Your Future Home hosts Baker Machado and Hope King discuss the latest headlines in the housing industry. From rising home costs to the millennial homeowner boom, we have you covered.
The homeownership rate in the U.S. rose in 2017 for the first time since 2004. According to the U.S. Census Bureau, homeownership rose to more than 64% in the fourth quarter of last year. The market was largely driven by millennials who overcame rising prices and shrinking demand to buy their first homes.
Plus, U.S. home prices rose sharply in November driven by a shortage of available housing on the market. The national housing index has posted gains of 5% or more for the last 16 months. It is running at 6.1% above its peak in 2006, which was right before home prices went into a 27.4% freefall. That collapse tipped the U.S. economy into the worst recession since the 1930s.
Two firefighters were killed battling a blaze that began when cars caught fire deep inside a cargo ship carrying 5,000 cars at a New Jersey port, Newark's fire chief said Thursday.
The Philippines is considering banning 'Barbie' following Vietnam's move to bar the movie's commercial release in their country over the film's depiction of a map of the “nine dash line,” a disputed representation of China's territorial claims in the South China Sea.
