Currently Browsing: Housing 
Since the Great Recession, Americans have exhibited caution and restraint when it comes to purchasing a home. This is especially true of first time home buyers, who are trying to get their foot into the door when it comes to the real estate market. However, with property prices on the rise, one has to wonder if first time home buyers will simply have it tough. Read on to find out who prospective first time home buyers in the United States are and what...
When the Great Recession hit in 2008, many homeowners lost their properties in foreclosures. A few years later, young working professionals and families looking to buy homes found that housing prices had gone up. Purchasing a home was no longer affordable, nor was it financially advisable for thousands of people. Fortunately, by then there were alternatives to the traditional one-family home. Enter condominiums, an option for prospective buyers who...
A mortgage is a type of loan used to pay for property, such as a single-family home, condominium, or townhome. There are several main types of mortgages, one of which is called a fixed-rate mortgage (FRM). Fixed-rate mortgages are those where the interest rate on the amount borrowed stays the same for the duration of the loan, which last up to 50 years. The person borrowing money benefits from this consistency, as monthly payments are fixed for the...
When it comes to buying a home, there are two main types of mortgages out there for prospective buyers: fixed- and adjustable-rate. Fixed-rate mortgages, as the name suggests, involve paying an interest rate that remains stable for the duration or term of the loan. On the other hand, in an adjustable rate mortgage, the interest rate changes according to market fluctuations. Adjustable rate mortgages are also known as variable- or floating-rate mortgages....
In the United States, the mortgage and housing industry was partly responsible for tipping the economy into the Great Recession. Since then, the terms “renting” and “downsizing” have taken on new meaning, with more and more people deciding against the risk of taking out a mortgage to purchase their own home. And while most Americans still do aspire to buy their own home at some point, that home is likely to be smaller than the...
Townhomes are half-way between condominiums and single-family, detached homes, including a row of houses that share walls on either side. The owner of each home owns the land, including both a front yard and backyard space, which may include a deck or patio and is often enclosed by a fence. While townhome owners may technically be called home owners, they often pay Home Owners Association (HOA) fees to cover maintenance costs and use of common areas,...
First Time Homebuyers
Since the Great Recession, Americans have exhibited caution and restraint when it comes to purchasing a home. This is especially true of first time home buyers, who are trying to get their foot into the door when it comes to the real estate market. However, with property prices on the rise, one has to wonder if first time home buyers will simply have it tough. Read on to find out who prospective first time home buyers in the United States are and what...Condos
When the Great Recession hit in 2008, many homeowners lost their properties in foreclosures. A few years later, young working professionals and families looking to buy homes found that housing prices had gone up. Purchasing a home was no longer affordable, nor was it financially advisable for thousands of people. Fortunately, by then there were alternatives to the traditional one-family home. Enter condominiums, an option for prospective buyers who...Fixed Mortgages
A mortgage is a type of loan used to pay for property, such as a single-family home, condominium, or townhome. There are several main types of mortgages, one of which is called a fixed-rate mortgage (FRM). Fixed-rate mortgages are those where the interest rate on the amount borrowed stays the same for the duration of the loan, which last up to 50 years. The person borrowing money benefits from this consistency, as monthly payments are fixed for the...Adjustable-rate Mortgages
When it comes to buying a home, there are two main types of mortgages out there for prospective buyers: fixed- and adjustable-rate. Fixed-rate mortgages, as the name suggests, involve paying an interest rate that remains stable for the duration or term of the loan. On the other hand, in an adjustable rate mortgage, the interest rate changes according to market fluctuations. Adjustable rate mortgages are also known as variable- or floating-rate mortgages....Renting Your Home
In the United States, the mortgage and housing industry was partly responsible for tipping the economy into the Great Recession. Since then, the terms “renting” and “downsizing” have taken on new meaning, with more and more people deciding against the risk of taking out a mortgage to purchase their own home. And while most Americans still do aspire to buy their own home at some point, that home is likely to be smaller than the...Townhouses
Townhomes are half-way between condominiums and single-family, detached homes, including a row of houses that share walls on either side. The owner of each home owns the land, including both a front yard and backyard space, which may include a deck or patio and is often enclosed by a fence. While townhome owners may technically be called home owners, they often pay Home Owners Association (HOA) fees to cover maintenance costs and use of common areas,...The Future of Housing
The Millennial generation will change the housing market in the United States in the coming years. Millennials will soon account for the largest percentage of first time home buyers, seeking properties including apartments, condominiums, and townhomes over traditional single-family homes. As Millennials are less likely to purchase homes with the goal of staying for years to come, they may also be more likely to opt for adjustable-rate mortgages over fixed-rate mortgages.