Rental Affordability Is Worst in Minority Communities

Build RealtyMarket News

Housing has become less affordable for all renters since 2011 as rent appreciation greatly outpaced income growth. But for renters living in predominately black or Hispanic neighborhoods, the situation is decidedly worse. New data shows that, on average, residents of predominantly white neighborhoods spend 30.7 percent of their income on rent, in line with the generally accepted standard of 30 … Read More

Economic Sweet Spots for Tech, Finance and Health Care Workers

Build RealtyMarket News

With Silicon Valley workers living in vans and RVs and interns squatting in corporate offices , it’s clear that even a tech salary does not shield some workers from the vagaries of sky-high housing costs. The good news is, there are tech jobs outside the Bay Area — and, in some places, workers have thousands of dollars left over each month after paying … Read More

Have U.S. Cities Reached Peak Parking?

Build RealtyMarket News

Key Findings Construction of residential parking spaces peaked in 2012. Builders will provide more housing and less parking across the U.S. next year as more cities start letting developers decide how much parking to build. Still Lots of Parking, But Dropping Fast Less parking will be built for 2017’s new homes than was built for this year’s new homes. This … Read More

The Inequality of Energy Costs: California Homeowners Get a Break

Build RealtyMarket News

Energy costs are an important factor to consider when choosing a home to buy or rent, yet they’re rarely included among statistics reflecting housing affordability. And given their seasonal fluctuations in many areas, they can be tricky to budget for. But they’re worth paying more attention to. Here’s why: Energy costs can add more than 50 percent to annual housing … Read More

Working-Class Homeownership: Still Possible in Many Big U.S. Cities

Build RealtyMarket News

Homebuyers in cities across the U.S. are saying affordability is their biggest concern as home prices rise and inventory shrinks. But there is some good news for working-class homebuyers. Across 40 large U.S. cities, 55 percent of homes for sale last month were affordable for a working-class household and still between two and four bedrooms in size. Homes of this … Read More

RV Living in the City: Dodging the Rental Affordability Crisis

Build RealtyHome Improvement

[youtube https://www.youtube.com/watch?v=4NrHT2MgCGU?feature=oembed&w=500&h=281] No one has to tell Ellen Sims that Seattle rents aren’t affordable. The massage therapist and nonprofit executive knows firsthand that for many people, it’s impossible to pay rent here and get ahead. That’s why she extracted herself from the rent race a year ago, plunking $2,000 down on a recreational vehicle that now costs her a manageable … Read More

High Rent Looms Large for Would-Be Homebuyers

Build RealtyMarket News

The cost of rent is pushing more people into the housing market, according to a Redfin survey of homebuyers. More than one in five cited high rent as their top reason for house hunting in November, up from only 13 percent in our previous survey in July. It’s no surprise, given that rents have been rising rapidly while wages haven’t. … Read More

Want to Help the Middle Class? More Houses, Please

Build RealtyMarket News

Housing is in short supply; even in 2015, a boom year, housing starts were only 1.1 million. America’s future is happening first here, in Seattle. Just this year, Seattle technology jobs increased 21 percent. Housing prices rose 12 percent. And all the people who built this city out of coffee, lumber and airplanes have struggled to keep up. Only a … Read More

An Attorney, a Janitor and a Mail Carrier Walk into a Bar – Where Are They?

Build RealtyMarket News

Not all posh neighborhoods are exclusive. Sure, some are so upscale that the mail carrier is the only working-class person you’ll see. Others are wholly affordable. More rare is a third kind of place, where swanky homes share the curb with starter condos. We think these places are important because they bring people of different incomes closer together — as … Read More

Where Firefighters and Teachers Can Afford to Buy Homes

Build RealtyHome Improvement

If you’re a firefighter, the best place for home shopping is Riverside, CA, where you’ll make a median annual income of $107,000. That’s about $78,000 more per year than the average worker there, according to Zillow’s new affordability analysis . Residents of Riverside typically spend about 26 percent of their income on housing, which allows firefighters to afford a home … Read More