U.S. States With the Most Mortgage Delinquencies
Amid record-breaking unemployment numbers resulting from COVID-19, millions of Americans are struggling to make their mortgage payments in 2020. In response to the crisis, the CARES Act invoked a moratorium on home foreclosures for all federally-backed mortgages that extends until the end of the year. The Act also placed many federally-backed mortgage loans into forbearance, ...
Cities Where Housing Costs Have Risen Fastest Relative to Income
Despite decades of record-setting home sales, owning a home has become increasingly difficult for the average worker. Mortgage interest rates are historically low, yet hourly earnings have failed to keep pace with rising housing costs. Data from the federal government indicates that although earnings for production and nonsupervisory workers increased by approximately 80 percent between ...
Cities With the Largest Increase in Home Prices Over the Last Decade
According to data from Zillow, home prices in the U.S. have climbed over 42 percent in the last decade. While the country’s housing market as a whole recovered strongly from the lows of the Great Recession, the recovery was not evenly distributed throughout the country’s major cities. As residents of some cities are being priced out ...
The Best-Paying Cities for Construction Workers [2020 Edition]
According to recently released data from the U.S. Census Bureau, total construction spending in the United States amounted to $667.9 billion during the first six months of 2020. While this total represents a 5 percent increase over the same period in 2019, spending has decreased by about $86 billion since the onset of the pandemic in ...
The Best Home Warranty Companies of 2020
If you own an older home or your home’s appliances are no longer covered under a manufacturer’s warranty, there is a good chance you should look into purchasing a home warranty to get extra protection for your home’s systems and appliances. This guide will cover all of the basics of home warranties including coverage, costs, ...
Best Renters Insurance for 2020
When moving into a new rental, there is plenty to think about, from getting all your stuff there and hooking up the internet to finding the best nearby coffee shop and gym. With so much to be excited about, new renters may not be thinking about renters insurance, but they should be. Renters insurance is ...
U.S. States Where Manufactured Housing Is on the Rise
After years of decline starting in the late 1990s, manufactured housing has been gaining in popularity over the past few years. Unlike site-built homes, which are directly constructed on a plot of land, manufactured homes are pre-assembled in factories and then transported to the location where they will be used. According to the U.S. Census ...
Cities Whose Residents Have Paid Off Their Homes [2020 Edition]
The recent economic shutdown resulted in record unemployment and left millions of Americans struggling financially. Even as all 50 states have started reopening, the economy has a long road ahead to full recovery. Housing costs are often the biggest line item for most people’s budgets, and the current economic downturn has made it difficult for ...
Cities With the Sharpest Drop in Construction Activity Amid COVID-19
When the coronavirus pandemic upended the U.S. economy, many states halted or limited construction work. While real estate development is beginning to resume, recently released data from the U.S. Census Bureau showed an unprecedented drop in residential building permits comparing April of this year to April of 2019. Nationally, there was a 20 percent decline ...
Cities Hit Hardest by the Drop in Oil Prices
The COVID-19 pandemic has sent the world economy into turmoil as lockdowns around the world have caused economic activity to grind to a halt. The demand for oil has crashed in the wake of the growing pandemic, sending oil prices diving and even dipping below $0 per barrel. According to the most recent data from ...
American Cities With the Most Small Businesses
Small businesses across the United States face dire circumstances following the COVID-19 outbreak. While each individual small business might seem inconsequential to the broader economy, in aggregate, these firms are critical to the country’s financial well-being. According to the most recent data from the U.S. Census Bureau, small businesses with fewer than 50 employees make ...
The Best Workers’ Compensation Insurance Companies for 2020
Workers’ compensation insurance (also known as workers’ comp or workman’s comp insurance) is coverage that compensates employees of an insured company when they are injured during work. This guide will cover the basics of workers’ compensation insurance, including how it works, what it covers, costs, and requirements. This guide will help companies analyze the top ...
Comparing Orkin vs. Terminix: An In-Depth Review
Whether you are dealing with a current termite infestation or are simply looking to take preventative measures, finding a reliable termite control company to work with (like Terminix or Orkin) is critical. The EPA estimates that termites cause billions of dollars in property damage every year. Additionally, most homeowners insurance policies don’t cover termite damage, ...
The Best Commercial Auto Insurance Companies for 2020
Commercial auto insurance is a form of car insurance that protects vehicles used for business activities. If you frequently use your personal vehicle for business, or your business owns a commercial vehicle, there is a good chance you should have commercial auto insurance. Because personal car insurance will not cover vehicles used for business, people ...
The Best Home Equity Line of Credit Lenders & Rates
Taking out a home equity line of credit (HELOC) is a great way for homeowners to use the equity they’ve built in their home to fund renovations, finance major purchases, or consolidate debt. If you want to borrow money against your home, choosing the right HELOC lender is essential. Getting a line of credit from ...
A New Home for $70k? The American Dream Gets a Remodel
Owning a home has long been considered an essential part of achieving the American dream. But with skyrocketing housing costs and stiffer borrowing requirements following the Great Recession, many have struggled to make that dream their own reality. In the midst of America’s ever-present housing crisis, a once-familiar, low-cost alternative to traditional site-built homes has ...
RFI – Request for Information
What is an RFI? In construction, RFI is an abbreviation for Request for Information. It refers to a solicitation of details or additional information about an aspect of the project that needs clarification. RFIs may be sent to, or from, anyone involved in the construction project, including the owner, construction manager, general contractor, architect, designer, ...
The Best Paying Cities for Construction Workers
The construction industry is one of the largest in the United States and, according to the Census Bureau, is currently responsible for more than $1.3 trillion in annual spending. That number is up from a modern low of $788 billion in 2011 following the Great Recession. Since then, nearly a decade of broad economic growth ...
Construction Spending in the United States
Total Construction Spending The construction industry is one of the largest industries in the United States, responsible for more that $1 trillion in annual spending. Since 2011, total construction spending has grown by 7.9 percent annually and is expected to maintain a similar compounded annual growth rate to reach $1.78 trillion by 2022. For context, ...