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CBS News
5 days ago
- Business
- CBS News
Here are the best U.S. cities for first-time homebuyers
What to consider when buying a home with someone else With mortgage rates and housing prices still stubbornly elevated, potential homebuyers are looking for ways save wherever they can. The median sale price for a home in the first-quarter of 2025 was over $400,000, according to the Federal Reserve Bank of St. Louis. Mortgage rates, meanwhile, continue to hover around 7% — up from a record low of 2.65% in January 2021. Moody's decision to downgrade the U.S.' credit rating briefly pushed rates above the 7% threshold earlier this month. While homebuyers cannot control median home prices and mortgage rates, their choice of city or town to buy in can play a defining role in how much they end up spending on a property. Certain locales will offer more affordable listings and a wider range of options to choose from — giving buyers something to think about as they decide where to make their next investment. A recent study from SmartAsset ranks the best cities for first-time buyers — providing a cheat sheet of sorts for those on the hunt for a new home. The financial technology company looked at 180 U.S. cities and ranked their appeal for first-time buyers based on affordability, available housing inventory, demand and how much home prices are expected to shift in the area over the next year. Here is a breakdown of the cities that will give first-time homebuyers the best bang for their buck. Best place to buy overall McAllen, Texas, located on the state's southern tip, claimed the No. 1 spot on SmartAsset's list. A major selling point for the border city is that housing prices are forecast to change just 0.4% over the next year, meaning that buyers can rest assured the market won't fluctuate too wildly as they search for the right home. The median sale price for homes in McAllen — $204,499 — is about four times as much as the median local income, giving buyers more moderate wiggle room when it comes to affordability. Best in affordability When looking solely at affordability — the median sale price of a home relative to the median local income — Midwestern metro areas reign. Illinois cities Peoria and Decatur top the ranking in affordability, according to SmartAsset. Other locales house hunters may want to keep an eye on include Cedar Rapids, Iowa; Davenport, Iowa; Muncie, Indiana; Springfield, Illinois; and St. Joseph, Missouri, which are among the least expensive metro areas, according to the study. While Midwestern cities ranked higher in affordability than others, only Lawton, Oklahoma, where homes have a median sale price of $150,007, made it into SmartAsset's top 10 cities for first-time homebuyers overall. Best place for expanded inventory One of biggest issues plaguing the housing market is the limited supply of homes for sale While studies show that the inventory of available properties is rising in many markets, some metro areas are still suffering from shortages, which increases competition and prices for homebuyers. If you're looking for more robust inventory, you may want to consider heading south. Cape Coral, Florida, offers the greatest number of homes for sale per capita, according to SmartAsset, followed by Port St. Lucie, Florida.
Washington Post
23-05-2025
- Politics
- Washington Post
Trump administration investigates border shelters for smuggling, then sends them more immigrants
McALLEN, Texas — The Trump administration has continued releasing people charged with being in the country illegally to nongovernmental shelters along the U.S.-Mexico border after telling those organizations that providing migrants with temporary housing and other aid may violate a law used to prosecute smugglers. Border shelters, which have long provided lodging, meals and transportation to the nearest bus station or airport, were rattled by a letter from the Federal Emergency Management Agency that raised 'significant concerns' about potentially illegal activity and demanded detailed information in a wide-ranging investigation . FEMA suggested shelters may have committed felony offenses against bringing people across the border illegally or transporting them within the United States.
Washington Post
22-05-2025
- Politics
- Washington Post
Trump administration files motion to end protections for immigrant children in federal custody
McALLEN, Texas — The Trump administration filed a motion on Thursday to end a policy cornerstone that since the 1990s has offered protections to child migrants in federal custody, in a move that likely will be challenged by advocates. The protections in place, known as the Flores Settlement, largely limit to 72 hours the amount of time that child migrants traveling alone or with family and detained by the U.S. Border Patrol can be kept in U.S. Customs and Border Protection custody. They also ensure the children are kept in safe and sanitary conditions.
Associated Press
22-05-2025
- Politics
- Associated Press
Trump administration files motion to end protections for immigrant children in federal custody
McALLEN, Texas (AP) — The Trump administration filed a motion on Thursday to end a policy cornerstone that since the 1990s has offered protections to child migrants in federal custody, in a move that likely will be challenged by advocates. The protections in place, known as the Flores Settlement, largely limit to 72 hours the amount of time that child migrants traveling alone or with family and detained by the U.S. Border Patrol can be kept in U.S. Customs and Border Protection custody. They also ensure the children are kept in safe and sanitary conditions. The Flores settlement is named for a Salvadoran girl, Jenny Flores, whose lawsuit alleging widespread mistreatment of children in custody in the 1980s prompted special oversight. This is the second time the federal government under Trump has attempted to end the policy. In August 2019, the first Trump administration asked a judge to dissolve the agreement. Its motion eventually was struck down in December 2020 by the 9th U.S. Circuit Court of Appeals. Under the Biden administration, oversight protections for child migrants were lifted for the U.S. Department of Health and Human Services after new guidelines were put in place last year. The Department of Homeland Security is still beholden to the agreement, including Customs and Border Protection, which detains and processes children after their arrival in the U.S. with or without their parents. Children then are usually released with their families or sent to a shelter operated by HHS, though processing times often go up when the number of people entering increases in a short time period. Even with the agreement in place, there have been instances where the federal government failed to provide adequate conditions for children, as in a case in Texas where nearly 300 children had to be moved from a Border Patrol facility following reports they were receiving inadequate food, water and sanitation. Court-appointed monitors provide oversight of the agreement and report noncompliant facilities to Chief U.S. District Judge Dolly M. Gee of the Central District of California. CBP was set to resume its own oversight but in January a federal judge ruled it was not ready and extended the use of court-appointed monitors for another 18 months.
Washington Post
08-05-2025
- Politics
- Washington Post
Suit challenges new rules on children in federal custody who crossed into US
McALLEN, Texas — Two advocacy groups filed a federal lawsuit Thursday asking the courts to halt new Trump Administration vetting procedures for reuniting children who crossed into the U.S. without their parents, saying the changes are keeping families separated longer and are inhumane. The lawsuit was filed by the National Center for Youth Law and Democracy Forward in federal court in the District of Columbia. It names the U.S. Department of Health and Human Services and its Office of Refugee Resettlement and seeks a return to prior reunification procedures.
