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5 SURPRISING MISSTEPS THAT SABOTAGE MORTGAGE-SEEKERS

Source: AOL Real Estate

Common credit mistakes could complicate the mortgage process for potential home buyers. Consequently, knowing ahead of time what one shouldn’t do can make all the difference in ensuring that a buyer does not jeopardize the loan approval process. For example, applying for credit during the loan process is a red flag.

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Signs of a Suburban Comeback

The land of lawns and malls has experienced two years of solid growth, as more Americans are moving again to suburbs. Many of the nation’s fast-growing cities are slowing down, while suburbs and areas beyond suburbs are seeing an uptick in growth after expanding more slowly during the recession and its aftermath.
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Fees Jump

For many buyers seeking a mortgage backed by the Federal Housing Administration, homeownership may no longer be attainable with increases in mortgage insurance fees, especially at a time when housing affordability remains a challenge for many Americans. The new FHA fees can tack on a couple hundred extra dollars every month, which experts argue has contributed to the decline in first-time buyers.
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3 MILLION YOUNG PEOPLE MISSING FROM HOUSING MARKET? IT’S EVERYONE’S PROBLEM

Source: NPR

The rate of homeownership for young adults has declined in the past decade from 43.6 percent to just over 36 percent today. Additionally, it is estimated that there are about 3 million missing young people from the market because they are living at home with their parents rather than buying or renting a place to live. Delayed marriage rates also make it difficult for young Americans with one income to purchase a home.

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Are Student Loans Really Killing the Housing Market?

Source: The Atlantic

Derek Thompson of the Atlantic points out that student debt is destroying demand among first-time buyers, but it’s not affecting their share of the market. Examining the statistics, he argues, “First-time home buyers make up a historically normal share of new homeowner families, but a historically small share of new home buyers, because a big slice of the housing market is owned by big institutional investors who aren’t living in the homes they buy.” He concludes that student loans are indeed depressing demand for homes, but only slightly more than the overall market for homes is already depressed.
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