Wednesday, July 25, 2012
Friday, July 20, 2012
Wednesday, July 11, 2012
Friday, July 6, 2012
The American Dream is Alive, In Spirit
"Buying a home remains a problematic proposition fraught with underwriting road blocks and money down, but a housing crisis that has lingered for seven years hasn't put a damper on the desire to own a home.
Real estate valuation company Integra Realty Resources (IRR) found that even after home prices slid an average 54.2 percent during the housing downturn, three out of four Americans want to be a homeowner and consider it a major goal in life.
The study surveyed non-homeowners ages 22 to 50 in 11 major U.S. markets, and found that 75 percent of those surveyed reported that owning a home is important.
Virtually the same percentage of those planning to buy who are 30-years-old or older gave "I have always dreamed of owning my own home," as a reason to buy.
However, more than 60 percent don't plan to buy a home soon.
Particularly among younger households, consumers are significantly concerned about job security and their inability to save enough cash for a down payment.
The survey said 31 percent of respondents are not planning to buy a home because they lack a down payment. Down payment levels escalated after the market crashed and lenders became more stringent to reduce their risk.
"The down payment conundrum continues to suppress demand with no easy resolution in sight. For this reason and the continuing foreclosures is why the homeownership rate is decreasing. Some respondents feel that purchasing a home may be too risky in the near future," says Benjamin Loughry managing partner at IRR-Dallas/Fort Worth." [Read more]
Real estate valuation company Integra Realty Resources (IRR) found that even after home prices slid an average 54.2 percent during the housing downturn, three out of four Americans want to be a homeowner and consider it a major goal in life.
The study surveyed non-homeowners ages 22 to 50 in 11 major U.S. markets, and found that 75 percent of those surveyed reported that owning a home is important.
Virtually the same percentage of those planning to buy who are 30-years-old or older gave "I have always dreamed of owning my own home," as a reason to buy.
However, more than 60 percent don't plan to buy a home soon.
Particularly among younger households, consumers are significantly concerned about job security and their inability to save enough cash for a down payment.
The survey said 31 percent of respondents are not planning to buy a home because they lack a down payment. Down payment levels escalated after the market crashed and lenders became more stringent to reduce their risk.
"The down payment conundrum continues to suppress demand with no easy resolution in sight. For this reason and the continuing foreclosures is why the homeownership rate is decreasing. Some respondents feel that purchasing a home may be too risky in the near future," says Benjamin Loughry managing partner at IRR-Dallas/Fort Worth." [Read more]
Wednesday, July 4, 2012
Happy 4th of July!
From our family to yours we would like to wish you a very safe and fun 4th of July!
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