The younger crowd may be skittish about moving into the housing market due to sparse financial resources and lack of credit. But it’s a different story for Americans age 55 and over. Those who can are jumping into homebuying — selling their existing houses to move into new ones aimed at their age group. Many
2014’s New Home Market Is ‘Running in Place’
Sales of new single-family homes clung to their same bumpy path again last month, unexpectedly slipping to their weakest annual pace since March, the Census Bureau said Monday. Neither markedly stronger nor dramatically weaker, sales over the past 10 months haven’t moved much. “The new-home sales figures by now have that lived-in feeling, with few
Home builders’ confidence surges thanks to better jobs market
Home builders’ confidence in the housing market surged in July, thanks in part to robust jobs growth in June. The National Association of Home Builders/Wells Fargo Housing Market Index gained four points in July, hitting 53. That’s the first time it’s cleared 50 — the dividing line between good sales conditions for new single-family homes
A new path for Atlanta’s suburbs
In Sandy Springs, the next wave of building demolitions are set to begin this weekend in an aging commercial district on Roswell Road, clearing the way for a new city center. In Alpharetta, developers such as North American Properties and Selig Enterprises Inc. are considering ideas for a downtown development that could bring new restaurants
Housing market strong in Forsyth County
Residential real estate in Forsyth County is booming as the fringe of metro Atlanta pushes up Georgia 400. “We used to be really far out. Now we’re not considered that far out. It’s such a highly desirable place to be right now,” said Tara Locke, Keller Williams real estate agent and Forsyth County resident. “In
Fed: Banks easing lending standards
The home mortgage market improved last quarter as demand increased and many banks eased their lending standards for the most creditworthy borrowers, the Federal Reserve said Monday. Banks also loosened lending criteria for a variety of other consumer and business loans as the economy improved and demand picked up. “The July survey results showed a
What do FICO Changes Mean for Consumers?
There are changes coming to FICO, a broadly used credit score, that may mean higher credit scores for many consumers. Banks, credit card issuers, auto lenders and other businesses use those scores to decide whether to lend to consumers and how much interest to charge them. A higher score could get you better terms on
What Happens if Millennials Never Enter the Housing Market?
Millennials’ supposed lack of interest of becoming homeowners is often blamed for the market’s slowing recovery, but some experts say the generation shouldn’t shoulder all of the fault. Anthony Hsieh, founder and CEO of mortgage company loanDepot, says lack of innovation and too tight regulations are draining the housing market’s revival. “Private capital is not
Home-Price Growth is Cooling, But Lackluster Wage Growth May Hold Back Sales
The once blistering growth in home prices is starting to slow down, but a new report from Trulia shows that home and rentals prices still outpace wage growth substantially, holding back many Americans. “There are still big barriers to homeownership,” says Trulia Chief Economist Jed Kolko. “Average wages per worker rose less than 1% in