TTR

Dear Readers, As the housing market comes off a record-breaking year, it’s important to remember that not everyone has a seat at the table. Lenders deny mortgages for Black applicants at an 80 percent higher rate than for white applicants, according to a Zillow report, and the No. 1 reason that Black Americans are denied mortgages is the lack of a credit history. Around 15 percent of Black and Latinx Americans are considered “credit invisible,” meaning they have no credit score, according to the Zillow report. That hinders their ability to obtain financing. Considering that nearly three out of four [...]

Dear Readers, According to ATTOM Data Solutions, there were a total of 9,702 U.S. properties with default notices, scheduled auctions, or bank repossessions in January, down 11 percent compared with December and down 80 percent compared with January 2020. But anyone who watches television news or reads newspapers (yes, some people still do) knows there are millions of Americans struggling to keep their heads above water — people who have lost jobs and either haven’t replaced them or have replaced them with lower-paying jobs. So, what gives? Government forbearance programs have put a pause on many foreclosures throughout the nation. [...]

Dear Readers, We now know who will be the next person to lead the Consumer Financial Protection Bureau (CFPB). President Joe Biden nominated Federal Trade Commission member Rohit Chopra to head the bureau. Chopra is no stranger to the bureau. He helped set it up following the passage of the Dodd-Frank Act and served as the CFPB’s first student loan ombudsman. We may know who will lead the bureau. However, we have no idea what direction it will take. That’s unfortunate. The American Land Title Association and other business groups have endorsed a bi-partisan leadership structure for the bureau in [...]

Dear Readers, It’s said that elections have consequences. Who knew they may impact the location of my next home? According to a survey by Redfin, 42 percent of U.S. residents said they would be hesitant to move to an area where most people have political views different from their own. Twenty-eight percent of survey respondents said they would be hesitant to move to a place where most people are of a different race, ethnicity or religion. The latter result falls under the “what else is new category.” We’ve always been more of a segmented society than we have been a [...]

Dear Readers, A recent analysis by Zillow indicated women are more likely than men to be unemployed, renters and caregivers during the coronavirus pandemic, increasing their risk of becoming severely cost-burdened by housing. No surprise there. The COVID-19 pandemic, it seems, has been a major setback for women. The coronavirus pandemic has interrupted the narrowing of the gender gap, pushing women backward in housing and employment. According to Zillow, year-over-year unemployment claims are 10 times higher for women during this pandemic than what men experienced in the Great Recession. “Direct rental assistance and extending unemployment assistance could help women cover [...]

Dear Readers, It may be bad news that our country is as politically divided as ever. However, where those groups of different political views congregate has had little impact on rising home prices. According to Redfin, for the week ending Sept. 6, the median home price in blue counties nationwide rose 13.1 percent from a year earlier to $346,000. The median home price jumped 11.5 percent to $259,500 in swing counties and increased 10.6 percent to $209,000 in red counties. “Homeowners in counties of all colors — blue, red and purple — are benefiting from a strong housing market even [...]