Posts tagged Homeownership
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National links: Homeowners of all political persuasions are NIMBY
NIMBYism is closely tied with homeownership, but political affiliation, not so much. The future of memory care is “cities” for people with dementia, rather than dreary nursing homes. Mesa, Arizona is getting self-driving grocery delivery pod cars this fall. Keep reading…
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Banks find loopholes to deny blacks and Latinos home loans at twice the rate of whites
Here in the Washington region, African Americans are 2.2 times as likely to be denied a home mortgage loan compared to whites, an analysis from Reveal News shows. Latinos are 1.9 times as likely to be denied — even when controlling for factors like the applicant’s income, loan amount, and neighborhood. Keep reading…
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Surprise! The Mortgage Interest Deduction is now even more of a handout to the wealthy
Now that taxes have been filed (phew), we’re starting to get a look at how changes to the tax code made by the Republican Congress are affecting key programs. One of these, the Mortgage Interest Deduction (MID), is a provision that doesn’t achieve its purported goal to increase homeownership and also skews its benefits towards richer households. Keep reading…
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It’s difficult to become a homeowner with limited English proficiency
Most Americans’ biggest source of wealth is their home, but unfortunately homeownership rates are not standard across demographic categories. Thanks to the Urban Institute, we now know that limited Limited English Proficiency (or LEP) depresses homeownership, even when race, income, and other variables are accounted for. The question is why. Keep reading…
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Home ownership can still be a realistic goal for certain Washington-area renters
Housing in the Washington, DC area is undoubtedly expensive, but just how far out of reach is home ownership for current renters? A new measurement from the Urban Institute looks at the portion of renters who can afford mortgages, and found that despite high housing costs, many renters have enough income to buy. Keep reading…
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A fix or a setback? DC may strip tenant purchase rights from all single-family homes
A new bill introduced by councilmember Anita Bonds would exempt single-family homes from the Tenant Opportunity to Purchase Act (TOPA). Realtors say that's necessary to prevent abuses, while tenant advocates say it will harm vulnerable populations. Keep reading…
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$100k or no way: DC’s Home Purchase Assistance isn’t accessible to those who need it most
DC's Home Purchase Assistance Program seems to handicap those citizens it is intended to serve, preventing low-income and young people from participating in one of the greatest wealth-growth assets: home ownership. Keep reading…
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This is why I bought a fixer-upper instead of a flip house
To get everything we wanted in our dream house, including affordability, we compromised on the condition. Although we looked at “flipped” houses, we were concerned about the quality of the renovations. Keep reading…
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These nine charts explain wealth inequality in America (and what to do about it)
These charts illustrate that the racial wealth gap is growing and only continues to with age–and there's a lot more we can do to address the problem. Keep reading…
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I bought a house in Prince George’s County, and I’m really happy I did
There are a lot of complaints about affordability in the DC area, yet many people seem to have a mental block around a great alternative: living or buying a house in Prince George’s County. Keep reading…