Are you looking forward to owning your own house? No neighbors connected to your walls, your own private backyard, a place you can paint whatever color you want (without management approval?!) Buying a home can be one of life’s most exciting events, but saving tens of thousands of dollars for a down payment can feel […]
There’s a cost of homeownership that surprises many first-time homebuyers, one that’s easy to overlook in the excitement of going through the homebuying process. It’s called private mortgage insurance or PMI. For the unprepared homebuyer, the cost of paying PMI can be a real budget-buster, adding thousands of dollars in additional expense each and every […]
There have been a lot of social media posts recently about how delusional Gen Z are when it comes to finances, with one much-shared post stating one particular statistic. The stat was pulled from a survey conducted by Empower and reported in Fortune, and the soundbite being widely posted (and ridiculed) is this: Gen Zers […]
If you’ve been struggling to afford to buy a home, you’re not alone. The housing burden shot up, making it harder to form new households and pushing homebuyers, especially those at lower incomes, to lower-cost locations. The most recent housing report from Harvard’s Joint Center for Housing Studies, their State of the Nation’s Housing 2023 […]
The “American Dream” of homeownership seems to drift ever further away. Between dramatic increases in home prices and even more dramatic hikes in mortgage interest rates, far too many find themselves priced out of the market. Why Is It So Expensive to Buy a Home? The simplest answer is mostly right – the US is […]
You’ll hear homeowners proclaim this all the time. ‘My home is my biggest asset.’ But is it true? Are they even looking at the concept of an asset correctly? In very simple terms an asset is something you own and a liability is something you owe, which means, unless your house is paid off in […]
And how much you need to earn to afford housing… Unless you’ve been hiding under a rock for years, you’ve seen it and may well be struggling as a result. Housing prices have shot through the roof over the past several years. Asking rents also soared. According to a report from Harvard’s Joint Center for […]
Finding a home to buy that you can afford without starving, wearing rags, and/or going without health insurance is nearly impossible for tens of millions of American households. In the current market, even renting isn’t easy. It’s one of the fiercest-fought arguments in personal finance. Is it better to rent or buy your home? Here’s […]
Busting another real-estate mogul’s proclamation that could cost you over $100k Social media makes it far too easy for “gurus” to make proclamations that reach millions of people. That wouldn’t be so bad if only their advice wasn’t so dangerous to our financial well-being! Case in Point: Grant Cardone’s Recent Instagram Interview In a June […]