The number of hours of work required to cover the mortgage payment on an average priced house increased from 48 hours in 2013 to 104 hours in 2022.
mortgage
Posted inHousing
How first-time buyers are finding success — and frustration — in Colorado’s housing market
Higher interest rates and for-sale prices may be a barrier, but for those ready to plunge into home ownership, the best advice is to get educated.
Posted inEconomy, Housing, News
In Colorado’s current real estate market, is it better to be a renter right now?
What’s Working: This is a segment of our weekly What’s Working column. Read the full column. >> Sign up for the newsletter Feel like there’s no chance you can buy a house? You may be better off renting anyway. With national average mortgage payments of $2,576.39, that’s above average rent of $1,589 in Colorado, according […]
Posted inEconomy, Housing, News
In Colorado’s heated real estate market, is it better to be a renter right now?
What’s Working: This is a segment of our weekly What’s Working column. Read the full column. >> Sign up for the newsletter Feel like there’s no chance you can buy a house? You may be better off renting anyway. With national average mortgage payments of $2,576.39, that’s above average rent of $1,589 in Colorado, according […]
Posted inBusiness, Economy, Housing, News
What’s Working: Same Denver house, same price, but $190 more per month
The biggest inflation news this week erupted Wednesday as the Federal Reserve announced the largest interest rate increase since 1994. While expected, that doesn’t make it any easier for those hunting for a new house, especially in Colorado, and realizing the monthly cost may have gone up hundreds of dollars in one week. But don’t […]
Posted inBusiness, COVID, Housing, News
Colorado launches program to help homeowners struggling with their mortgage payments
A new Colorado pilot program to help struggling homeowners make past-due mortgage payments is now up and running and offering up to three months of payments. The Emergency Mortgage Assistance Program, or EMAP, has been in development since $10 billion in the American Rescue Plan was set aside by Congress in March for housing aid. […]
Posted inBusiness, Economy, News
Colorado’s mortgage relief program will pause after funds are used up
Colorado’s housing assistance program, which has provided $58.9 million in rent or mortgage help during the pandemic, will be placed on hold starting Friday as it waits for new federal funds to aid struggling homeowners, according to the state Department of Local Affairs. The rent-assistance programs, however, will continue under a different name in order […]
Posted inBusiness, COVID, Economy, News, Politics and Government
As 2020 winds down, renter programs get more money as Colorado’s state eviction moratorium is set to end
Struggling renters get one more month to figure out how to pay their rent, thanks to an extension of the national eviction moratorium in the new federal COVID-19 relief bill. There’s also a new pot of federal money headed to Colorado just for rental assistance in the $908 billion Coronavirus Response and Relief Supplemental Appropriations […]
Posted inBusiness, COVID, News
Colorado has money to help struggling renters, but some landlords won’t play ball
Federal and state funding has helped thousands of Coloradans pay their monthly rent or mortgage bills during the pandemic, and in turn, helped nearly 3,000 landlords get their own bills paid. But while there’s cash assistance available to both, the program heavily relies on landlords — and if landlords are unwilling to participate, renters are […]
Posted inBusiness, COVID, Growth, News, Politics and Government
“COVID is still affecting everything”: Fears still mounting over a forthcoming Colorado eviction surge
Tenants and renters’ rights advocates across Colorado say eviction moratoriums and delays fail to protect large swaths of lower-income families from the crushing financial fallout of the coronavirus pandemic, as displacement quietly builds in the renting economy. Optimistic tallies of on-time rent payments from the Colorado Apartment Association reflect higher-income renters in higher-end units owned […]