{{titleBar.title}}

{{titleBar.tagline}}

 

 

Radio interview: Jim Gaines talks about decline in 'starter homes'Radio interview: Jim Gaines talks about decline in 'starter homes'https://www.recenter.tamu.edu/news/newstalk-texas/?Item=126902016-04-01T05:00:00Z2016-04-01T16:00:00Z

​​SAN ANTONIO – ​​The number of "starter homes" in San Antonio (as well as in Houston and Austin) has dropped sharply in recent years, according to research by ValueWalk.com.

A starter home is typically priced from $120,000 to $160,000 and geared toward first-time buyers. They often have amenities designed to attract young families.

Real Estate Center Chief Economist Dr. Jim Gaines told WOAI radio that a number of factors have contributed to the decline in this type of home, including the lack of profit for builders in that price bracket, local regulations and fees imposed on builders, and more restrictive lending standards.

"The standards for lending have tightened up," Gaines said.  "Income requirement, FICA score requirements and so on.  And the people who got hit the hardest with that were first-time buyers."

To listen to the complete 13-minute interview, click here​.

WOAI
San Antonio-New Braunfels
Housing
http://woai.iheart.com/articles/local-news-119078/the-dream-of-home-ownership-in-14551955/Read more at {Source}

 Search NewsTalk Texas