NAR: Higher Home Prices in 82% of U.S. Metros
11% of metros saw double-digit price increases in 3Q, even though buyers faced a one-year mortgage payment increase of 19.2%. In 2Q, prices rose in only 58% of metros.
Home Affordability Hits Lowest Point in 10 Years
The National Association of Home Builders’ 3Q affordability study found that just 37.4% of Americans can afford a median-priced home in their metro area.
Fla. Island Purchased with COVID Disaster Funds
An estimated 10% of pandemic-relief fund recipients committed fraud – a $280B loss. In one case, a Fla. man, now in prison for 5 years, bought a private island.
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