Author: AdminPOM

Here’s Why Student Loan Debt No Longer Prevents You from Buying a Home

According to research by the Federal Bank Reserve of New York, student debt is one of the main reasons for the drop in homeownership in the U.S. amongst millennials. As of Q2 in 2017, student loan debt is $1.45 trillion compared to $549 billion in Q2 of 2007. In fact, student debt has tripled in little over 11 years. As well as the initial property expenditure, homebuying also leads to additional purchases such as furniture, repairs and gardening equipment. The study’s researchers believe that student debt accounts for up to 35% of the decline in homeownership amongst Americans aged...

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Millionaire Entrepreneur Says Not Owning a Home is the Biggest Mistake Millennials Can Make

It is easy to have a negative opinion of owning a home when you read about the travails faced by millions of Americans as they try to repay their mortgages. A study by Harvard University suggests that approximately 40 million Americans live in housing they are unable to afford. The existing state of affairs; where home ownership figures have dropped, and rental prices have increased, suggesting the problem is not going away anytime soon. The study relates to the ‘ideal scenario’ where you spend 30% of your income or less on housing. However, regardless of the apparent problems with...

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44% of Americans Have Home Buyer’s Remorse: Here’s how you can avoid it

Although the housing market has recovered to the point where it has now surpassed pre-crash levels, the rate of building has slowed down markedly. In 2016, the supply of homes fell 330,000 units short of demand. In May 2017, a report from the National Association of Homebuilders showed that home prices are an incredible 50 percent higher than what it deems the ‘normal’ level. The National Association of Realtors said that the median price for a new home was $252,800 in May 2017, an increase of almost 6% on 2016. As a result of rising prices, an increasing number...

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5 Reasons to Avoid Foreclosure Home Purchases & Choose a Move-In Ready Property Instead

There were 933,045 foreclosures in the United States in 2016, the lowest annual level since 2006. This figure represents approximately 0.7 percent of housing units in the nation. There is a multitude of bargain hunters who believe they are getting a great deal by purchasing one of these homes. After all, the bank is apparently desperate to sell, so it’s only natural that you’ll get a home for less than market value; right? Wrong! While a foreclosure home could represent a good investment for someone interested in becoming a property magnate, it is usually a poor decision for anyone...

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5 First Time Home Buyer Mistakes That Could Cost You Everything

You may finally feel that now is the time to step onto the property ladder but wait! You have to make sure that you’re 100% ready or risk losing it all later down the line. The good news is that the rate of foreclosures has dropped significantly. According to Business Insider, foreclosures were at their lowest rate in the 18-year history of the data in the second quarter of 2016. The bad news? There were still 83,000 foreclosures. Reasons for the drop include better interest, more competitive mortgages, bad loans from the previous crisis are out of the system...

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