Rate hikes, high prices leave first-time homebuyers ‘frustrated’

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Interest rate hikes and pricey properties present unprecedented challenges for first-time homebuyers.

"Only in New York, in Westchester, can I make a six-figure income and have to move into my parents’ basement to try and save more money to be able to afford a home," first-time buyer Sal Costello told FOX Business’Costello, who’s been looking for a house with his wife for a year and a half, hasn’t been able to close a deal after making three separate offers – and he’s not alone.

Half of homebuyers say their top concern is affordability, according to a U.S. News & World Report survey out this month. Censusshows the median sale price of new homes was $400,600 in February 2022, up from $362,000 one year ago.But there’s another hurdle in the way: 30-year fixed mortgage rates have now hit 4.16% according to Freddie Mac, reaching their highest levels since 2019.

 

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By allowing men to compete in women's sports, the democratic politicians and the NCAA are destroying opportunities for women, making a mockery of its championships, and perpetuating a fraud. Sarasota's Emma Weyant as the best women's swimmer in the 500y freestyle.

Also residential housing permits down 80%. This is going to be interesting to watch.

Beto voted to protect illegal immigrant sexual predators. He opposed a law to require the U.S. to treat illegal immigrants convicted of crimes involving sexual abuse, child molestation, or child abuse as a high immigration enforcement priority. He doesn’t care about kids.

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