Home ownership too costly for many Americans: study
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Home ownership will remain out of reach for millions of Americans, despite slumping house prices, unless low-income wages grow faster, according to a national housing study released Monday.
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Some aggressive ways to buy a house can burn you later.
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Monterey County wages lag far behind rental costs that help make California the most expensive housing market in the nation, according to a study released Monday.
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More than 30 percent of U.S. homeowners who bought in the last two years owe more on their mortgage than their house is currently worth, a housing market research company said on Tuesday.
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"House Lust: America's Obsession With Our Homes" (Currency, 272 pages, $24.95), by Daniel McGinn: Despite the nation's housing slump, Americans love homes.
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Minority homeowners are especially being hurt as rising interest rates make subprime loans even more expensive.
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Americans are taking substantially less equity out of the value of their homes than a year ago, a sign consumer spending may be set to recede, data compiled by a Federal Reserve economist suggest.
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The housing slowdown has caused Americans to miss more payments on home loans, though more appear to be paying their credit card bills on time.
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The estimated $2 trillion to $4 trillion loss in real estate wealth could be more damaging to the public than falling stock values since more Americans own homes than own stock.
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Homeowners have had to cut spending on holidays and other luxuries because of the rise in interest rates., research suggests.
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It's hardest to buy a home in these 10 places, where owning property is out of reach for most of the population.
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The number of Americans facing the loss of their homes soared 75% last year, according to a report.
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Homeowners across America were more likely to report declines in their home values than at any time since 1992, according to the The Reuters/University of Michigan Surveys of Consumers for August released on Friday.
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The Bush Administration's mortgage rate freeze sounds like a life raft for strapped homeowners, but it may do more harm than good
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For most people, a home is the most expensive purchase they will ever make. Figuring out how much they should spend can be overwhelming.
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It's expensive, but not as expensive as living without income.
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The threat of higher interest rates is putting off some potential first-time home-buyers, a survey suggests.