Despite the decline in home prices, 81 percent of U.S. adults believe buying a home is the best long-term investment a person can make, according to a national survey by the Pew Research Center.
MAKING SENSE OF THE STORY;
Homeownership topped the list of long-term financial goals for Americans, according to the study. Respondents rated homeownership, as well as living comfortably in retirement, as more important than sending children to college or leaving offspring an inheritance.
“Owning a home is really a part of the American dream, and that is just part of the American psyche and something that people aspire to,” according to one of the study’s authors.
Read the full story http://www.latimes.com/business/la-fi-pew-homeownership-20110412,0,2943484.story
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Tags: "long-term financial goals", "The American Dream", el dorado county, homeownership, Placerville California, real estate activity, Real estate pricing, Sacramento, “Owning a home"
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It is more affordable to buy than to rent a two-bedroom home in 72 percent of America’s 50 largest cities, according to Trulia.com’s latest Rent vs. Buy Index. Meanwhile, a nation of renters has emerged as more Americans rent by choice or due to unforeseen financial difficulties. In contrast to this nationwide trend, renting is only less expensive than buying in four of the cities included in this study – namely New York, Seattle, Kansas City, and San Francisco. The remaining 10 cities are locations where buying still may be a financially sound long-term decision, despite the relative affordability of renting.
Cities overwhelmed by foreclosure filings and unemployment, including many cities in Florida, Arizona, Nevada and central California, typically correspond to more affordable markets for prospective buyers; however, there are exceptions. Oakland and Los Angeles, which are experiencing similar rates of unemployment or foreclosure filings as Phoenix, Miami, and Sacramento, still are more affordable to renters. Moreover, close proximity to economic centers with promising job growth projections has propped up both the demand for homes and costs of homeownership in Oakland and Los Angeles.
More information at: http://info.trulia.com/index.php?s=43&item=113
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Tags: economic recovery, el dorado county, First time home buyers, homeownership, interest rates, Placerville California, real estate loans, real estate recovery, sierra foothills
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Fannie Mae launched the first three in a series of “Five Step” guides, offering useful information for current homeowners, those interested in purchasing a home and homeowners who may be struggling with their current mortgage. Each guide focuses on a different topic and provides five specific tips.The first three guides released today provide tips on the following subjects:
- Actions to Take Before Buying a Home — As the housing downturn has shown, homeownership is about more than buying a home. It’s important to make sure you can keep your home over the long-term. Fannie Mae offers five steps to help those thinking about buying a home select the right house for them and understand the affordable financing options that can help make homeownership a long-term success.
- How Housing Counselors Can Help — Whether you’re thinking about buying a home or you’re a current homeowner, Fannie Mae highlights five key ways housing counselors can help make homeownership successful for you. Housing counselors offer professional advice, ensuring you can sustain your home purchase over the long term and providing guidance if unforeseen circumstances make it difficult for you to continue paying your mortgage.
- Protect Yourself from Mortgage Modification Scams — Mortgage modification scams can occur when unscrupulous people prey on borrowers who are struggling to keep their homes. While they promise to help, the people who perpetuate mortgage scams do little to no work, charge excessive fees, and use tactics that often put the homeowner at greater risk of losing their home. If you’re modifying your mortgage or facing foreclosure, Fannie Mae offers five keys ways to protect yourself from mortgage rescue scams.
The guides are available at http://www.fanniemae.com/kb/index?page=home&c=fivesteps. |
Tags: Fannie Mae, Financial Services, homeownership, Housing counselors
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