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Furthermore, the average monthly inventory of homes for sale in Silicon Valley increased 15% from 2017 to 2018. [3] Real estate agents report an increasing number of middle-aged and elderly residents selling their homes and moving to more affordable locations, and although this has not made the housing market "affordable", it is causing changes.
Several federal and state initiatives have targeted this problem, but have failed to provide enough affordable, inclusive, and sustainable housing for New York City residents. The demand for affordable housing in New York City remains high: 2.5 million applications were submitted for 2,600 available affordable apartments in 2016. [63]
The definition of affordable housing may change depending on the country and context. For example, in Australia, the National Affordable Housing Summit Group developed their definition of affordable housing as housing that is "...reasonably adequate in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other ...
They’re still looking for a home in Bakersfield, California, in particular, where the average home value is $340,427 versus, let’s say San Fernando, where the average home value is $685,439 ...
The rate on the popular U.S. 30-year fixed-rate mortgage will average around 6.0% next year and help to boost new housing construction and stimulate demand for previously owned… NBC Universal 15 ...
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