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For many people, the COVID-19 pandemic was an eye opener, she said: a shocking economic disruption that caused mass – if short-lived – unemployment, and prompted many local governments to ...
Believe it or not, there is a housing surplus—but not for people who can’t afford a home, study finds. Paolo Confino. June 26, 2024 at 5:03 PM.
The report found that "[O]ver half a million people go homeless on a single night in the United States" with approximately 65% or 350,000 people living in homeless shelters and 35% – just under 200,000 people – are unsheltered in the streets (living on sidewalks or in parks, cars, or abandoned buildings). [72]
But even at the top of her $550,000 budget, most of the homes she has found would require extensive repairs she can’t afford, including sinking foundations, damaged sewer lines, 20-year-old ...
No matter how lax lending standards got, no matter how many exotic mortgage products were created to shoehorn people into homes they couldn't possibly afford, no matter what the mortgage machine tried, the people just couldn't swing it. By late 2006, the average home cost nearly four times what the average family made.
A significant driver of economic growth during the Bush administration was home equity extraction, in essence borrowing against the value of the home to finance personal consumption. Free cash used by consumers from equity extraction doubled from $627 billion in 2001 to $1,428 billion in 2005 as the housing bubble built, a total of nearly $5 ...
In fact, 31% of Gen Z live with a parent or family member because they can't afford to rent or buy their own place, a new survey of 1,249 U.S. adults from Intuit Credit Karma finds.
Two-thirds of US adults own a home, a milestone that is still viewed as a key part of the American Dream. Yet, in 2024, buying a house often feels out of reach. Yet, in 2024, buying a house often ...