Demand for California’s new downpayment assistance program overwhelmed the system and depleted its $300 million budget in less than 12 days, with applications put on pause effective April 7, according to the housing finance agency. The legislator responsible for proposing the program responded optimistically to the news. “It is incredible and inspiring to see that…
California’s ‘Dream for All’ Home Down Payment Program Ran Out of Money in 12 Days
April 18, 2023
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Californiafirst time homebuyerhome loansHome salesNorthern CaliforniaRegional & State NewsSouthern CaliforniaState NewsToni AtkinsUS
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Gen Z and Younger Millennials Shelve Home Ownership
Maria Thomas and Tabor Loynd are among the millions of young Americans who question if they will ever be able to buy a home. Thomas, 29, is currently renting an apartment in the Bronx, New York, and Loynd, 23, lives in Yarmouth, Cape Cod, Massachusetts. Both are working full-time jobs and trying to save as…
Death of the First-Time Homebuyer
August 4, 2022
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Business & MarketsBusiness Columnistsfirst time homebuyerhome pricesOpinionreal estateUSUS Real EstateViewpoints
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You might have learned that supply and demand dictates price before you graduated high school. There’s a less-discussed variable within—the capacity to pay. Say that you and I are crawling through the hot desert, penniless and dying of thirst. We have a high demand for a drink of water. Next, we’re lucky enough to find…
US Housing Market Leaving Buyers in ‘Tears’: Zillow Survey
The process of buying a home in today’s extremely tight low-inventory housing market is leaving 50 percent of homebuyers “in tears” according to the latest survey by real-estate marketplace company Zillow. Among the survey respondents, Gen Zers and millennials, many of whom tend to be first-time home buyers, are more likely to “cry at least…
Should We Offer Over List Price—and by How Much?
Dear Monty: We live in an area where it has become common to hear of bidding wars. We are ready to start looking to buy in the next couple of months. The very idea of paying more than the seller is asking grates my intuition. But we also want to buy. Is it a good…
Santa Ana Allocates $1.2 Million to First-Time Homebuyer Program
November 24, 2021
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Archivedfirst time homebuyerloanLocal NewsNewsRegional NewsRegional-Local NewsSanta AnaSouthern CaliforniaUS
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Santa Ana is expanding a loan assistance program by $1.2 million to help first-time homebuyers purchase homes within the city. Recipients can receive their loans with a zero percent interest fee. “Buying a home isn’t easy these days, so we’re thrilled to provide additional assistance to Santa Ana residents so they can sink roots here in…
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