Homeowners Sorry They Chased The Market
Posted on 04/20/2023
A new report out of the National Association of Realtors takes notice that “A large crop of unhappy homeowners is emerging after having time to settle with their hasty pandemic purchase in the last couple of years. Buyers at the time were bidding up home prices to beat out fierce competition.” Over 75% of homeowners surveyed by Hippo Insurance who bought in 2021-2022 now regret their decision.
However, with the cost of buying a new home going up, it will be difficult for homeowners who locked in a low rate to sell their homes and buy another, limiting the flexibility to relocate for home owners have been accustomed to having options over the decades.
FHFA Redistributes Wealth
The Biden Administration is planning on helping high-risk borrowers at the expense of financially sound buyers. The Federal Housing Finance Agency will charge those with down payments and high credit scores to “increase pricing support” for those who struggle to afford a home, according to FHFA Director Sandra Thompson. Critics say the method is not the best plan to help those with less means to acquire houses.
