More than five years after real estate prices began to tumble, Americans are finally starting to get property tax breaks on their devalued homes, a USA Today analysis finds. If the downward trend continues, property taxes may actually bring in fewer dollars this year than last even before adjusting for inflation. That hasn’t happened since the Great Depression.
CBS News: Sector Snap: Home Improvement Hits Multiyear Highs
If you’re considering buying a house with an FHA mortgage and expect the seller to help out with your closing costs, here’s a heads-up: FHA plans to impose significant restrictions on the amount of money sellers can contribute at settlements in the near future. FHA also will be raising its mortgage insurance premiums during the coming weeks, increasing charges for new purchasers across the board.