I inherited a house in San Francisco from my aunt. My aunt had rented her basement to an older couple (probably illegally) for a few years at below market prices. I don’t believe there was a lease, and it’s probably against building code to have tenants in the basement. The couple’s family lives nearby. I … Read more
The average 30-year fixed rate mortgage rate jumped more than 7% on Thursday to 7.1%, according to Mortgage News Daily. Growing fears that inflation may subside are pushing bond yields higher. Mortgage rates roughly track the 10-year US Treasury yield. “Rates continue to move at the suggestion of economic data, and the data hasn’t been … Read more
Institutional investors could control 40% of US single-family rental homes by 2030, according to MetLife Investment Management. And a group of Washington, DC lawmakers think Wall Street needs to get out of the market. “What we’re saying is there’s no investment capital to buy single-family homes,” said Rep. Ro Khanna, a Democrat representing California’s 17th … Read more
gremling | E+ | Getty Images There is often a chasm between theory and practice, what we should be doing and what we are actually doing. Yet when it comes to the longstanding advice to renters not to spend more than 30% of their income on housing, the target is increasingly unattainable, experts say. “The … Read more
