As homes evolve over the years incorporating new technology and innovation into them, current and future home owners have to be sure to keep up on what's coming next. Think smart. Homes are getting faster and more environmentally friendly all over the world and consumers expect them to be in prime locations. People are willing to have a more compact living space in order to be in a prime area featuring restaurants, bars, grocery stores they can walk to instead of using their car.
January 1, 2018, President Donald Trump’s new 7 year tax reform law became effective.
Beginning in June, Fannie Mae, which is one of the biggest government-sponsored buyers of mortgages, will now favor borrowers making efforts to pay down their credit cards when it comes to buying home loans. This means those just paying the monthly minimums may simply not be enough. The company’s counterpart, Freddie Mac, is expected to follow suit.
Homeownership is, for many, the culmination of the American Dream and a major rite of passage. We’ve written many times on this very blog that the fastest path to building financial wealth is — you guessed it — owning a home.