#texas mortgage rates

[mariewaltonrealtor]

Mortgage Rates Just Shot Up Again—but the News Gets Worse From There

Mortgage Rates Just Shot Up Again—but the News Gets Worse From There

[heberthome]

Today Mortgage Rate's & Several factors influence mortgage rates!

Several factors influence mortgage rates. Here are some of the key factors that lenders consider when determining mortgage rates: Mortgage Rate Factors Economic conditions: The overall state of the economy, including factors like inflation, employment rates, and economic growth, can impact mortgage rates. During periods of economic growth, rates may be higher due to increased demand for…

[batboyblog]

Things Biden and the Democrats did, this week #22

June 7-14 2024

Vice-President Harris announced that the Consumer Financial Protection Bureau is moving to remove medical debt for people's credit score. This move will improve the credit rating of 15 million Americans. Millions of Americans struggling with debt from medical expenses can't get approved for a loan for a car, to start a small business or buy a home. The new rule will improve credit scores by an average of 20 points and lead to 22,000 additional mortgages being approved every year. This comes on top of efforts by the Biden Administration to buy up and forgive medical debt. Through money in the American Rescue Plan $7 billion dollars of medical debt will be forgiven by the end of 2026. To date state and local governments have used ARP funds to buy up and forgive the debt of 3 million Americans and counting.

The EPA, Department of Agriculture, and FDA announced a joint "National Strategy for Reducing Food Loss and Waste and Recycling Organics". The Strategy aimed to cut food waste by 50% by 2030. Currently 24% of municipal solid waste in landfills is food waste, and food waste accounts for 58% of methane emissions from landfills roughly the green house gas emissions of 60 coal-fired power plants every year. This connects to $200 million the EPA already has invested in recycling, the largest investment in recycling by the federal government in 30 years. The average American family loses $1,500 ever year in spoiled food, and the strategy through better labeling, packaging, and education hopes to save people money and reduce hunger as well as the environmental impact.

President Biden signed with Ukrainian President Zelenskyy a ten-year US-Ukraine Security Agreement. The Agreement is aimed at helping Ukraine win the war against Russia, as well as help Ukraine meet the standards it will have to be ready for EU and NATO memberships. President Biden also spearheaded efforts at the G7 meeting to secure $50 billion for Ukraine from the 7 top economic nations.

HHS announced $500 million for the development of new non-injection vaccines against Covid. The money is part of Project NextGen a $5 billion program to accelerate and streamline new Covid vaccines and treatments. The investment announced this week will support a clinical trial of 10,000 people testing a vaccine in pill form. It's also supporting two vaccines administered as nasal sprays that are in earlier stages of development. The government hopes that break throughs in non-needle based vaccines for Covid might be applied to other vaccinations thus making vaccines more widely available and more easily administered.

Secretary of State Antony Blinken announced $404 million in additional humanitarian assistance for Palestinians in Gaza, the West Bank and the region. This brings the total invested by the Biden administration in the Palestinians to $1.8 billion since taking office, over $600 million since the war started in October 2023. The money will focus on safe drinking water, health care, protection, education, shelter, and psychosocial support.

The Department of the Interior announced $142 million for drought resilience and boosting water supplies. The funding will provide about 40,000 acre-feet of annual recycled water, enough to support more than 160,000 people a year. It's funding water recycling programs in California, Hawaii, Kansas, Nevada and Texas. It's also supporting 4 water desalination projects in Southern California. Desalination is proving to be an important tool used by countries with limited freshwater.

President Biden took the lead at the G7 on the Partnership for Global Infrastructure and Investment. The PGI is a global program to connect the developing world to investment in its infrastructure from the G7 nations. So far the US has invested $40 billion into the program with a goal of $200 billion by 2027. The G7 overall plans on $600 billion by 2027. There has been heavy investment in the Lobito Corridor, an economic zone that runs from Angola, through the Democratic Republic of Congo, to Zambia, the PGI has helped connect the 3 nations by rail allowing land locked Zambia and largely landlocked DRC access Angolan ports. The PGI also is investing in a $900 million solar farm in Angola. The PGI got a $5 billion dollar investment from Microsoft aimed at expanding digital access in Kenya, Indonesia, and Malaysia. The PGI's bold vision is to connect Africa and the Indian Ocean region economically through rail and transportation link as well as boost greener economic growth in the developing world and bring developing nations on-line.

[posttexasstressdisorder]

They killed our Jesus: A Lament for Generation Jones

Two things happened in 1980 that would ensure the iron grip of the fascist state would (first slowly, then quickly), tighten on the entirety of the nation's populace from that moment forward: Ronald fucking Reagan was installed as president, and a CIA-psyop'd Christian Nationalist shot and killed John Lennon.

Those two things are connected.

First let's look at exactly who "Generation Jones" encompasses, and specific moments in the generational timeline that defined our future. The wiki page is actually quite good. Here's an excerpt that really hits it on the head:

"The name "Generation Jones" has several connotations, including a large anonymous generation, a "keeping up with the Joneses" competitiveness and the slang word "jones" or "jonesing", meaning a yearning or craving.[17][18][19] Pontell suggests that Jonesers inherited an optimistic outlook as children in the 1960s, but were then confronted with a different reality as they entered the workforce during Reaganomics and the shift from a manufacturing to a service economy, which ushered in a long period of mass unemployment. Mortgage interest rates increased to above 12 percent in the mid-eighties,[20] making it virtually impossible to buy a house on a single income. De-industrialization arrived in full force in the mid-late 1970s and 1980s; wages would be stagnant for decades, and 401Ks replaced pensions, leaving them with a certain abiding "jonesing" quality for the more prosperous days of the past.

Generation Jones is noted for coming of age after a huge swath of their older brothers and sisters in the earlier portion of the Baby Boomer population had; thus, many note that there was a paucity of resources and privileges available to them that were seemingly abundant to older Boomers. Therefore, there is a certain level of bitterness and "jonesing" for the level of doting and affluence granted to older Boomers but denied to them.[21]"

That sets the stage, for the most part. I was four when JFK was shot on TV. I was a wide-eyed, open-eared five year old when The Beatles were on Ed Sullivan and The Supremes were on the radio. I was ten when we landed on the moon, and I wanted to be a hippie at Woodstock at eleven. "Basketball Jones" came out when I was 12...I jonesed for a telescope because SPACE and got one from that great maker of fine telescopes, KMart.

Generationally, we jonesed to be ten years older, so we could have had all the cool shit THEY had. They had The Beatles, and we had the solo Beatles, they had Hendrix, Cream, Jefferson Airplane, and we had the fucking BeeGees and disco. It's like we, as a generation, were fated to live The K-Mart Knockoff of Life, instead of the bright, shiny Brand Name One all our older brothers and sisters got.

MUSIC and SCIENCE were EVERYTHING to us as kids/teens...the Eshittification Of Music truly began in 1973, and proceeded through SynthPop Hell in the '80s. Rock and Roll heroes became hairdos with guitars. The rock heroes of the '60s were getting married and having kids and baking bread. AM Radio ceased to be something you listened to for music...it began to replace music with strident, screaming hate voices that would eventually engulf all of AM Radio 24/7/365.

We were continually thwarted most of the way from our young adulthood on, blatantly from the moments in 1980 that the vile Ronald Reagan and the core operatives of evil for the next 50 years took over, and then the moment of what I call "Our Generational Wounding", the murder of John Lennon.

Back in '66, John had inflamed all the grandpas of todays magats by saying (truthfully) that with teens, The Beatles were more popular than Jesus. Beatle hate became a Very Big Thing in Bumfuck South Texas. Record burnings, merchandise burnings, book burnings, all were commonplace. A very palpable, and very specifically "Anti-Beatle" hate got instilled in a lot of kids/teens at that point, so anything to do with the Beatles was taboo for "good people" (read Southern Baptists) to like.

That, of course, made me love them that much more, and to follow their paths from their breakup forward with 'bated breath, buying every 45 they put out, trying to save pennies up to buy their albums.

John was the radical hippie, the one who wanted peace, the one with the weirdo wife, the one who held a "Bed-In" for peace. In a very fundamental-to-our-generation way, John Lennon was OUR "Jesus".

Richard Nixon (president from '68 to '74) HATED him.

In 1971, there was a true mass consciousness that incorporated us along with our older siblings, a musical mass consciousness. I became aware of many things in 1969, specifically fall of '69, so I was experiencing all this in real-time, as it happened. When the news that The Beatles officially broke up came across the AM radiowaves in May of '70, it was A. Very. Big. Deal. Everyone watched everything they did from that point on with GREAT interest.

George put out "My Sweet Lord" and "What Is Life" (first record I ever bought), John put out "Instant Karma", "Mother", then "Power To The People", then "Imagine". Ringo put out "It Don't Come Easy", and Paul & Linda had "Uncle Albert/Admiral Halsey". EVERYBODY was a "post-breakup Beatle critic", panning Paul's very first solo 45 "Another Day", "Uncle Albert" was the followup. This band called Badfinger that sounded suspiciously like The Beatles appeared on American radio, and would make 1972 one of the final "Golden Years" of AM Rock Radio.

In 1970 we heard about this Elton John guy, by the end of '72, I was playing as many of his songs on the piano as I could figure out. My favorite album was (still is) "Madman Across The Water". When "Goodbye Yellow Brick Road" came out in '73, a very noticeable shift was occuring.

Pop became much less political. It softened. It mellowed. It grew its hair long and lived in the country, learned how to grow potatoes and play the mandolin, making Country Rock the one lasting "legacy" of our sad sub-generation. By the time I graduated HS in May of '77, it was all there was on the radio, besides....disco. Oof.

One of my first TV memories was JFK getting shot. That was the Generational Wounding of our older brothers and sisters. When Mark Chapman (a Christian nationalist who changed the words of "Imagine" to "Imagine there's no John Lennon") shot John in December of 1980, it was the 2 in the 1-2 PUNCH done to our OUR generation. The first, of course, being the installing of Reagan and the evil Evangelical influence beginning in earnest.

It also began the buildup of the "Holy War" radical right, and an utter denial and clampdown of "hippie", of "counterculture" in general began, ensuring that John's vision of world peace would never come true, at least not on their watch. They had, effectively, killed OUR Jesus, along with our chances of the kind of security our older sibs got in spades. It also marked the unholy marriage of the evangelicals and the republican apparatus.

When Reagan got elected by virtue of the vile Newt Gingrich's 'Southern Strategy', a clampdown in earnest on the very SPIRITUAL EXISTENCE of our generation's incredible want and need, our collective JONESING for world peace began. Richard Nixon had planted the seeds. Nixon hated John Lennon with a passion. After Reagan was elected, I firmly believe Chapman was "activated" and they killed John as a Christmas present to Nixon.

It was after that, when the dream of a scientific future began to die, as well. When we were in high school, SCIENCE WAS EVERYTHING, so we wanted to be some kind of scientist "when we grew up".

I dealt with four years of college, majored in Biology, and in early 1981 realized my dream of being a Forest Ranger in Yosemite or some other national park somewhere, living in a cabin, giving talks to visitors about the biology aspects of the park....all that went POOF, almost instantaneously. My degree would get me nowhere, so I left before the end of that year and started working in record stores.

I was effectively the Cusack character in the movie about record stores, but it led to a dead end. Record stores weren't all that glamorous, and yes, the pay was dogshit. I tried working in record stores for the love of the music, while trying to BE a musician in a town FILLED OVER FLOWING with musicians, but that was quickly shat on by the beginning shrieks of late-stage capitalism.

It was like working in the record stores was my trying to keep holding onto the dream, our generation's dream...John's dream of world peace (along with my dream of being a working musician) died a pitiful death by the end of 1986.

What followed was nothing but a series of Jobs I Hated, and the beginnings of the true Jonesing for the life we'd been promised, because we didn't get the raises, the pensions, the house, the car, boat and camper, none of that shit for us. A life of being a low-paid, no-insurance drub, destined to be a life-long renter, unless a financial miracle happens.

So when people ask why we (as a generation) hate Ronald Reagan so much, let's just say I'm with Bugs on this one.

[wumblr]

The number of commercial-scale Bitcoin mining operations in the U.S. has increased sharply over the last few years; there are now at least 137. Similar medical complaints have been registered near facilities in Arkansas and North Dakota. And the Bitcoin mining industry is urgently trying to push bills through state legislatures, including in Indiana and Missouri, which would exempt Bitcoin mines from local zoning or noise ordinances. In May, Oklahoma governor Kevin Stitt signed a “Bitcoin Rights” bill to protect miners and prevent any future attempts to ban the industry. Much of the American Bitcoin mining industry can now be found in Texas, home to giant power plants, lax regulation, and crypto-friendly politicians. In October 2021, Governor Greg Abbott hosted the lobbying group Texas Blockchain Council at the governor’s mansion. The group insisted that their industry would help the state’s overtaxed energy grid; that during energy crises, miners would be one of the few energy customers able to shut off upon request, provided that they were paid in exchange. After meeting with the lobbyists, Abbott tweeted that Texas would soon be the “#1 [state] for blockchain & cryptocurrency.” Technically there is federal mandate to regulate noise, which stems from the 1972 Noise Control Act—but it was essentially de-funded during the Reagan administration. This leaves noise regulation up to states, cities, and counties. New York City, for instance, has a noise code which officially caps restaurant music and air conditioning at 42 decibels (as measured within a nearby residence). Texas’s 85 decibels, in contrast, is by far the loudest state limit in the nation, says Les Blomberg, the executive director of the nonprofit Noise Pollution Clearinghouse. “It is a level that protects noise polluters, not the noise polluted,” he says. The residents of Granbury feel they’ve been lied to. In 2023, the site’s previous operators, US Bitcoin Corp, constructed a wall around the mine almost 2,000 feet long and claimed that they had “solved the concern.” But Shirley says that the complaints from the community about the sound actually increased when the wall was nearing completion last fall. Since Marathon bought the facility outright in December, its hash rate, or computational power expended, has doubled. Any statewide legislation is sure to hit significant headwinds, because the very idea of regulation runs contrary to many Texans’ political beliefs. “As constitutional conservatives, they have taken our core values and used that against us,” says Demetra Conrad, a city council member in the nearby town of Glen Rose. In the week before this article’s publication, two more Granbury residents suffered from acute health crises. The first was Tom Weeks. “This whole thing is an eye opener for me into profit over people,” Weeks says in a phone call from the ICU. The second person affected was the five-year-old Indigo Rosenkranz. Her mother, Sarah, was terrified and now feels she has no choice but to get a second mortgage to move away from the mine. “A second one would really be a lot,” she says. “God will provide, though. He always sees us through.”

shocking! texans suffer from deregulation and ineffective walls

[mariacallous]

If you’re one of the millions of Americans worried about your pocketbooks and the general cost of living, you might have picked up on some good news recently: Inflation has really been cooling off this summer, as long-sticky (and long-lamented) food and energy prices continue to moderate. Some economic indicators remain stubborn, however—and they aren’t likely to abate anytime in the near future, no matter how long the Federal Reserve keeps interest rates high, what tweaks President Joe Biden makes to his trade policy, whether corporations decide themselves to slash prices on certain products, or whether Covid-battered supply chains finally get some long-needed fixes.

Other, grimmer recent headlines help to explain why. Hard rains from a tropical disruption in the Gulf have been battering Florida’s southern regions for days, leading to a rare flash-flood emergency. Another batch of storms is swirling near Texas at the moment and could form into a tropical depression, according to forecasts from the National Hurricane Center. Even if both states end up missing bigger storms now, it’s likely only a matter of time before they’re threatened again: The National Oceanic and Atmospheric Administration predicts that the United States will see its worst hurricane season in decades this summer.

Meanwhile, the heat waves that have enveloped Phoenix are intensifying to the point that some analysts are deeming its latest conditions “a Hurricane Katrina of heat.” Spanning outward, the Midwest and Northeast are projected to get their own extreme heat warnings as early as next week, with energy demand set to skyrocket as people turn on their air conditioners. The country has already seen 11 “billion-dollar disasters” this year, including the tornadoes that slammed Iowa just weeks ago. Meanwhile, the already strapped Federal Emergency Management Agency faces a budgetary crisis, and sales of catastrophe bonds are at an all-time high.

Now, let’s look back at the inflation readings. One of the categories remaining stubbornly high while other indicators shrink? Shelter and housing, natch, as rents and insurance stay hot—and still-elevated interest rates make construction and mortgage costs even more prohibitive. On the energy front, motor fuel may be cheapening, but fuel and electricity for home use are still pricey. Auto insurance remains a driving outlier, as I noted back in April, not least because of insurers hiking premiums for cars in especially disaster-vulnerable regions—like the South, the Southwest, and the coasts.

Look at what else is happening in those very regions when it comes to home insurance: Providers are either retreating from or dramatically heightening their prices in states like California, Texas, Florida, and New Jersey, thanks to their unique susceptibility to climate change. These states have seen supercharged extreme weather events like floods, rain bombs, heat waves, and droughts. National lawmakers fear that the insurance crises there may ultimately wreak havoc on the broader real estate sector—but that’s not the only worst-case scenario they have to worry about.

Agricultural yields for important commodities produced in those states (fruits, nuts, corn, sugar, veggies, wheat) are withering, thanks to punishing heat and soil-nutrition depletion. The supply chains through which these products usually travel are thrown off course at varying points, by storms that disrupt land and sea transportation. Preparation for these varying externalities requires supply-chain middlemen and product sellers to anticipate consequential cost increases down the line—and implement them sooner than later, in order to cover their margins.

You may have noticed some clear standouts among the contributors to May’s inflation: juices and frozen drinks (19.5 percent), along with sugar and related substitutes (6.4 percent). It’s probably not a coincidence that Florida, a significant producer of both oranges and sugar, has seen extensive damage to those exports thanks to extreme weather patterns caused by climate change as well as invasive crop diseases. Economists expect that orange juice prices will stay elevated during this hot, rainy summer.

(Incidentally, climate effects may also be influencing the current trajectory and spread of bird flu across American livestock—and you already know what that means for meat and milk prices.)

It goes beyond groceries, though. It applies to every basic building block of modern life: labor, immigration, travel, and materials for homebuilding, transportation, power generation, and necessary appliances. Climate effects have been disrupting and raising the prices of timber, copper, and rubber; even chocolate prices were skyrocketing not long ago, thanks to climate change impacts on African cocoa bean crops. The outdoor workers supplying such necessities are experiencing adverse health impacts from the brutal weather, and the recent record-breaking influxes of migrants from vulnerable countries—which, overall, have been good for the U.S. economy—are in part a response to climate damages in their home nations.

The climate price hikes show up in other ways as well. There’s a lot of housing near the coasts, in the Gulf regions and Northeast specifically; Americans love their beaches and their big houses. Turns out, even with generous (very generous) monetary backstops from the federal government, it’s expensive to build such elaborate manors and keep having to rebuild them when increasingly intense and frequent storms hit—which is why private insurers don’t want to keep having to deal with that anymore, and the costs are handed off to taxpayers.

When all the economic indicators that take highest priority in Americans’ heads are in such volatile motion thanks to climate change, it may be time to reconsider how traditional economics work and how we perceive their effects. It’s no longer a time when extreme weather was rarer and more predictable; its force and reasoning aren’t beyond our capacity to aptly monitor, but they’re certainly more difficult to track. You can’t stretch out the easiest economic model to fix that. And you can’t keep ignoring the clear links between our current weather hellscape, climate change, and our everyday goods.

Thankfully, some actors are finally, belatedly taking a new approach. The reinsurance company Swiss Re has acknowledged that its industry fails to aptly factor disaster and climate risks into its calculations, and is working to overhaul its equations. Advances in artificial intelligence, energy-intensive though they may be, are helping to improve extreme-weather predictions and risk forecasts. At the state level, insurers are pushing back against local policies that bafflingly forbid them from pricing climate risks into their models, and Florida has new legislation requiring more transparency in the housing market around regional flooding histories. New York legislators are attempting to ban insurers from backstopping the very fossil-fuel industry that’s contributed to so much of their ongoing crisis.

After all, we’re no longer in a world where climate change affects the economy, or where voters prioritizing economic or inflationary concerns are responding to something distinct from climate change—we’re in a world where climate change is the economy.

[beardedmrbean]

A Nebraska lawmaker whose north Omaha district has struggled for years with a housing shortage is pushing a bill that, if passed, could make Nebraska the first in the country to forbid out-of-state hedge funds and other corporate entities from buying up single-family properties.

Sen. Justin Wayne’s bill echoes legislative efforts in other states and in Congress to curtail corporate amassing of single-family homes, which critics say has helped cause the price of homes, rent and real estate taxes to soar in recent years. Wayne said that has been the case in his district, where an Ohio corporation has bought more than 150 single-family homes in recent years — often pushing out individual homebuyers with all-cash offers. The company then rents out the homes.

Experts say the scarcity of homes for purchase can be blamed on a multitude of factors, including sky-high mortgage interest rates and years of underbuilding modest homes.

RISING RENT PRICES PUSH RECORD NUMBER OF AMERICANS TOWARD HOUSING CRISIS, PROMPTING LEGISLATIVE ACTION

Wayne's bill offers few specifics. It consists of a single sentence that says a corporation, hedge fund or other business may not buy single-family housing in Nebraska unless it's located in and its principal members live in Nebraska.

"The aim of this is to preserve Nebraska's limited existing housing stock for Nebraskans," Wayne said this week at a committee hearing where he presented the bill. "If we did this, we would be the first state in the country to take this issue seriously and address the problem."

A 14-page bill dubbed the End Hedge Fund Control of American Homes Act has been introduced in both chambers of Congress and would impose a 10-year deadline for hedge funds to sell off the single-family homes they own and, until they do, would saddle those investment trusts with hefty taxes. In turn, those tax penalties would be used to help people put down payments on the divested homes.

Democratic lawmakers in a number of other states have introduced similar bills, including in Minnesota, Indiana, North Carolina and Texas, but those bills have either stalled or failed.

The housing squeeze coming from out-of-state corporate interests isn't just an Omaha problem, said Wayne Mortensen, director of a Lincoln-based affordable housing developer called NeighborWorks Lincoln.

Mortensen said the recession of 2008 and, more recently, the economic downturn driven by the COVID-19 pandemic made single-family housing a more attractive corporate investment than bond markets.

"When that became the case, housing was commoditized and became just like trading any stock," he said. "Those outside investors are solely interested in how much value they can extract from the Lincoln housing market."

Those corporations often invest no upkeep in the homes, he said.

"And as a result of that, we're seeing incredible dilapidation and housing decline in many of our neighborhoods because of these absentee landlords that have no accountability to the local communities," Mortensen said.

Currently, about 13% of single-family homes in Lincoln are owned by out-of-state corporate firms, he said.

As in other states, Wayne's bill likely faces an uphill slog in the deep red state of Nebraska. At Monday's hearing before the Banking, Insurance and Commerce Committee, several Republican lawmakers acknowledged a statewide housing shortage, but they cast doubt on Wayne's solution.

"You know, you can set up shell companies, you set up different layers of ownership. You can move your domicile base. There's just a ton of workarounds here," Omaha Sen. Brad von Gillern said. "I also — as just as a pure capitalist — fundamentally oppose the idea."

[mandsleanan]

Sorry, parents: The American dream is only for DINKS

Homebuyers with kids will likely spend 66% of their income on a mortgage and childcare this year.

Parents in Los Angeles and San Diego can expect to spend as much as 121% and 113%, respectively.

Some Californians have moved across the country to afford to buy a home.

Thinking about buying a home this year with kids already in the picture? Get ready to dig deep.

A recent study from Zillow found that potential homebuyers with children are likely to spend 66% of their income on mortgage payments and childcare expenses — an increase of nearly 50% from 2019. 

The real-estate company estimated city- and state-level childcare costs from 2009 to 2022 for the typical American family with 1.94 children by analyzing data from the Women’s Bureau of the US Department of Labor and advocacy group Child Care Aware.

According to Zillow’s analysis, in 31 of the largest 50 US metropolitan areas with available childcare cost data, families looking to buy a home can expect to spend more than 60% of their income on mortgage and childcare costs.

Some areas are even costlier, with parents in cities like Los Angeles and San Diego needing to dedicate as much as 121% and 113%, respectively. (In those areas, the cost of buying a typical home and childcare is so big relative to the median income that Zillow's calculation results in figures over 100%.)

Zillow determined that a family earning a median household income of $6,640 per month can expect to allocate $1,984 of that to childcare. If the family purchased a house at a 6.61% interest rate — the rate in early January, when the US Department of Labor released its latest data on childcare costs — and made a 10% down payment, their monthly mortgage would amount to $1,973.

That leaves just $2,683 for additional expenses like food, transportation, and healthcare. This means many households with kids are financially strained; they're likely spending more than 30% of their income on housing, well above what experts recommend.

It all adds up to a costly reality that's making the American dream of homeownership seem farther out of reach for parents than ever before.

Parents can blame a yearslong battle with inflation, as well as stubbornly high home prices and mortgage rates, for contributing to their predicament.

Based on the study, a new buyer household in the United States, making the median income, would spend 30% of it on housing. It's paying for childcare, then, that adds so much on top of the housing budget.

The upshot: Another group, less encumbered financially, appears better poised to realize the dream of homeownership: "DINKS," an acronym that stands for "dual income, no kids."

Some child-free DINKS — who boast a median net worth above $200,000 according to the Federal Reserve's Survey of Consumer Finances — devote their disposable income to luxuries like boats and expensive cars.

Without the financial obligations of raising children, such as covering medical expenses or enrolling them in daycare or private school, DINKS can save thousands of dollars a year and build greater long-term wealth.

Some DINKS use their savings to finance vacations and travel the world, like Elizabeth Johnson and her husband, who, over the past couple of years, have hiked in the Swiss Alps, snorkeled in Hawaii, and enjoyed leaf peeping in Canada.

"We hang out with other people's kids every once in a while," Johnson previously told Business Insider's Bartie Scott and Juliana Kaplan, "but then we happily just give them back to their parents."

Some Americans with kids move to places where their money goes further

One solution to the high cost of both buying a home and raising a family?

Move.

In recent years, young Americans in higher-cost states have decided to move to places that offer them a cheaper cost of living.

Janelle Crossan moved to New Braunfels, Texas, from Costa Mesa, California, in 2020 following a divorce.

She was able to become a first-time homebuyer and found a safe community to raise her son.

"I paid $1,750 for rent in a crappy little apartment in California," Crossan told BI earlier this year. "Now, three years later, my whole payment, including mortgage and property taxes, is $1,800 a month for my three-bedroom house."

Pengyu Cheng, a program manager for a tech company, told BI in 2023 that moving from California to Texas allowed him and his wife to afford their first home, giving them the confidence and security to have their first child.

"Living in California has always been expensive," Cheng said. "I knew that when my wife and I eventually expanded our family, we wouldn't be able to afford San Francisco or the Bay Area in general — even though we both earn good salaries."

[newstfionline]

Sunday, June 25, 2023

The World’s Empty Office Buildings Have Become a Debt Time Bomb (Bloomberg) In New York and London, owners of gleaming office towers are walking away from their debt rather than pouring good money after bad. The landlords of downtown San Francisco’s largest mall have abandoned it. A new Hong Kong skyscraper is only a quarter leased. The creeping rot inside commercial real estate is like a dark seam running through the global economy. Even as stock markets rally and investors are hopeful that the fastest interest-rate increases in a generation will ebb, the trouble in property is set to play out for years. After a long buying binge fueled by cheap debt, owners and lenders are grappling with changes in how and where people work, shop and live in the wake of the pandemic. At the same time, higher interest rates are making it more expensive to buy or refinance buildings. A tipping point is coming: In the US alone, about $1.4 trillion of commercial real estate loans are due this year and next, according to the Mortgage Bankers Association. When the deadline arrives, owners facing large principal payments may prefer to default instead of borrowing again to pay the bill.

Inflation, health costs, partisan cooperation among the nation’s top problems (Pew Research Center) Inflation remains the top concern for Republicans in the U.S., with 77% saying it’s a very big problem. Gun violence is the top issue for Democrats: 81% rank it as a very big problem. When it comes to policy, more Americans agree with the Republican Party than the Democratic Party on the economy, crime and immigration, while the Democratic Party holds the edge on abortion, health care and climate change.

The Brown Bag Lady serves meals and dignity to L.A.’s homeless (USA Today) A Los Angeles woman, known affectionately as the Brown Bag Lady, is serving the city’s unhoused population with enticing meals and a sprinkle of inspiration for dessert. Jacqueline Norvell started cooking meals for people on L.A.’s Skid Row about 10 years ago in her two-bedroom apartment after getting some extra money from her Christmas pay check. She bought several turkeys and prepared all the fixings for about 70 people, driving to one of L.A.’s most high-risk areas to hand out the meals. “We just parked on a corner,” said Norvell. “And we were swarmed.” She says people were grateful and she realized the significant demand. Norvell’s been cooking tasty creations ever since. Norvell garnishes each dish with love and some words of encouragement. In addition to the nourishment, each bag or box has an inspirational quote. “We’ve got to help each other out,” she said. “We have to.”

Facing Brutal Heat, the Texas Electric Grid Has an Ally: ‌Solar Power (NYT) Strafed by powerful storms and superheated by a dome of hot air, Texas has been enduring a dangerous early heat wave this week that has broken temperature records and strained the state’s independent power grid. But the lights and air conditioning have stayed on across the state, in large part because of an unlikely new reality in the nation’s premier oil and gas state: Texas is fast becoming a leader in solar power. The amount of solar energy generated in Texas has doubled since the start of last year. And it is set to roughly double again by the end of next year, according to data from the Electric Reliability Council of Texas. “Solar is producing 15 percent of total energy right now,” Joshua Rhodes, a research scientist at the University of Texas at Austin, said on a sweltering day in the state capital last week, when a larger-than-usual share of power was coming from the sun. So far this year, about 7 percent of the electric power used in Texas has come from solar, and 31 percent from wind. The state’s increasing reliance on renewable energy has caused some Texas lawmakers, mindful of the reliable production and revenues from oil and gas, to worry. “It’s definitely ruffling some feathers,” Dr. Rhodes said.

Guatemalans are fed up with corruption ahead of an election that may draw many protest votes (AP) As Guatemala prepares to elect a new president Sunday, its citizens are fed up with government corruption, on edge about crime and struggling with poverty and malnutrition—all of which drives tens of thousands out of the country each year. And for many disillusioned voters—especially those who supported three candidates who were blocked from running this year—the leading contenders at the close of campaigning Friday seem like the least likely to drive the needed changes. Guatemala’s problems are not new or unusual for the region, but their persistence is generating voter frustration. As many as 13% of eligible voters plan to cast null votes Sunday, according to a poll published by the Prensa Libre newspaper. Some of voters’ cynicism could be the result of years of unfulfilled promises and what has been seen as a weakening of democratic institutions. “The levels of democracy fell substantially, so the (next) president is going to inherit a country whose institutions are quite damaged,” said Lucas Perelló, a political scientist at Marist College in New York and expert on Central America. “We see high levels of corruption and not necessarily the political will to confront or reduce those levels.”

Chile official warns of ‘worst front in a decade’ after floods, evacuations (Reuters) Days of heavy rainfall have swollen Chile’s rivers causing floods that blocked off roads and prompted evacuation in the center of the country, amid what has been described as the worst weather front in a decade. The flooding has led authorities to declare a “red alert” and order preventive evacuations in various towns in the south of Santiago. “This is the worst weather front we have had in 10 years,” Santiago metropolitan area governor Claudio Orego said.

Crisis in Russia (NYT/AP) A long-running feud over the invasion of Ukraine between the Russian military and Yevgeny Prigozhin, the head of Russia’s private Wagner military group, escalated into an open confrontation. Prigozhin accused Russia of attacking his soldiers and appeared to challenge one of President Vladimir Putin’s main justifications for the war, and Russian generals in turn accused him of trying to mount a coup against Putin. Prighozin claimed he had control of Russia’s southern military headquarters in the city of Rostov-on-Don, near the front lines of the war in Ukraine where his fighters had been operating. Video showed him entering the headquarters’ courtyard. Signs of active fighting were also visible near the western Russian city of Voronezh, and convoys of Wagner troops were spotted heading toward Moscow. The Russian military scrambled to defend Russia’s capital. Then the greatest challenge to Russian President Vladimir Putin in his more than two decades in power fizzled out after Prigozhin abruptly reached a deal with the Kremlin to go into exile and sounded the retreat. Under the deal announced Saturday by Kremlin spokesman Dmitry Peskov, Prigozhin will go to neighboring Belarus. Charges against him of mounting an armed rebellion will be dropped. The government also said it would not prosecute Wagner fighters who took part, while those who did not join in were to be offered contracts by the Defense Ministry. Prigozhin ordered his troops back to their field camps in Ukraine, where they have been fighting alongside Russian regular soldiers.

In Myanmar, Birthday Wishes for Aung San Suu Kyi Lead to a Wave of Arrests (NYT) In military-ruled Myanmar, there seemed to be a new criminal offense this week: wearing a flower in one’s hair on June 19. Pro-democracy activists say more than 130 people, most of them women, have been arrested for participating in a “flower strike” marking the birthday of Daw Aung San Suu Kyi, the civilian leader who was ousted by Myanmar’s military in a February 2021 coup. Imprisoned by the junta since then, she turned 78 on Monday. The protest—a clear, if unspoken, rebuke of the junta—drew nationwide support, and many shops were reported to have sold all their flowers. Most of the arrests occurred on Monday, but they continued through the week as the military tracked down participants and supporters. In some cities and towns, soldiers seized women in the streets for holding a flower or wearing one in their hair. Some were beaten, witnesses said. The police have also been rounding up people who took to Facebook to post a birthday greeting or a photo of themselves with a flower. Phil Robertson, the deputy Asia director for Human Rights Watch, called the campaign the latest example of the “paranoia and intolerance” of Myanmar’s military rulers.

Sweltering Beijingers turn to bean soup and cushion fans to combat heat (Washington Post) China’s national weather forecaster issued an unconventional outlook this week: “Hot, really hot, extremely hot [melting smiley face],” it wrote Tuesday night on Weibo, China’s answer to Twitter. It was imprecise, but it wasn’t wrong. The temperature in Beijing hit 106 degrees Fahrenheit on Thursday, a public holiday for the Dragon Boat Festival. It was the highest June recording since 1961. Visiting the Great Wall was “like being in an oven,” said Lin Yun-chan, a Taiwanese graduate student on her first trip to Beijing. The heat wave is almost the only thing anyone can talk about. Much of the online discussion revolves around food. People are sharing advice about the most hydrating snacks for the hot weather: mung bean soup and sour plum drink are popular options. Entrepreneurs looked for ways to capitalize on the heat wave: One promoted a seat-cushion fan designed to combat a sweaty butt, while tourism companies touted trips to the south of the country, which is usually hotter but currently less so.

Your next medical treatment could be a healthier diet (WSJ) Food and insurance companies are exploring ways to link health coverage to diets, increasingly positioning food as a preventive measure to protect human health and treat disease. Insurance companies and startups are developing meals tailored to help treat existing medical conditions, industry executives said, while promoting nutritious diets as a way to help ward off diet-related disease and health problems. “We know that for adults, around 45% of those who die from heart disease, Type 2 diabetes, stroke, that poor nutrition is a major contributing factor,” said Gail Boudreaux, chief executive of insurance provider Elevance Health speaking at The Wall Street Journal Global Food Forum. “Healthy food is a real opportunity.”

[mariewaltonrealtor]

The Upcoming Rate Cut: 5 Things Homebuyers Should Consider

The Upcoming Rate Cut: 5 Things Homebuyers Should Consider

[hakesbros]

San Antonio Actual Estate Discover Homes & Homes For Sale In San Antonio, Tx

Family-owned and operated, we’ve spent over 50 years building a sterling popularity as some of the trusted homebuilders in Texas and are committed to a convention of excellence. We offer new development homes which are move-in prepared and obtainable to build in Austin, Dallas / Fort Worth, Houston and San Antonio. All Perry homes include smart home expertise and an industry-leading new home guarantee. Our homes are designed for a variety homes for sale san antonio tx of life, are situated in the most desirable communities and are built to final. A new report from on-line actual property itemizing service Zillow says sellers have cut listings of low-, middle-, and high-price tiered homes in San Antonio in July. Sellers reduce 15% of mid tier listings, the very best quantity out of the three, with only 13.8% of excessive tier and eleven.3% of low tier listings being minimize.

Experience 360-degree, self-guided tours of all of our new home designs. See each design from avenue level or dollhouse floorplan view. Explore home and lot areas and availability in addition to the community format and model home location. Please zoom out or pan the map to view nearby communities. You can present feedback any time utilizing the Help button at the top of the page. The LoopNet service and data supplied therein, while believed to be accurate, are offered "as is".

You might consider checking our present record of obtainable companies for sale in San Antonio. You would possibly uncover a possibility to purchase a turnkey enterprise with a longtime buyer base. Search through hundreds of Commercial Real Estate listings currently out there for sale near San Antonio, TX. Save this search.

Contact an area real property skilled or the college district for current info on faculties. This info isn't meant to be used in determining a person's eligibility to attend a faculty or to make use of or benefit from other metropolis, town or local companies. Prepare and present paperwork together with real property related documents to customers buying a new Toll Brothers home. Inventory, however is still new homes san antonio attempting to catch up from the pandemic demand and the increase in mortgage rates made it harder to borrow larger quantities at an affordable fee. A 30-year fastened rate mortage is at present sitting at 5.22% after the U.S. federal interest rate increased. This secluded upscale group provides homeowners a hill nation way of life with the convenience of shopping, eating, and leisure nearby!

Please contact us should you can not properly experience this web site. This information just isn't verified for authenticity or accuracy and is not guaranteed and may not replicate all exercise in the market. If you're seeking to buy a house in San Antonio, TX, you've got come to the proper place. Coldwell Banker keeps you updated with the newest San Antonio MLS listing home builders in san antonio - including new homes for sale, townhomes for sale, condos for sale, foreclosed homes for sale, and land for sale. With Coldwell Banker's cellular app and website, you'll have the ability to customise your San Antonio home search to assist find the right place for you, from the location you like to the variety of bedrooms and bogs. Try checking out our interactive maps, photos, and faculty info.

New homes for sale within the San Antonio, Texas, space, Chesmar Homes has you coated. Texas Real Estate Commission Consumer Protection Notice Sotheby's International Realty Affiliates LLC absolutely helps the rules of the Fair Housing Act and the Equal Opportunity Act. Sotheby's International Realty, the Sotheby's International Realty brand homes for sale san antonio, "For the Ongoing Collection of Life" and RESIDE are registered service marks owned or licensed to Sotheby's International Realty Affiliates LLC. Say YES when alternative knocks, stay out-loud, and enjoy every minute in a Gatherings 55+ group.

Monte Vista residents value high quality, preservation and neighborhood involvement. Various occasions and meet-ups are held all year long to encourage residents to meet their neighbors and keep the cohesive community sturdy. The choices are topic to errors, omissions, changes, including worth, or withdrawal without notice. Search for San Antonio luxurious homes with the Sotheby’s International Realty network, your premier resource for San Antonio homes.

Have or be prepared to obtain a real property salesperson license. There are additionally openings for knowledgeable actual property salespersons and broker-salespersons. Austin sellers cut price of sixteen.5 %, 17.6 %, and 14% of listings within the low, mid, and excessive tiers respectively. Prices, plans, specifications new home builders san antonio, square footage and availability topic to alter without notice or prior obligation. Dimensions and square footage are approximate and should range upon elevations and/or options chosen. Elevation materials could range per subdivision requirement.

This fixer higher is zoned C1 and is ideal for a small retail retailer or workplace house. Royal Oak Estates is a gated neighborhood offering eighty' wooded homesites. Select a smaller number of properties and re-run the report.

[collincountyhomes]

Reading Time: 5 minutesFederal Reserve Rate Cut – Discover What It Means for Housing Prices...

[alitonfinancetexas]

Specialized Mortgage Lender in Texas

A reverse mortgage is a kind of finance accessible to homeowners aged 62 and above. It enables them to borrow against their home equity. They will receive either a lump sum, fixed monthly payments, or a line of credit through the reverse mortgage scheme. Traditional mortgages require regular payments. But this is not the case with reverse mortgages in Texas. The borrower is not required to repay the debt during their lifetime. The loan is repaid when the homeowner passes away, permanently relocates, or sells the property. Senior homeowners in the USA are now realizing the value of their property and going with reverse mortgages for safe living.

Mortgage refinance in Texas offers essential funds to seniors whose wealth is primarily in their home equity (the home's market value minus any existing mortgages). While even the best reverse mortgage options can be costly and complex, they are more suitable for some homeowners than others. A primary objective of a reverse mortgage is to assist senior homeowners in converting a portion of their home equity into an additional income stream.

Are you leveraging this opportunity to expand your business offerings and boost your market share? Are fluctuating volumes of reverse mortgage documents hindering your ability to scale rapidly? Consider outsourcing reverse mortgage support services to Aliton Finance Texas. They can meticulously evaluate loan applications, identify potential risks, and ensure timely processing of eligible applications.

As a specialized reverse mortgage lending company, Aliton Finance Texas provides you with a team of skilled, certified, and experienced reverse mortgage experts. Their mortgage refinances experts in Texas deliver technology-powered solutions to automate redundant tasks. They can simplify the complex processes. They will increase your market share, improve your revenue, and minimize churn. They also eliminate operational overhead with their customized reverse mortgage assistance. They offer several attractive benefits that traditional banks cannot match.

Quicker Loan Closures

Obtaining approval and payment from conventional banks for standard financing involves extensive paperwork and prolonged reviews. The process requires multiple rounds of internal approvals and can take up to 90 days or more. The approval process in the case of a reverse mortgage in Texas takes a few days if you go with a reputed mortgage refinance service in Texas. It is useful to take a reverse mortgage loan to settle the future old age. Won’t you have the cash on hand to fund the medication or education, living, or a deal out of pocket? Working with mortgage refinance in Texas is often the quickest way to get it.

Fewer requirements to approve loans

A key advantage of taking a reverse mortgage in Texas over a traditional bank loan requires less paperwork. Conventional lenders are more interested in the value of the property rather than the income or credit history. They can assess the risk and may reject deals for various reasons. But getting a reverse mortgage in Texas is typically simpler.

Flexible Service

Working directly with private mortgage refinance services in Texas will bring you flexibility. They provide the chance to negotiate interest rates or loan terms that are often unavailable with traditional loans. Naturally, most lenders still follow general best practices to mitigate risk. Negotiating with the mortgage refinance service is far simpler than trying to convince a bank! Customers with reverse mortgages no longer have to make mortgage payments as well.

If you’re currently managing, or plan to manage, a reverse mortgage then Aliton Finance Texas, give you the best suggestion and make your job easy. If you’re seeking a capital partner, call Aliton Finance Texas to see what financing options you qualify for! They assure giving the older people an access to their much-needed equity.  

[startmyhome]

Guide to Affordable Homes, Seller Financing, and Rent-to-Own Options

Finding Affordable Homes for Sale

The dream of homeownership may be impossible to achieve due to the current financial situations but it should not be completely impossible. When most people think of purchasing a home they think of putting down a large sum up front plus a large mortgage payment each month, but there are many affordable homes for sale in this country if one simply looks for them.

Explore Local Markets: Their price is not constant but depends on a number of factors, majorly the location the search is being conducted from. Prices tend to be relatively high in large cities, but if you look for the lower costs, they are in the suburbs or in new areas.

Government Assistance: It is time to delve into the options like FHA loans that require a smaller down payment, or into USDA loans focusing on the provision of financial assistance for the buyers with low to middle incomes living in the rural areas.

Consider Alternative Options: There are other strategies that can be used to make houses more affordable these include going for foreclosed or highly prepossessed houses. Such properties can be bought at relatively lower prices compared with other similar houses in the market due to the various discounts accorded to the buyer.

Exploring Seller Financing Homes for Sale

If you are searching for a start home but access to mortgage funding is out of reach for one reason or the other like bad credit or no enough cash for down payments, seller financing homes for sale may interest you. Such financing means enables the buyer to pay the seller without using money from a bank through a series of equal payments.

Bypassing Traditional Lenders: This has the benefit of avoiding banks which is a major advantage of offer financing. This is especially beneficial to the buyers with a poor credit record or those who cannot meet the strict requirement of the bank loans.

Flexible Terms: Unlike banks, the sellers are in a position to negotiate on the terms of sale, for instance better interest rate or longer period whereby payment will be made.

Benefits:

Flexible down payments and repayment schedules

Easier approval process for buyers with bad credit

Potential for personalized loan terms

Key Takeaway: Seller financing homes for sale provide an excellent alternative to traditional mortgage loans, offering flexibility, faster closings, and fewer hurdles for buyers who may not qualify for a traditional loan.

Rent-to-Own Homes in Florida

If you are not yet in a position to purchase a house but would like to be on your way to owning a home then finding homes for rent to own homes in Florida is the way to go. It also enables one to lease a property with a view of purchasing the same at an agreed later date in the future.

A Portion of Rent Goes Toward the Purchase: This is in fact very common with most rent-to-own arrangements where you are given an option to apply some fraction of your rent towards your future purchase. This enables one to start saving toward the home while he/she is dwelling in it.

Locked-in Purchase Price: Purchase price is another advantage which is achieved because the clients agree on the price they will have to pay at purchase when they rent these homes. It is worth mentioning the fact that no matter the rates of growth in the value of the property, you buy it at a set price at the time of the agreement.

Seller Financing in Texas: A Unique Opportunity

Sellers who need to close their home are also a favorite of homebuyers in Texas because of the freedom that comes with seller financing as compared to the ordinary mortgage credit. Texas has an expansive real estate market, with various properties available and seller financing Texas can be more flexible for buyers who might not meet the standard requirements for a bank loan.

Seller as Lender: Seller financing Texas is an arrangement whereby the seller acts as the financier and thus the buyers can pay the financier in installments instead of going for a conventional loan.

Customizable Terms: One major advantage for buyers is that, unlike in the case of secured business finance, they can discuss the repayment schedule with the seller, which also imply greater flexibility regarding the repayment of the financing.

Key Takeaway: Seller financing in Texas allows buyers more flexibility and control over their financing arrangements, with faster closing times and easier terms.

Rent-to-Own Homes in Texas: A Gradual Path to Ownership

The rent to own texas homes are also the same as in Florida in that they give equal chances of owning a home to people who are not yet financially willing to own a home. Moreover, getting an option to rent to own homes in a competitive and vigorous real estate environment like Texas makes you enjoy today’s prices even while setting your economic base.

Build Equity Over Time: A portion of your rent goes toward the future purchase of the home, allowing you to gradually build equity while renting.

Time to Improve Credit: This option gives renters the flexibility to improve their credit or save for a larger down payment, ensuring they’re in a better position when it’s time to purchase the home.

Flexibility and Security: With rent-to-own homes in Texas, you can test out a home and community before fully committing to buying it, giving you peace of mind in your decision.

Finding Seller Financing Homes Near You

If you are interested in local options then you will be searching for seller financing homes near me which if you cannot afford a traditional home loan can be a wonderful exciting opportunity.

Easier Access to Properties: This means that searching locally always has a tendency of coming across homes that are not so popular in the market, and thus; give you better chances of achieving flexible marketing.

Personalized Agreements: When buying products directly from local seller, you are able to discuss appropriate terms and time suitable for your cash flow.

Key Takeaway: Searching for seller financing homes near me can help you find nearby homes with more flexible buying options, giving you better access to properties that may not be available through traditional means.

Conclusion: A World of Flexible Homeownership Opportunities

When most people are asking for homes for sale, cheap homes for sale, seller financing homes for sale or owners who offer to let you rent to own in areas such as Florida or Texas the market has a lot to offer. Through such processes, you can actually fulfill your dream of owning a house even if it may be tough going through the standard financial channels.