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Work-from-home flexibility could increase buyer pool by 2 million

Looking to transition from renting to home ownership? iFinance Mortgage can help, contact Senior Mortgage Banker, John Rodriguez, at 949-415-4101 or at jrod@ifminc.com.

If the rise of remote work proves to be a lasting trend, nearly two million renters could find themselves with a new, potentially easier path toward homeownership, according to a new study by Zillow. The real estate company crunched the numbers and found that some 1.92 million renters currently can’t afford to buy an entry-level home in their current locale, but could afford a typical starter home if they took advantage of increased work-from-home flexibility and moved to a less expensive area. To come up with this estimate, Zillow identified renter households across the country for whom monthly payments on a starter home are unaffordable (that is, monthly payments are greater than 30% of household income). Those households were then assigned a “telecommuting probability,” based on income, the worker’s occupation and the industry in which they work.

Read the complete Scotsman Guide article here.

John A. Rodriguez

John A. Rodriguez is a Senior Mortgage Banker with iFinance Mortgage Inc. His passion is educating families and individuals to better understand the home loan process, to secure the best financing available, and then to protect their mortgage. Contact John today at jrod@ifminc.com or 949-456-7056! LinkedIn: http://ow.ly/fttL50xQAUi

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