Category: fox-news/fox-news-us/fox-news-economy/fox-news-housing

Average cost of an American home in the decade you were born, from 1940s to present day

In this final part of a three-part series, take a look at the average cost of an American home from the 1940s spanning to the present day. Check out the major ups and downs of the housing market — and how inflation has impacted real estate for over 80 years. The historical Census and Federal Reserve Economic Data (FRED) have meticulously documented the ebbs and…

Americans staying put: Percentage that moved in 2023 hit a record low

The share of Americans that move every year has gradually been on the decline since the U.S. Census Bureau began tracking the data in the 1940s. However, after a surprise increase in the percentage who moved in 2022, a new analysis shows migration in the U.S. plummeted to an all-time low last year. Online moving services marketplace HireAHelper’s annual U.S. migration study found 7.8% of…

Housing crisis forces Americans to shack up with former partners

Americans are choosing to remain in a living situation with their exes amidst the ongoing housing crisis, a move that experts say may prove emotionally taxing despite the potential financial benefits. “High housing costs are causing more couples to cohabitate despite the fact the romantic flames of their marriage have been extinguished,” real estate broker Chuck Vander Stelt told Fox News Digital. “I have had…

Mortgage demand tumbles as interest rates rise to highest level since December

A key measure of home-purchase applications slumped last week amid a sharp increase in mortgage rates. The Mortgage Bankers Association’s (MBA) index of mortgage applications fell 2.3% for the week ended Feb. 9, compared with the previous week, according to new data published Wednesday.  The data also showed that the average rate on the popular 30-year loan rose to 6.87%. While that is down from…

Dozens of New York City employees arrested in bribery case that cost US taxpayers millions: prosecutors

Federal and local authorities arrested dozens of employees of New York City’s public housing agency in a series of morning raids Tuesday linked to a massive bribery and extortion plot, according to prosecutors. The raids, coordinated by Homeland Security Investigations and the city’s Department of Investigation, netted the most single-day bribery arrests in the history of the Justice Department, according to Damian Williams, the U.S….

Elon Musk weighs in on economic impacts of illegal immigration

Billionaire Elon Musk weighed in on the economic impacts of illegal immigration in a series of posts on social media as he criticized the Biden administration’s handling of the border crisis. Musk took to X, the social media platform formerly known as Twitter that he acquired and rebranded, to call out a variety of services and benefits that illegal immigrants have access to in the…

‘James Bond’ actor Sir Roger Moore’s former home on the market for $2.6 million

“James Bond” fans can now live like 007. Sir Roger Moore’s former home in Stinchcombe Hill, Gloucestershire, is on the market for $2.6 million. Known as Appleton House, the property sits on 2.82 acres and boasts six bedrooms and five bathrooms.  “The accommodation is arranged over two floors and benefits from both an imposing, formal layout ideal for entertaining, yet to the rear of the…

These are the best and worst places to buy a home in 2024

When it comes to buying a home, every individual, couple or family has a different set of factors that determine the kind of property they are looking for and the location they are going to find it.  A person in her 20s looking for her first home probably has a different set of wants and needs than an individual in his 60s in search of…

Mortgage rates climb, adding to affordability woes

Mortgage rates are up again after taking a slight dip last week, remaining in the mid-6% range.  Although rates have come down roughly a percentage point since October, they remain well above pandemic-era rates while home prices continue to climb, adding to the persistent affordability crisis in the housing market. Freddie Mac’s latest Primary Mortgage Market Survey released Thursday showed that the average rate for…

Major US cities create innovative solutions amidst continuing housing crisis

A Charlotte motel will soon become an apartment complex.  A Rodeway Inn in Charlotte’s northern part of town is currently in the closing process with a Washington-based developer, Sage Investments LLC. The developer plans to retrofit the motel into affordable housing for the area.  MORTGAGE DEMAND RISES AGAIN EVEN AS INTEREST RATES INCREASE The group has completed similar projects, retrofitting former motels into housing. Sage…

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