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Home ownership

A tax break to encourage homeownership primarily helps the wealthy

by Kimberly Adams
Jun 3, 2024
Economists argue the home mortgage interest deduction doesn't really work and costs the federal government tens of billions of dollars a year.
To be eligible for the home mortgage interest deduction, a buyer would have to be among the 11% of taxpayers who itemize their returns. Above, a home for sale in Damascus, Maryland.
Kimberly Adams/ Marketplace
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Some upbeat economic news for millennials

by David Brancaccio , Chris Farrell and Alex Schroeder
Mar 12, 2024
New research casts doubt on the widespread belief that the generation of Americans will be worse off than their parents.
Patrick T. Fallon/AFP via Getty Images
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More renters expect they'll never buy a home

by Kristin Schwab
Jan 31, 2024
They plan to rent forever because they can't afford to buy or they like the renting lifestyle.
In 2023, it was more expensive to buy than it was to rent in 46 of the top 50 U.S. metro areas, according to Redfin data.
Justin Sullivan/Getty Images
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Adventures in Housing

This Florida woman used move-in deals to help save up for a house

by Maria Hollenhorst
Mar 1, 2023
Errica Jamil moved seven times in about as many years, earning her free or reduced rent. Now she owns a home of her own.
Chasing move-in specials every year eventually helped Errica Jamil buy a home of her own.
Brendan Smialowski/AFP via Getty Images
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Can millennials afford a house without family help?

by Janet Nguyen
Jan 6, 2023
Home prices are high and incomes aren't keeping up. Some first-time buyers receive loans or gifts from a family member or friend to help with their down payment.
A view of the San Francisco skyline from Alamo Square Park.
Rich Fury/Getty Images
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Mortgage rates fall as investors take shelter in bonds

by Amy Scott
Mar 9, 2022
But analysts say the dip is likely to be temporary.
After easing last week, mortgage rates may not stay down for long with the Federal Reserve set to raise interest rates this month.
Justin Sullivan/Getty Images
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Could rental history for loan applicants help boost home ownership?

by Amanda Peacher
Sep 15, 2021
Fannie Mae says including loan applicant's rental payment history could help correct past housing inequities.
A house for sale in South Pasadena, California, in April.
Frederic J. Brown/AFP via Getty Images
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Lots of homeowners are dropping flood insurance, study shows

by Andy Uhler
Aug 4, 2021
It's bad news for federal officials who are trying to convince more homeowners that they need flood protection.
A Houston home sits in floodwaters from Hurricane Harvey in 2017. Many in Houston did not have flood insurance.
Spencer Platt via Getty Images
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Race and Economy

To narrow racial wealth gap, Biden plan takes aim at home appraisal inequality

by Samantha Fields
Jun 1, 2021
Homes in most white neighborhoods are worth an average of $250,000 more than those in mostly Black and Latinx neighborhoods.
President Joe Biden laid out policy proposals aimed at narrowing the racial wealth gap during a speech in Tulsa, Oklahoma. Above, Biden speaks with Michelle Brown-Burdex of the Greenwood Cultural Center.
Mandel Ngan/AFP via Getty Images
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Millennials continue to lag behind in home ownership rates

by Meghan McCarty Carino
Feb 23, 2021
Student loan debt, high housing prices and career setbacks from the Great Recession hurt millennials' ability to build wealth.
Millennials are held back from homeownership from economic setbacks like student loan debt and the Great Recession. Above, a house under contract in Washington, D.C., in November.
Saul Loeb/AFP via Getty Images
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