Housing Expenses
Definition of "Housing expenses"
All expenses related to maintaining and operating a household. These expenses include the cost of rent or mortgage payments, taxes, utilities, maintenance and structural improvements. The cost of housing has risen in excess of increases in income. Further, the proportion of income spent on housing is increasing. Current housing expenses consume, on the average, 25% of the family budget, but renters may pay more than 50% of their disposable income on housing.
Popular Real Estate Terms
(1) Temporary and symbolic payment showing good faith and obligating two or more individuals until a final transaction takes place. The binder is typically returned if the final agreement ...
A cooperating broker or agent defines a real estate broker who helps another broker in a private property transaction. Typically, the cooperating broker represents the seller and is ...
A legally transferable debt instrument by which the issuer agrees to pay the payee within a certain time period. Note usually pay a specified rate of interest tied to the market rate of ...
(1) Type of loan where the final payment is substantially greater than the previous payments; also termed partially amortized loan. A debt agreement might stipulate a balloon payment when ...
Earthquake insurance is the type of insurance policy that specifically covers damages to your real estate caused by seismic activities. It can refer both to the rare coverage against ...
Latin: now for then. Descriptive of actions which are performed after a deadline has elapsed, but retroactively have the same effect as if they were carried out in a timely manner. For ...
(1) Methods that involve discounting the future cash flows generated by an income property. These techniques are used primarily for valuation. (2) Methods of selecting and ranking ...
Approach to appraise rental property based on anticipated future earnings to be derived from it plus the estimated selling price at the end of he period held. ...
Landowner's legal right to the water found on his property. For example, there might be a stream of water adjacent to the land. The water might be used for irrigation or other purposes. ...
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