Monthly Archives: July 2016

NAR-backed Condo Legislation Passes U.S. Senate, Offers Relief for Homebuyers

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WASHINGTON (July 14, 2016) — The U.S. Senate tonight passed H.R. 3700, the "Housing Opportunity Through Modernization Act," by unanimous consent. This legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and is long supported by the National Association of Realtors®.

Changes include efforts to make FHA's recertification process "substantially less burdensome," while lowering FHA's current owner-occupancy requirement from 50 percent to 35 percent. The bill also… Read More

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Affordability, Student Debt Causing Chasm about Buying between Homeowners, Renters

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WASHINGTON (July 13, 2016) — Despite lackluster economic growth and stark home-price appreciation in several parts of the country in recent months, roughly three-quarters of surveyed households still believe now is a good time to buy a home, but there's a considerable gap in morale between homeowners and renters, according to the latest installment of the National Association of Realtors® Housing Opportunities and Market Experience (HOME) survey1. The survey also found that roughly half of young adults with student debt are uncomfortable about taking on a… Read More

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