Shutdown Stalling Rural Mortgages
The USDA backs about 120,000 mortgages a year, or about 3.5 percent of purchase mortgage originations nationally.
Policy & Industry
Missing Data Accompanying Missed Paychecks as Government Shutdown Continues
The Census Bureau was scheduled to publish monthly new construction permits and starts data for December this morning, but the release was delayed because of the federal government shutdown. The delay comes at a critical moment for the American economy, amidst growing uncertainty about the underlying health of the housing market – and each missing or delayed data point adds to that uncertainty for buyers, sellers, developers, investors and local governments.
L.A. County Teachers Typically Spend Half Pre-Tax Salaries on Rent or Mortgages
Teachers in Los Angeles County typically need to spend about half their pre-tax salaries on rent or mortgage payments to afford a median-priced home or rental.
Unpaid Federal Workers Owe $438 Million in Mortgage and Rent Payments This Month
The federal government shutdown also affects thousands of potential home buyers trying to secure loans, especially those with the least means.
December Fed Rate Hike: Recalibrating Expectations
The U.S. Federal Reserve raised its benchmark interest rate by a quarter-point, to a target range of 2.25 percent to 2.5 percent.
Homelessness Rises Faster Where Rent Exceeds a Third of Income
Income growth has not kept pace with rents, leading to an affordability crunch with cascading effects that, for people on the bottom economic rung, increases the risk of homelessness.
Property Tax Exemptions Saved Californians $30 Billion in 2018
Working with reporters at CALmatters – a nonpartisan and nonprofit journalism venture based in Sacramento – Zillow estimated the current gap between what Californians pay in property taxes and what they would owe if property taxes were based on current market values.
As California Debates Rent Control, More Supply Is Contributing to a Slowdown in Rents
Beyond ongoing rent control debates, the undercurrents of the California rental market are shifting on their own in response to fundamental market forces.
Long-Time Homeowners in Pricey Places Benefit Most from Potential Changes to Capital Gains Taxes
Long-time homeowners in pricey communities where home sales more commonly net very large capital gains would be the primary potential beneficiaries of this change.
Housing Market Showing Few Ill Effects from Tax Reform
Of the handful of housing-specific changes made in 2017 as part of tax reform efforts, just one – capping the SALT deduction – has had an impact on housing.
