California residents and others are more likely to opt for renting a home as opposed to buying one or living in an apartment. The Great Recession was largely responsible for changing American attitudes regarding homeownership. Although the housing market has largely recovered, many people no longer assume that owning a home is something that they need to do. Stagnant wages are another reason why people are opting to rent a home instead of buying one.
Why renting is more popular these days
Avoiding and fighting allegations related to ADA adherence
If you own a small business in California, you know how difficult it can be to ensure that you are compliant with various laws and regulations. One of the most important issues for you to consider is your compliance with the American Disabilities Act. Failure to adhere to ADA standards could result in costly lawsuits and legal complications.
What to consider when buying a home before marriage
California residents who are not married to their partners may have few legal protections when it comes to purchasing a home with them. Therefore, it may be a good idea to create a written agreement as it relates to what happens if an individual splits with a partner. If a split were to occur, a contract could determine who moves out or if the house is sold as a result.
Selling a home with two mortgages
Homeowners in California who are saddled with two mortgages may find it easier than they think to sell their home. The process of selling a home with two mortgages is similar to that of selling a home with just one mortgage, but it is important to be aware of all the facts.
Low inventory pushing housing prices up
Many people shopping for a home in California feel the mismatch between their earnings and home prices. The increase in home prices since 2011 has outpaced a modest rise in wages. According to government data, home prices went up by over 20 percent since a peak in March 2007 before the housing market collapse. During the same period, people have only experienced gains in wages of under 10 percent.
