Aging baby boomers will change the housing market in ways that have never been experienced before, according to a new report on demographic effects on U.S. housing markets from the Bipartisan Policy Center.
Help finalize indicators for monitoring housing progress in Chittenden County
Do you have ideas about the best measures of Chittenden County's progress toward sustainability?&
VT's rental vacancy rate drops in 2011
According to annual housing vacancy statistics compiled by the Census Bureau, the estimated statewide rental vacancy rate fell in Vermont from 6.1% in 2010 to 4.2% in 2011--the lowest in the nation, with the exception of Oregon. Nationally, the rental vacancy rate was 9.5% in 2011.
Vermont's owner vacancy rate remained about the same in 2011 at 1.7%. The national owner vacancy rate was 2.5%.
Growing inventory of Vermont homes in foreclosure
Like the rest of New England, 3.8 percent of Vermont's home mortgages were in foreclosure as of December 31, 2011, according to the Mortgage Bankers Association National Delinquency Survey.
Hefty down payment requirements may block creditworthy home buyers
According to a recent study, requiring down payments of at least ten percent is less likely to prevent a mortgage from defaulting than other measures, such as requiring borrower income documentation and prohibiting hybrid adjustable-rate mortgages with “teaser payments”.
Middle America home to the cheapest cities in the country
Most of the metropolitian areas in the United States with the least expensive sales prices for single-family homes in the first quarter of 2011 are in the mid-west, according to a National Association of Realtors study covered by the Washington Post.
Residents gather to start planning for Burlington's future
About 30 Burlington residents gathered at Contois Auditorium last night in the first of a series of public engagement sessions to help plan the future of the city's downtown and waterfront areas.
Number of mobile home lots in Vermont fell in 2011
Updated facts about mobile home parks now available from the Vermont Department of Community Affairs include:
Evidence of the benefits of foreclosure mitigation counseling
A recent report shows that homeowners who received foreclosure mitigation counseling were nearly twice as likely to obtain a mortgage modification and at least 67 percent more likely to remain current on their mortgage nine months after receiving one. This not only helped stabilize the homeowners who would have otherwise lost their home, but also saved servicers considerable time and expense.
Young renters from other Northeastern states prevalent among recent movers to Vermont
The largest migration to Vermont came from New York, followed by Massachusetts, New Hampshire, Florida and Connecticut, according to an article in yesterday's Burlington Free Press based on U.S. Census Bureau 2010 American Community Survey estimates. The article explained that of the recent movers to Vermont,