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New study names root causes for depressed homeownership rate in U.S.

Jun 09, 2017
Despite steadily improving local job markets and historically low mortgage rates, the U.S. homeownership rate is stuck near a 50-year low because of a perverse mix of affordability challenges, student loan debt, tight credit conditions and housing supply shortages. That’s according to findings in a new white paper released in recognition of National Homeownership Month at the National Association of REALTORS Sustainable Homeownership Conference. 

Five main barriers that have prevented a significant number of households from purchasing a home include: post-foreclosure stress disorder; mortgage availability; the growing burden of student loan debt; single-family housing affordability; and single-family household supply shortages. 

Click here to learn more. 
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New York State home sales fall short of record 3Q high

There were 38,445 homes sold across New York State during the 2017 third quarter, a 3.1-percent decline from the 2016 third quarter’s record total. The 2017 third quarter sales total is the second best on record for the period. The median sales price growth trend continued in the third quarter, posting a 5-percent increase to $261,500. Click here to read more.

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