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Back when they rented, first-time homebuyer Erin Hardy and her husband estimate that a third of their income was spent on housing. She said their mortgage is almost double what they were paying in rent.
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High interest rates and inflated house prices continue to prevent many Utahns from buying a home. But there’s a silver lining for renters with an eye for the long haul.
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The projections say Washington County will need a lot more housing as its population expands. But after years of increases, the number of new residential units fell this year.
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First-time home buyers continue to be squeezed out of the market with high prices and interest rates still averaging over 6%, but experts say some relief could come later this year.
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The federal government shutdown is delaying and even stopping some lenders from finalizing home loans. With the Internal Revenue Service closed for…