-
Housing affordability improves, but trend to reverse as rates rise
Source: Palm Beach Post After the surprise Brexit vote this summer, mortgage rates fell below their already rock-bottom levels. Following Donald Trump’s unexpected victory on Nov. 8, mortgage rates jumped. Whether mortgage rates will rise sharply or gradually is anyone’s guess, but the cost of borrowing plays a key role in the direction of the…
-
In Palm Beach County, buying beats renting by a wide margin, Trulia finds
Source: Palm Beach Post For Palm Beach County renters, Trulia chief economist Ralph McLaughlin has some simple advice: Buy a house now. Palm Beach County ranks No. 2 on Trulia’s list of cities where buying beats renting. We’re in a virtual tie with Miami-Dade County. Read more…
-
10% rise in home prices points to seller’s market — but for how long?
Source: Palm Beach Post Palm Beach County’s housing market remains skewed in favor of sellers, although the seller’s market might be easing ever so slightly. The median price of a single-family house sold in September was $316,000, up only slightly from $315,000 in August — but a hefty 10.9 percent increase from a year ago,…
-
As home prices rise, many people can’t find a place they can afford
Source: Palm Beach Post Palm Beach County’s home price rebound is putting the squeeze on affordability. Just 57.7 percent of homes sold in Palm Beach County in the second quarter were affordable to a median-income family, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. That was the lowest level since 2008.…
-
Why I’m Leaving Teaching: A Wellington teacher’s painful decision
Source: Palm Beach Post Heartbreaking – it’s the only word that can describe how it feels to walk away from something that was once your dream. The one job you always wanted to do, the person you wanted to become. For the first time in 10 years, I am not anxiously preparing my classroom, anticipating…
-
Housing bubble crisis: A decade later, where are we now?
Source: Palm Beach Post First came the dizzying boom, a bubble that bestowed overnight riches on anyone fortunate enough to own a home in Palm Beach County. Then came the wrenching crash, a collapse that snatched back the gains and then some. Palm Beach County properties shed billions of dollars of value in a few…
