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Affordability issues continue to plague the nation’s housing market, and it appears the situation is only getting worse. The latest report from ATTOM Data Solutions shows that the median-priced home is too expensive for the average earner in 74% of U.S. markets. That’s up 3% from last quarter.
Civic Financial Services, a private money lender that focuses on loans for property investors, recently launched a correspondent lending channel, allowing lenders to close real estate investor loans in their names. Now, the company is expanding its offerings again.
After eight months on the market at $245 million, the Los Angeles estate known as Chartwell just got $50 million taken off its asking price. As of Monday, it’s priced at $195 million. There are 11 bedrooms, 18 full bathrooms, and a 12,000-bottle wine cellar. The house is set on more than six acres with manicured gardens and water fountains.