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What Salary Do You Need to Afford A Home in Phoenix?

What Salary Do You Need to Afford A Home in Phoenix?

  By Stacey Federoff  –  Digital Producer, Pittsburgh Business Times Dec 2, 2017, 9:38am Median home prices have risen in most major U.S. cities over the last year, including Phoenix. So when factoring in interest, taxes and insurance payments, how much would you really need to make to afford a home? See the slideshow above to find out where Phoenix and 49 other large cities rank, including where national numbers fit among them, according to HSH.com. With little new housing supply, affordability continues to be a problem in most cities, the researchers conclude. Overall a...
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What Does the Mortgage Bankers Association Say About Home Ownership?

What Does the Mortgage Bankers Association Say About Home Ownership?

From the Mortgage Bankers Association - MBA.com: Source: MBA-adjusted counts from Current Population Survey  We tend to equate owner-occupied housing with single-family homes, and renter-occupied housing with multifamily apartment complexes.  And traditionally that was largely the case.  Between 1987 and 1997, for example, 90 percent of the growth in single-family housing was through owner-occupied households, and two-thirds of the growth in multifamily housing was through renter households.  The same generally held true from 1997 to 2007.  But the last decade has unfolded very differently.  From 200...
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Mortgage Interest Deduction

Mortgage Interest Deduction

What really will be the impact of the mortgage interest deduction? Mortgage Matters   With the median house value in the US at $205,000, capping the mortgage interest deduction on loan principal eligible for the deduction to $500,000 from the current $1,000,000 would impact just 5% of home owners. Moreover, just 6.7% of the benefits of the MID go to the middle 20% of households, compared to 72.6% that goes to the top 20% of households, including 31.5% that goes to the top 5%.   ...
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