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.
Members of the Kappa League mentoring program at Wyandanch Memorial High School in Long Island, NY are preparing for an educational trip to Ghana. Principal Paul Sibblies is on a mission to enrich his students' lives to put some of them in touch with their roots. "When you invest in young people, then it's the greatest investment you can make," he said.
A group of 15 students recently graduated from SANYS U., a six-week program held by the Self Advocacy Association of New York State. The course helps people with disabilities to advocate on their own behalf, learning more about their rights, legislation and issues that matter most.
The minivan is turning 40 years old this year. While it made up just 1.8 percent of the car market in 2022, that number could begin to tick up, as more families increase interest in the car's advantages. Cheddar News' senior reporter Michelle Castillo takes a deeper look at the minivan's lineage.
