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Mortgage rates continue to climb beyond 7%

Housing Wire

However, persistently high mortgage rates pose a significant affordability challenge to buyers and sellers (not to mention the workers of a trillion dollar-plus industry). At today’s rate, the monthly cost to purchase a home totals about $2,400, not including property taxes and insurance, a 17% increase from a year ago.

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AN URGENT CALL FOR CHANGES TO ZONING LAWS

Will Springer Realtor

are 64% more expensive now than in 2016 and are reduced in number by more than half today: “I expect the inventory of starter homes to remain extremely tight, especially in desirable smaller markets,” Ali Wolf, chief economist at the building consultancy Zonda, told realtor.com. in 2010, the largest decline of any state. in September.

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IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

POTENTIAL TAX SAVINGS. Skyrocketing property values in our area have their downsides. Owners face higher annual property taxes, and many are reporting difficulty paying, particularly older residents on fixed incomes. The county’s Assessors Office issues its updated property assessments between now and November.

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

The rate today is the same as in the late 1960s, except during the housing bubble of 2008-2010 when ownership rose – and we know how that ended up! The multi-pronged effort includes legislative and administrative actions to increase the number of affordable units and overall inventory. New York City is No. 7471), with Birmingham, Ala.,

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

Kitsap County had the fewest number of units built per household formed between 2010 and 2020 (0.55). ” The increased number of listings and slight slow-down of the market have helped boost inventory numbers. Inventories rose in the past month across the county (0.8 with annual property taxes at, gulp! , $233,383!

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HOME BUYERS FACING ‘TRIPLE-WHAMMY’ EFFECT

Will Springer Realtor

People are looking at higher prices, there’s slim pickings in inventory and now we have higher mortgage rates.”. Among other bills in the works, as of this writing: House Bill 1908 relates to the conversion of surplus public property to affordable housing. between 2010 and 2020 to edge out Denver (22.9%) and Portland, Ore.

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