Industry News

The easy way to get preapproved for a mortgage

Tom Oslund

Preapproval is how much a lender is willing to lend you to purchase a home, based on your credit and financial strength. While preapproval is just an estimate of how much mortgage you can afford, it’s one of the most important steps in the home-buying process. With a preapproval letter in hand, you can demonstrate to any real estate agent that you have the ability to pay for a house he or she...

When millennial's battle boomers over housing

Tom Oslund

In "Generation Priced Out," Randy Shaw examines how boomers have blocked affordable housing in urban neighborhoods, leaving millennial homebuyers in the lurch.

The baby boomer/millennial housing mismatch is well known: As boomers age, an upcoming glut of suburban and exurban homes will stand empty and unwanted, leaving both generations at a loss. Downsizing empty-nesters won’t find...

American home-ownership increases again as housing market looks for balance

Tom Oslund

More Americans became homeowners in the summer months, fresh evidence of a housing market that’s finding some stability after several rocky years.

The national homeownership rate was 64.4% in the third quarter, the Census Bureau said Tuesday. That’s a half-percentage point higher than a year ago.

After touching an all-time high of 69.1% in 2004 as the housing bubble inflated, the...