A Harvard University study finds that 51 percent of US renters are now over 40 years old, showcasing the decrease in US homeownership.
Over the past twenty years, there has been an eight percent increase in renters over 40, which highlights the lasting impact of the housing and financial crisis. The NC Homeowners Alliance is dedicated to promoting homeownership in North Carolina and we want to keep our members informed of the latest housing market information. Please take a moment and check out the article below for more insights on homeownership.
Today in Burlington, Governor Pat McCrory proclaimed today as "Historic Tax Credit Day" in celebration of the reinstatement of this vital tax credit. The Homeowners Alliance, with support from over 16,000 homeowners statewide, helped push this tax credit back into favor with NC legislators.
The Historic Preservation Tax Credit (HPTC) will be a crucial part of revitalizing towns across the state and increasing the value of homes in those areas. The HPTC is one of several legislative issues the Alliance has been working on over the last 18 months to protect homeowner rights. Read the article here to learn more about the impact homeowners like you can have when united behind a common cause.
Last week popular Eastern NC radio show "Talk of the Town with Henry Hinton," hosted Mark Zimmerman, chairman of NCAR's Government Affairs Committee, to speak about the NC Homeowners Alliance.
Zimmerman described the importance of protecting the Mortgage Interest Deduction (MID) for homeowners as budget negotiations continue at the General Assembly. He also detailed the unique nature of the Alliance as a grassroots organization and the significance of homeowner involvement. Zimmerman said, "This is an organization that is empowering homeowners to bring their concerns directly to legislators...this is the first time that homeowners have had a collective voice to speak on their own behalf." Thanks to Mark Zimmerman for his commitment to the Alliance and for speaking on our behalf. Click on the image below to listen to the interview and let us know how the Homeowners Alliance can help you!
As part of our commitment to inform you of important news, we have uncovered an article detailing the decline in the U.S. homeownership rate featured in the most recent Census Bureau report.
The American dream of homeownership is still alive but struggling as we move further away from the recession. While the economy has recently experienced growth, the levels of homeownership maintain a steady decline. Bloomberg News reporter Kathleen Howley investigated this phenomenon in the article available below. The U.S. homeownership rate was 63.4 in the second quarter, falling from a first quarter total of 63.7. As home values rise, buyers are finding it more difficult to purchase houses while maintaining financial security. Demand for rental properties continues to increase as homeownership levels reach the lowest point since 1967. Please take a look at the article for further analysis and information.
Moving into a new home can be daunting, especially during this summer heat wave!
We recently stumbled on this House Logic article that outlines six easy steps you should take when moving into your home. Whether it's your first home or your fifth, these suggestions are great for anyone preparing to move. Take a look at the article below and let us know if you have any helpful moving tips as well!
As the country's economy slowly improves and mobility increases in the work force, many working families have found new opportunities and communities in smaller cities around the United States.
Brian Clark of the real estate magazine, On Common Ground, reported on a family’s journey from bustling Boston, MA to quaint Dubuque, IA. While the move initially panicked the former urbanites, the family grew to love and appreciate the “lower housing costs, friendliness and slower pace of life.” In North Carolina, cities like Asheboro and Mount Airy take a similar approach with the help of the Historic Preservation Tax Credit to attract families and create a friendly community. The dream of homeownership is alive and well in places like this all over North Carolina. Please check out the article below and let us know what small cities have to offer you and your family!
As the costs of both homeownership and renting rise, it's the wrong time to cut the mortgage interest tax deduction.
The American Dream of homeownership - for years a powerful milestone for young families - is becoming harder to achieve. At the same time, new research shows that rents are increasing and housing costs are becoming a larger part of family budgets.
We know that now is the wrong time to increase costs for homeowners. North Carolina needs to protect the Mortgage Interest Deduction to help families obtain or retain their homes.
State senators adopted a budget bill this week that bears little resemblance to the version approved by the House last month.
There are major differences between the House and Senate versions in areas important to North Carolina homeowners:
Speaker of the House Tim Moore told reporters that the House won’t agree to the Senate’s changes. A small group of legislators from the House and Senate – called a conference committee – will be appointed to negotiate a compromise version of the budget that can pass both chambers.
The North Carolina Homeowners Alliance is committed to protecting tax benefits for homeowners and supporting policies that strengthen our economy.
The Property Insurance Fairness Act, which recently passed the North Carolina House, will force insurance companies to provide more information to consumers about rate increases. The legislation now moves to the Senate’s Committee on Insurance.
Many homeowners have received high-pressure “consent to rate” letters from their insurers, demanding they pay rates above the regulated maximum. The Property Insurance Fairness Act will require insurance companies to disclose the lower regulated rate. This information will help homeowners negotiate with their existing insurer or shop for better deals in the insurance market.
Insurers have been using the “consent to rate” legal loophole to force consumers to pay more than the legally regulated homeowner insurance rate. Last year, 40 percent of homeowners insurance policies charged more than the regulated maximum rate. The Property Insurance Fairness Act will help consumers make more informed choices about their insurance.
This week, the Property Insurance Fairness Act passed the North Carolina House Insurance Committee, taking its first major step at the General Assembly. There is still a long way to go, but clearing this committee was an important early victory.
The NC Homeowners Alliance is thanking our legislators for their focus on the Property Insurance Fairness Act, which reforms the insurance rate making process and eliminates insurance companies' practice of sending Consent to Rate letters to consumers. Look for the following 30-second television ad on Capital Tonight and NC Spin.