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Biden’s first-time homebuyer tax credit in the age of COVID-19

Housing Wire

economy into a recession and killed more than 208,000 Americans, the plan from the frontrunner in the presidential election is well-aimed to assist the only weak link in an otherwise booming the housing market: First-time buyers trying to scrape together a down payment. Now that the pandemic has plunged the U.S.

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How much will home prices climb over the next year?

Housing Wire

All year, the strength of homebuyer demand and the tight supply of homes for sale has meant that the market pretty rapidly found a floor on the home-price correction of 2022. The number of buyers has been surprising. The median price of the homes in contract is $385,000. There are now 376,000 single-family homes in contract.

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Home sales will be weak in 2024 regardless of “soft landing”: Fannie Mae

Housing Wire

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

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“It’s crazy”: Homebuilders big and small struggle to finish projects

Housing Wire

But homebuilders big and small continue to run into the same problems – building permits are on file, contracts with buyers are inked, but subcontractors often don’t show, and access to materials have led to longer build times and cost overruns. Housing starts are also looking up, rising 1.4% Currently, over 1.7

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Fed retreat from MBS market sparks short-term uncertainty

Housing Wire

The soaring federal deficit requires even more buyers of bonds, and some government bond sales may make it more difficult to issue MBS securities, unless with higher interest rates.”. Participants also generally agreed that the caps could be phased in over a period of three months or modestly longer if market conditions warrant.”.

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IS THE HOUSING MARKET HEADED FOR A CRASH?

Will Springer Realtor

Prices have soared in most areas – including a 30% jump in the past year for single-family homes in King County – amid a shortage of inventory and a sharp rise in the number of buyers. Is this the beginning of a housing bubble, 2021-style? “I Couple that with the return of international buyers – absent from the U.S.

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Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

To help the most vulnerable population, Tara Roche, research manager for the Pew Charitable Trust , said that HAF will be available to those who are using alternative financing, such as land contracts (agreements directly between sellers and buyers) and loans secured by manufactured homes. The program prevented $8.3

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