Category Archives: Home Ownership

In an analysis of 2022 loan data, the Reinvestment Fund, a Philadelphia-based community investment nonprofit, has shed light on the evolving landscape of the city’s housing market. The findings reveal a significant shift in the local housing environment, marked by rising borrowing costs and soaring home prices. The report also highlights critical issues, including a…

Since 2016, the National Community Reinvestment Coalition (NCRC) has facilitated the creation of Community Benefits Agreements with 21 bank associations worth a combined totality of $589 billion for a mortgage, small business, and community development lending, investments, and philanthropy in low-to-moderate- income (LMI) and under-resourced neighborhoods. The very first deal was with KeyBank. Today, NCRC withdraws…

Housing affordability has fallen to its lowest level in more than 10 years, according to a national trade group. Homebuyers must earn more. Last month, the nation’s home buyers needed to earn roughly $107,000 yearly, up from around $74,000 a year earlier, to afford a median-priced home, according to Redfin. In the Philadelphia metropolitan area, the annual income required to afford a house at the median sales price of…