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Climate risk could take $1.5 trillion out of U.S. real estate

Housing Wire

Climate risk awareness refers to a particular region’s vigilance against climate risks in terms of policies and practices. Incoming residents could economically benefit more climate-resilient regions, as they would likely draw in more property tax income. real estate market.

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With lower costs and other value, rural areas are enticing for older homebuyers

Housing Wire

People come from Florida , Texas, Georgia or from Illinois in an effort to avoid the traffic and the high taxes and some people are buying a farm and hope they will have a piece of land for their kids, he said. Costs are also generally lower for everything from property taxes to groceries or car insurance, he said.

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CFPB warns consumers about home equity contracts, comparing their features to reverse mortgages

Housing Wire

The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.

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54% of baby boomers say they’ll never sell their homes

Housing Wire

In a traditional sense, the term “silver tsunami” refers to pent-up housing stock that older homeowners will eventually choose to sell, which would have the effect of flooding the market with new inventory. About half (49%) worry about property tax increases, while 42% are concerned about rising utility costs.”

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NRMLA opposes New York reverse mortgage disclosures bill

Housing Wire

In each prior instance, the bill has never progressed beyond being referred to a Senate committee for additional debate. Following its most recent reintroduction, it has been referred to the Senates special committee on aging. New York state has passed at least two consequential reverse mortgage laws in recent years. In 2021, Gov.

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Property Taxes: Where Americans are Paying Most

Appraisal Buzz

How much consumers pay in property taxes —often referred to as real estate taxes— varies significantly and can be influenced based on the home’s worth and location. Experts suggest homeowners in some metros can expect to shell out … The post Property Taxes: Where Americans are Paying Most appeared first on DSNews.

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Biden to propose national rent hike cap of 5%

Housing Wire

At the first presidential debate three weeks ago, Biden included a reference to capping rent hikes at 5% but didn’t provide any details. In his March State of the Union address , Biden called on lawmakers to enact a $10,000 tax credit for first-time homebuyers and people who sell their starter homes.

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