Author: RT

Yearly Earnings Required to Afford a Median-Priced Home in 27 of the Largest Metropolitan Areas

HSH.com’s latest salary analysis reveals the yearly earnings required to afford a median-priced home in 27 of the largest metropolitan areas. In a quarter-to-quarter comparison, home prices were lower in 21 of the 27 markets we reviewed in our salary slideshow. The most and least affordable metro areas in the salary analysis: Most affordable metropolitan areas Required salary to afford a median-priced home 1. Pittsburgh $32,373.50 2. Cleveland $33,779.45 3. Cincinnati $36,520.35   Least affordable metropolitan areas Required salary to afford a median-priced home 1. San Francisco $160,589.84 2. San Diego $113,530.43 3. Los Angeles $98,315.22  To see the...

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2017’s Best State Capitals to Live In

With only 17 state capitals being also the largest cities in their respective states but not necessarily offering the best quality of life, the personal-finance website WalletHub conducted an in-depth analysis to determine 2017’s Best State Capitals to Live in. To identify the most livable seats of state government, WalletHub’s data team compared all 50 across 42 key metrics, ranging from “cost of living” to “K–12 school-system quality” to “number of attractions.”   Top 20 State Capitals to Live in       1 Austin, TX   11 Denver, CO   2 Boise, ID   12 Juneau, AK  ...

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How I Got My Start: Donna Palm

  Dreaming Bigger Homeless for a short time in her 20s, Donna Palm found the courage to redesign her life and thrive. Independent, driven, proud, tough—those are all words that describe Donna Palm, broker associate of RE/MAX Alliance Group in Venice, Fla. You might say they define her the way those same qualities assured her success. Like many people, Palm didn’t start her real estate career out of a desire to sell homes. It came out of a realization that she needed to redesign her life. “When I was in my 20s, I was living in Chicago and was...

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Mortgage Payments Take Up Biggest Share of Income Since 2010

Rising mortgage rates and accelerating home value growth lead to larger share of income required to pay monthly mortgage – Nationally, buyers could expect to pay 15.8 percent of their income for the typical monthly mortgage payment in 2016 Q4, up from 14.7 percent a year earlier. – Monthly rental payments require 29.2 percent of the median household income, down slightly from 29.4 percent in 2015 Q4. – Among the largest U.S. metros, Los Angeles requires the highest share of income from both buyers and renters making monthly housing payments. With interest rates and home values on the rise,...

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Housing Affordability Remains Favorable Even as it Hits an Eight-Year Low

Shortages of buildable lots and skilled labor, along with excessive regulations, rising mortgage interest rates and ongoing home price appreciation pushed housing affordability in the fourth quarter of 2016 to its lowest point since the third quarter of 2008, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI).    “Though builders remain confident that housing markets across the nation will continue to show gradual improvement in the year ahead, they remain concerned that regulatory constraints and lot and labor supply issues are preventing a more robust recovery,” said NAHB Chairman Granger MacDonald, a home builder...

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