News

Biden Administration to Cap Rent Hikes for Some Affordable Housing Units

The cap will limit the amount property owners can raise rents at 10%. The Biden administration has put a cap on how much rents can be increased in some affordable housing units subsidized by the federal government.

Economist Says Housing Affordability in the US Has ‘Collapsed'

Would-be homebuyers now need an annual income of $113,520 to afford a typical home in the U.S. A senior economist at Redfin this week said housing affordability in the United States has "collapsed" as home costs outpace median household incomes.

More Than 500 US Cities Now Have Average Home Prices Above $1 Million: Report

The median home prices in million-dollar cities have increased 4.6% year-over-year. At least 550 cities across the United States are now being dubbed as "million-dollar" cities, which means the typical home value is worth $1 million or more, according to new research.