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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 80 August 2024 F I N A L T H O U G H T S "challenges impacting homeownership" Steve Kaminski, Head of U.S. Residential Lending for TD Bank, discussing how, even though many of the obstacles to homeownership are making some homeowners nervous about the state of the market, younger generations are staying positive in searching for a home that suits their wants, needs, and budgets. "intimidatingly expensive" Jamie Cattanach, Personal Finance Writer for LendingTree, said that while renting—in lieu of homeowning—has its pluses and minuses, and purchasing a home may seem costly and expensive, it could save homebuyers a significant amount of money in the long run. "growing economic strain" Amy Quackenboss, Executive Director of the American Bankruptcy Institute, detailed how the ongoing rise in bankruptcies is indicative of increasing financial pressure on both American households and small corporations. "notable inventory increases" Dr. Selma Hepp, Chief Economist for CoreLogic, revealed that markets with significant gains in inventory, such as those in Florida and Texas, are still experiencing an annual slowdown, bringing prices down from levels seen last year. "a modest uptick in optimism" Mark Palim, VP and Deputy Chief Economist at Fannie Mae, discussing how, despite a slight increase in homebuyer confidence over both homebuying and home-selling conditions, the primary driver influencing consumer housing sentiment remains concerns about affordability. FINAL THOUGHTS In this month's final thoughts, experts from TD Bank, Lending Tree, the American Bankruptcy Institute, CoreLogic, and Fannie Mae examine and explain the importance of staying positive about homeownership, how homebuying can save renters money, the result of rising bankruptcies and their effect on American households, increasing financial pressure, the state of price growth, and what it means for potential buyers in the coming months and year.