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Tag Archives: Homeowners

Study: Tax Reform Will Increase Homeownership Burden

A national study has suggested the current White House plan for tax reform will increase taxes for middle-class homeowners. Families with adjusted gross incomes between $50,000 to $200,000 could see an average annual increase of $815 on their federal income taxes. As federal tax deductions are one of the main incentives for homeownership, it is imperative for organizations in the industry to remain vigilant in working with Congress to draft tax reform that promotes owning a home.

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Moderate Earners Losing Home Selection

The twin realities of the current U.S. housing market‒‒rising home prices and shrinking inventories in nearly every metro‒‒are increasingly putting homes out of reach for middle-income workers within their cities. The typical American worker makes just over $37,000 annually, while the typical American house costs just under $255,000.

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Judge Rules with Plaintiff in Credit Suisse Suit

A federal court ruled recently that Credit Suisse misled homeowners over fees for reinstating mortgages. The Florida judge ruled that homeowners in the suit had provided adequate information that Credit Suisse’s mortgage unit violated the Fair Debt Collection Practices Act. Credit Suisse had sought a dismissal, saying the class had not made a thorough case that the bank had failed to properly disclose debts and fees.

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Seattle Reigns as Most Affordable Tech Hub

According to a recent analysis of West Coast software havens, Seattle is the clear-cut winner in terms of housing affordability, With more affordable condos and detached homes, it far outweighs nearby San Francisco—even with income and other costs of living considered. The median detached home price in Seattle is $610,000 compared to San Francisco’s $1.2 million.

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Americans Flock to Warmer ‘Burbs

Analyses of new Census data show populations are shifting out of the big cities and the Rust Belt and into the Sun Belt suburbs. According to the data, the fastest population growth in the last 30 years has been in Arizona, California, Colorado, Florida, Georgia, Nevada, North Carolina, South Carolina, and Texas. Detroit saw the largest decrease in population with a drop of nearly 20 percent.

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