Let's take a minute to celebrate momentum. This work isn't done, but it's moving in the right direction.Just a reminder: homeownership builds wealth.Homeowners have 44.5 times more net worth

Dated: August 31 2020
Views: 1209
When you hear me talking about "affordable housing", my concerns stem from data available compiled by various reputable sources.
From a Florida Housing report:
"...additional statistical information obtained from the 2019 Out of Reach Report prepared by the National Low-Income Housing Coalition concluded that in Florida, the Fair Market Rent (FMR) for a two-bedroom apartment is currently $1,189 per month. In order to afford this level of rent and utilities – without paying more than 30% of income on housing – a household must earn $3,962 monthly/$47,542 annually. Assuming a 40-hour work week, based on working 52 weeks a year, this level of income translates to an hourly wage of $22.86.
The current minimum wage in Florida is $8.46 per hour and the current average wage for renters here in the State is $16.67.
Conclusion: More than 2.5 million low- and moderate-income households in Florida pay more than 30% of income for housing. Low-income renters are the most at risk."
For more, visit www.localhousingsolutions.org
#affordability #affordablehousing #affordablehomes #rentvsbuy #rentvsown #buyahome #housingmarketupdate #firsttimehomebuyer #opportunity #housingmarket #keepingcurrentmatters #starterhome #susanseversonrealtor #essencehometeam
Susan Severson is a Broker Associate and Team Lead at Essence Home Team, brokered by eXp Realty. Ed Severson and Tanner Moseley are Realtors at Essence Home Team, brokered by eXp Realty. Ed and Susan ....
Let's take a minute to celebrate momentum. This work isn't done, but it's moving in the right direction.Just a reminder: homeownership builds wealth.Homeowners have 44.5 times more net worth
The last year has put emphasis on the importance of one’s home. As a result, some renters are making the jump into homeownership while some homeowners are re-evaluating their current house and
Some HighlightsIn today’s whirlwind real estate market, houses are selling at astonishing speed – from sea to shining sea.Four years ago, the average house spent 39 days on the market.
Some HighlightsThe percentage of income needed to afford a median-priced home today is declining, while that for renting is on the rise.This is making buying a home an increasingly