

The first factor is key. The ability to afford a home affects sense of well-being, the report shows. The CFPB assigned respondents to a survey, on a scale of zero to 100, scores of well-being. In comparing homeowners and renters, homeowners averaged a 58, while renters averaged a 49. (As a whole, respondents to the survey averaged a 54.) Generally, Americans in good enough financial straits (in the context of income and savings) are in a position to purchase a home; the capacity to own, therefore, rather than ownership itself, is a predicator of well-being.

Affordability is also impactful in that those with a lower share of their income spent on housing have higher scores of well-being. Respondents paying more than 50 percent of their income on housing averaged a 46.5, roughly 10 points below the 56.51 of respondents who shell out 30 percent or less.

Respondents with "non-retirement investments" have higher scores of well-being, as well. (A house, often, is an appreciating asset, building wealth, as other investments do, over time.) Respondents with even one non-retirement investment averaged a 62, while those without averaged a 51. (Real estate, relatedly, has ranked as the No. 1 investment in several studies.)

"Housing satisfaction" is connected similarly. Respondents "very satisfied" with the place they live averaged a 60; those less than "very satisfied" averaged a 50. One distinction, however: The ability to improve level of satisfaction (buying in a more costly but safer neighborhood, for example) hinges on having the wherewithal to do so.

Financial well-being is also linked to homeownership in unanticipated ways. According to the report, age, education and physical health are the top three influences on financial well-being. Age has implications: Americans at a certain life stage, for instance, could be of the perception that "now" is the time to own a home. If they do not meet that expectation, their sense of well-being could suffer.

A cushion for emergencies, likewise, is related. Respondents with access to at least $2,000 for the unexpected (within 30 days) averaged a score of 62-leaps ahead of the 39 for those without. On the other side of the coin: Respondents who have experienced a "financial shock," such as a major home repair, averaged a 52, while those who have not averaged a 57.

"The strongest relationships to financial well-being appear to be related to savings and security nets," the report states. Homeownership, for most, is both-but its relationship to well-being? Its complicated.

Source: Consumer Financial Protection Bureau (CFPB)

CashBuyersLists.com                                 Please like, comment and share.  Thank you.

New Homeowner Statistics Unveiled

New Homeowner Statistics Unveiled

RECBL - Real Estate News

Owning a home is a key component of the "American Dream," as well as a primary driver of wealth creation for many Americans. However, the fruits of homeownership are not shared equally across demographic groups. A new report from Apartment List offers interesting insights.

After analyzing Census data from 1980 to 2015, looking at trends in owner and renter populations nationwide, broken down by race, education and income, Apartment List researchers found that white households have a significant advantage in achieving homeownership, and that this advantage persists regardless of education or income.


Some of the highlights of the latest Apartment List report include:

• Nationally, the homeownership rate for white households is 64.4 percent, compared to 32.7 percent for black households, 41.1 percent for Hispanic households, 54.0 percent for Asian households, and 45.8 percent for households classified as "other."

• Since 2000, the gap in homeownership rates has closed by 8 percent for Asian households, by 2.5 percent for Hispanic households and by 2.4 percent for households classified as "other." However, the gap for black households has widened by 3.9 percent.

• Prime working age households in the U.S. are 61.8 percent white, 13.1 percent black, 16.7 percent Hispanic, 5.7 percent Asian, and 2.7 percent "other."

• The nation is growing steadily more diverse, with the share of white households falling by 18.7 percent points since 1980.

• The Census Bureau projects that more than half of the American population will belong to a minority group by 2044.

• Nationally, Apartment List researchers found that homeownership rates for minorities with college degrees are lower than those for whites with only a high school diploma.

• Gaps in homeownership rates by race tend to be worst in metros in the Northeast and Midwest, with smaller gaps found in metros across the South and on both coasts, particularly in California, Texas, and Florida.

Overall, the data shows gaps have been narrowing over time, but gaps for black households have grown worse. And while more diverse metro regions tend to have smaller gaps in homeownership rates, many of these metros also have corresponding low overall rates of ownership.

CashBuyersLists.com                                                                              Please like, comment and share.  Thank you.

More homeowners cashing in on their new housing wealth

More homeowners cashing in on their new housing wealth

More homeowners cashing in on their new housing wealth
#realestate #cashbuyerslists #home #owner #cash #housing #wealth #piggy #bank #value #investment

Homeowners are opening their favorite piggy bank again — their homes. As home values rise faster than expected, that increased homeowner wealth suddenly seems more enticing. It's showing up in big remodeling growth and higher profits for retailers like Home Depot and Lowe's, but it also serves as a warning sign. Now, as millions of borrowers come up from underwater on their home loans and many more see their home values jump sizably on paper, borrowing more is back in favor.
Read More> http://bit.ly/RECBL-March7




CashBuyersLists.com                                                     Please Like, Comment and Share

Save Big on Energy Costs

Save Big on Energy Costs

Cash Buyers Lists How to Save Big on Energy Costs
#realestate #cashbuyerslists #energy #savemoney #home #homeownership #environment #gogreen

Those of us juggling mortgage payments, monthly phone and cable bills, and electric bills know the financial strain of homeownership. 
And while you may not be able to reduce that mortgage payment right now, you can certainly curtail your energy costs with a few tweaks. Here are 7 tips on how to save big on energy costs.
Read More> http://bit.ly/RECBL-March3

CashBuyersLists.com