Here’s How Many Affordable Homes Could Be Purchased For $238 Million–The Price of Most Expensive U.S. Home Ever Sold

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Hint: it’s every single affordable house on the market in Deltona, Fl, or half of all homes for sale in Akron, OH.   For the $238 million spent on the most expensive American home ever sold , approximately 1,100 affordable homes could have been purchased. The record-breaking sale was made by the founder of a global investment firm in January … Read More

Why Dense Housing is Green Housing

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Redfin’s chief economist argues that cities should encourage dense housing to reduce carbon emissions The way we tackle the housing affordability crisis will have a large impact on the environment. Currently, in the Los Angeles metro, a family earning the local median household income of $69,992 would have to live as far as 65 miles away in Palmdale , where … Read More

Rent Relief: Pros and Cons of a Housing Affordability Policy Proposed by Two 2020 Presidential Candidates

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In the first in a series of blog posts examining candidates’ housing policies, Redfin chief economist Daryl Fairweather breaks down rent relief, put forward by both Kamala Harris and Cory Booker What is rent relief? Two of the latest Democrats to announce they are running for president have advocated for rent relief. Kamala Harris and Cory Booker have both introduced … Read More

Redfin Survey: Homebuyers Face Rising Mortgage Rates Head On

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As expected , mortgage rates have crept up from below 4 percent in late 2017 to greater than 4.5 percent in June for an average 30-year fixed-rate mortgage. But few homebuyers are halting their searches. In May, Redfin commissioned a survey of more than 4,000 people who had bought or sold a home in the last year, attempted to do … Read More

Redfin Survey: 36% of Millennial Homebuyers Took a Second Job to Save for Down Payment; 10% Sold Cryptocurrency

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In March, Redfin commissioned a survey of 2,000 U.S. residents who planned to buy or sell a primary residence in the next 12 months. The purpose of the survey was to better understand the objectives, perspectives and concerns of those about to enter the real estate market. We focus this report on the more than 500 respondents between the ages … Read More

Migration Patterns Show More People Leaving Politically Blue Counties

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In the first half of 2017, more people moved from blue (Democratic) counties to red (Republican) counties than from red to blue counties, according to data on Redfin.com user searches. Counties were classified as “blue” if the Democratic candidate for 2016 won by more than 20 percentage points and vice versa for “red” counties.1 Overall, 7.4 percent more people moved … Read More

Priced Out: The Housing Affordability Gap in America’s Largest Metros

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Housing affordability is a growing problem for the middle class. As home prices across the nation’s 30 largest metro areas have increased by 26 percent since the market bottomed in 2012 and the median household income edged up just 1.6 percent nationally, housing affordability for the middle class has dwindled. In 2012, a family earning the area median income could … Read More

Solar Power is an Untapped Resource in These 10 Cities

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We all live under the same sun, but some places get a lot more sun-love than others. The Northeast region of the United States might seem like one of those places that is lacking in the sunlight department when compared to areas like the West Coast, but there is actually a lot of untapped solar potential in that part of … Read More