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.
Legendary musician Louis Armstrong's many contributions to music and culture are on display at a museum built at his longtime Queens, New York residence. Regina Bain, executive director of the Louis Armstrong House Museum, joined Michelle Castillo and spoke with Cheddar News about the iconic trumpeter, the museum's background and history and displayed some historic artifacts from the musician's past.
With several high-profile divorces of longtime powerful couples in the headlines recently, Cheddar News highlighted the importance of protecting your assets after splitting up. Correspondent Janice Lieberman explained how figuring out finances before signing those papers is a must.
