Mortgages
First-time homebuyers are finding it harder and harder to get into their dream home.
The National Association of Realtors said that first-time homebuyers make up only 28 percent of the national housing market in a Jan. 28 new story, the lowest number since the organization started measuring the demographic in 2008. According to the NAR, first-time homebuyers typically make up about 40 percent of the market, but several factors are keeping them from purchasing a home, including higher competition for lower priced properties, which are being swept up by investors at increasingly high rates.
Read MoreAs Joanna told us earlier, the shuttering of Washington, D.C. is taking a toll on the real estate market somewhat. You may recall Paige Phelps, who worked in Dallas for People Newspapers then for The North Texas Food Bank. “It’s a USDA rural home loan (I’m in Marfa now) and I’ve been approved,” says Paige. “It’s just…
Read MoreBryan Sherman is the Senior Vice President and Regional Sales Executive at Bank of America in Dallas. And, for a banker, he’s a pretty funny guy. When I asked him exactly WHAT he does at BofA — I love to give anyone from the Big Three a hard time, because frankly, I prefer smaller local…
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