youtube
With increasingly high rental prices, insurance companies dropping coverage, and overly restrictive Homeowners Associations (HOAs), Americans face a multitude of challenges on the path to homeownership. CNBC Marathon explores how the rise of HOAs, the climate crisis, and limited housing supply affect living in the U.S.
More than 80% of newly-built single-family homes sold in 2022 belonged to an HOA, according to the U.S. Census Bureau. HOAs tout themselves as a value-add to homeowners, specifically when it comes to maintaining high property value, but not everyone is pleased with HOAs. Fifty-seven percent of homeowners surveyed said they disliked living in an HOA with more than 3 in 10 homeowners saying they feel like the HOA has too much power.
Many homeowners in the U.S. are losing their home insurance policies. Major insurers like State Farm and Allstate are no longer offering new policies in California. State Farm attributes this to increased wildfire risk, inflation and other challenges in the region. Louisianan and Floridian homeowners are facing similar issues due to flood risk.
RealPage software is used to set rental prices on 4.5 million housing units in the U.S. A series of lawsuits allege that a group of landlords are sharing sensitive data with RealPage, which then artificially inflates rents. The complaints surface as housing supply in the U.S. lags behind demand. Some of the defendant landlords report high occupancy within their buildings, alongside strong jo
|
2024/11/07
youtube
