More Americans Become 'Rent-burdened'

DAILY REAL ESTATE NEWS | WEDNESDAY, APRIL 24, 2013

Rental costs have been on the rise, outpacing stagnant salaries and widening the affordability gap, according to a new study by DePaul University.  

"After the housing crisis, households shifted to renting for a number of reasons," says Geoff Smith, co-author of a study on the affordability gap and executive director of DePaul University’s Institute for Housing Studies. "The weak economy, homes lost to foreclosure, increased difficulty receiving a mortgage, a lack of confidence in the housing market and flexibility with renting all contributed to a boom in the rental housing market." 

Households that spend more than 30 percent of their monthly income on rent are often considered “rent burdened.” 

But with rental prices and home prices on the rise, how are families supposed to be able to save up for a down payment on a home? 

"In strong markets, keeping housing affordable is the challenge, while in weaker markets the focus is on community development and rebuilding demand,” Smith says. “In transitional markets, understanding whether the increase in rental demand is short- or long-term will inform the appropriate policy response.”

Source: “Rising rental rates and Stagnant Salaries Widen Affordability Gap,” HousingWire (April 23, 2013)

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http://realtormag.realtor.org/daily-news/2013/04/24/more-americans-become-rent-burdened

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6 Ways to 'Green' a Home

DAILY REAL ESTATE NEWS | TUESDAY, APRIL 23, 2013

More home owners and buyers are ranking energy-efficient and environmentally friendly home features high in surveys. 

AOL Real Estate recently highlighted a few easy steps home owners can take to make their homes more “green”:

• Swap out the light bulbs: LED light bulbs are known as being 80 percent more energy efficient and lasting as much as 25 times longer than incandescent bulbs. 
• Have a programmable thermostat: These devices that allow you more easily to adjust the temperature can save a home owner about $180 a year in energy costs, according to Energy Star. 
• Trade in the old water heater: A heat pump hot water heater is known to be more than twice as efficient as standard electric resistance tanks, according to the AOL Real Estate article. 
• Add aerators to faucets and showerheads: These devices can limit the amount of water that is used.
• Add ceiling fans: “Energy Star-qualified fans are 50 percent more efficient than conventional units and can save up to $15 per year on utility bills,” according to AOL Real Estate. 
• Use Energy Star appliances: For example, replacing a dishwasher that was made before 1994 with an Energy Star-certified one can save $40 on utility bills by using less water. Energy Star-rated refrigerators can save home owners from $200 to $1,100 over the life of the appliance. 

Read more ideas at AOL Real Estate. 

Source: “10 Eco-Friendly Things to Do for Your Home,” AOL Real Estate (April 22, 2013)

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Green Marketing Should Go Beyond Energy Efficiency

http://realtormag.realtor.org/daily-news/2013/04/23/6-ways-green-home

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Each Office Independently Owned and Operated ©2013 Imprev, Inc.

RE/MAX Property Shop 22036 S Ellsworth Rd Queen Creek, AZ 85142

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