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Jumbo Mortgages Bigger Piece of the Housing Pie
Home prices are approaching, and in some markets exceeding, the peaks hit during the run-up to the Great Recession. And that means ever more of the mortgages that buyers need are jumbo mortgages - typically for $417,000 or more. As jumbo loans become a bigger piece of banks' lending business, some borrowers lower on the income ladder could lose out.
The country's biggest banks - including J.P. Morgan Chase, Bank of America, and Citigroup - have increased their share of jumbo loans in recent years, according to data compiled by ComplianceTech, a fair-lending software and consulting firm based in McLean, Virginia.
Homes in Wealthier Neighborhoods Tend to have More Bugs
Source: The Atlantic
While people may intuitively think that homes in poor neighborhoods would host more bugs, a team of scientists swept 50 homes in Raleigh, North Carolina, found that the wealthiest areas harbor the widest range of bugs. A scientist from the California Academy of Sciences posited that people in affluent areas might be more likely to plant trees or shrubs, which fosters bugs that can find their way into homes.
Urban ecologists have repeatedly found that monetary wealth affects biological richness. Wealthier neighborhoods contain more species of birds, lizards, and bats - a pattern known as the "luxury effect."