Hillary Hoffower, provided by Published 6:05 am PDT, Monday, April 8, 2019 Westend61/Getty Images Millennials are making three key decisions that are cumulatively wiping out the starter home. The typical millennial is renting longer and buying later, surpassing the need for the starter home. A delay in homeownership gives millennials more time to build wealth — meaning that for some, their first home is a million-dollar luxury home. Some rich urban millennials prefer to rent in the city and buy a vacation home instead of a primary residence. Visit Business Insider's homepage for more stories. Millennials are known for wiping out industries — and the starter home may be next. First-time homebuyers needed 23% of their income to afford an entry-level home in the second quarter of 2018, an increase of 2 percentage points from the previous year, according to The Real Deal. The median price of previously owned homes was $264,800, the most expensive it's … [Read more...] about Millennials are making 3 key decisions that are wiping out the starter home — and it’s changing what homeownership in America looks like
Investors buy homes
By Jeff Collins | Southern California News Group PUBLISHED: March 19, 2019 at 5:02 am | UPDATED: March 19, 2019 at 7:38 am Travis Page, owner of Clover’s Lawn Service, rakes leaves at an Opendoor house on Joltaire Way in Winchester in December. Opendoor became the fourth iBuyer to start operating in Southern California. Although iBuyers have been active since 2014, the online home-buying model didn’t reach Southern California until 2017. (Photo by Frank Bellino, contributing photographer) Southern California is relatively new to the iBuyer trend, which prefers markets with large expanses of cookie cutter tract housing to make it easier to accurately price houses. While iBuying has been in full swing in places like Phoenix for several years, the first iBuyers started working in Southrn California in 2017. In the past six months, RedfinNow expanded from the Inland Empire into Orange and Los Angeles counties. Opendoor and Zillow Offers recently announced plans to expand … [Read more...] about What’s an iBuyer? These companies will buy your home quicker, but at what cost?
Hillary Hoffower, provided by Published 8:51 am PST, Saturday, February 9, 2019 Hero Images/Getty Images Unmarried millennial couples are buying homes together, prioritizing homeownership over marriage. This trend is a result of economic conditions and a shift in attitudes toward marriage — and reflects how different millennials are from their parents. But buying a home as an unmarried couple can have legal and financial risks if not planned for properly. When it came to life milestones, Jessica Booth didn't do things the "traditional" way. One year before getting engaged, Booth purchased a house on Long Island with her boyfriend. "When we bought the house, we really wanted to move in together, but my husband did not want to get an apartment because he didn't want to pay rent toward something he didn't own," Booth told Business Insider. "He was set on getting a house, and it was something I wanted to do with him as well." She added: "We definitely got a lot … [Read more...] about Millennial couples buying homes before they get married are making a risky move that shows how different they really are from their parents
Brexit worries putting people off buying homes in Northern Ireland, says new research BelfastTelegraph.co.uk Brexit is affecting the housing market in Northern Ireland as price growth eases to hit an average of just over £163,000, according to a survey. https://www.belfasttelegraph.co.uk/business/northern-ireland/brexit-worries-putting-people-off-buying-homes-in-northern-ireland-says-new-research-37793608.html https://www.belfasttelegraph.co.uk/incoming/article37794181.ece/ad34a/AUTOCROP/h342/houses%20for%20sale.jpg Email Brexit is affecting the housing market in Northern Ireland as price growth eases to hit an average of just over £163,000, according to a survey. The research by Ulster University and Progressive Building Society said next month's Brexit deadline of March 29 meant that buyers, sellers and investors had been putting off any big decisions during October to December. The report said: "Estate agents' market observations this quarter have been dominated by … [Read more...] about Brexit worries putting people off buying homes in Northern Ireland, says new research
Irish investor buys Lisburn and Co Down shopping centres for £25m BelfastTelegraph.co.uk A Dublin-based investor has snapped up Bow Street Mall in Lisburn and a retail park in Co Down for around £25m, the Belfast Telegraph can reveal. https://www.belfasttelegraph.co.uk/business/northern-ireland/irish-investor-buys-lisburn-and-co-down-shopping-centres-for-25m-37767128.html Email A Dublin-based investor has snapped up Bow Street Mall in Lisburn and a retail park in Co Down for around £25m, the Belfast Telegraph can reveal. The vote of confidence in retail comes despite gloomy news, including the closure of the Flagship Centre in Bangor, Co Down. Also today, a survey by the Royal Institution of Chartered Surveyors said retail in Northern Ireland had experienced a "challenging" close to the year. Bow Street Mall went on the market for £18m in October, a month after former anchor Marks & Spencer announced it was closing its unit. It was put on sale by Bow … [Read more...] about Irish investor buys Lisburn and Co Down shopping centres for £25m