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A Typical Black Household Can Only Afford Starter Homes in 10 Major Metros

A Typical Black Household Can Only Afford Starter Homes in 10 Major Metros

by Phil Hall | Jun 27, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A typical Black household can only afford a starter home in 10 of the nation’s 50 most populous metros, according to a new report from Redfin (NASDAQ:RDFN). In comparison, the typical White household can afford a starter home in 32 of the 50 metros. For its report,...
Utah’s Governor Proposes Building 35,000 Starter Homes by 2028

Utah’s Governor Proposes Building 35,000 Starter Homes by 2028

by Phil Hall | Dec 7, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Utah Gov. Spencer Cox has announced a plan to build 35,000 starter homes by 2028. According to a report in the Deseret News, Cox dubbed his plan the Utah First Homes program and framed the proposal as a strategy to address the state’s housing shortage. Cox unveiled...
First-Time Buyers Need to Earn 13% More Than a Year Ago to Purchase Starter Home

First-Time Buyers Need to Earn 13% More Than a Year Ago to Purchase Starter Home

by Phil Hall | Jul 28, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

What a difference a year makes – according to Redfin (NASDAQ:RDFN), a first-time homebuyer must earn roughly $64,500 per year to afford the typical “starter” home, up by $7,200 or 13% from one year earlier. Redfin reported the typical starter home sold for a record...
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