Business

First-Time Buyers Face Hurdles to Homeownership This Spring

Published

11 years ago

May 12, 2015

In this May 11, 2015 photo, Brett Singley, upper right, poses for a picture in front of their condo with his wife, Angelynn, 28, Isla 5, middle, Isaiah 3, right, Ben, 2, and Aria 1 month, in Santa Clarita, Calif. Singley bought the three-bedroom home for just under $300,000 $100,000 less than what he was prepared to pay for a house. (AP Photo/Chris Carlson)

ALEX VEIGA, AP Business Writers
JOSH BOAK, AP Business Writers

Young people aspiring to buy their first home are already facing disappointment this year.

Rising prices are putting more homes out of reach, and pickings are slim because few properties have come onto the market this spring, when sales are supposed to take off.

Millennials are also burdened by heavy school debt and depleted savings that hurt their ability to qualify for a mortgage. Until their incomes start to rise meaningfully, many will be forced to keep hunting for a home while delaying the dream of ownership. This has weighed on overall home sales and economic growth throughout the rebound in housing the past three years.

“People need to see more money in their paychecks before they’ll take the plunge into homeownership,” said Greg McBride, chief financial analyst at Bankrate.

If early signs are any indication, there won’t a noticeable jump in new homeowners during the spring.

Amy Arnold and her husband began looking at listings in Denver late last year. The 28-year-old apparel buyer quickly found that the few homes in the couple’s price range got snapped up for more than asking price, leaving her exasperated at how “crazy” the market seemed.

For now, the couple has decided to keep renting a two-bedroom, one-bath house for $1,300 a month, hoping to have more money and find a better selection of homes once they jump back into the market.

“It’s very discouraging,” said Arnold. “Hopefully next year we will be able to buy, but there’s a chance we may have to rent again.”

Home prices nationwide have risen at more than double the pace of average hourly wages, making it harder for buyers to find the extra funds to save for a down payment.

In Denver, a limited roster of homes has fueled the rising prices and given sellers the upper hand. Forty percent of homes that sold in February went for more than the asking price, according to online real estate broker Redfin. That’s up from 21 percent a year earlier. In addition, half of the homes on the market went under contract in eight days or fewer.

“Typically, January, February even March are not quite as highly competitive as when you go into the spring months,” said Ilona Botton, a Redfin agent in Denver. “That’s not how it was this year. It has been multiple offer situations every single month.”

The limited supply of homes is widespread. In March, one measure showed it would take fewer than five months to sell all the previously occupied homes in the U.S. In a market more balanced between buyers and sellers, it would take about six, according to the National Association of Realtors.

What’s more, heavy demand for low-priced homes means their prices are rising faster. Homes priced at $135,000 or less jumped 9 percent for the year ending in February, according to data from CoreLogic. Homes that priced at $226,800 or more climbed 5 percent over the same period.

Beyond offering more money, some buyers are willing to waive home inspection or give sellers several weeks to move out following a sale, said Redfin’s Botton.

In general, areas with fewer homes for sale have stronger job growth that eclipses the pace of construction. Areas with larger inventories tend to keep the availability of housing in line with job growth.

In Columbus, Ohio, aviation company executive Ryan Holtmann had plenty of options. He and his wife started shopping for their first home at the end of last year. The couple visited about 15 to 20 houses before buying a three-bedroom home for $154,900 at the end of February.

“I was really surprised at how much was out there for the time of year,” said Holtmann, 33. “There were three or four we liked and would have been more than happy to go with.”

One factor preventing more houses from hitting the market is that many homeowners still owe more on their mortgage than their home is worth. That’s known as an underwater mortgage, or being in negative equity.

While millions of homes have returned to positive equity as values come back, some 5.4 million, or 10.8 percent of all homes with a mortgage, remained underwater as of the October-December quarter, according to CoreLogic. Nevada topped the list. Nearly a quarter of its homes with a mortgage were underwater.

More construction would help buyers, but activity has recovered slowly since 2010. That’s one reason a recent report by mortgage buyer Freddie Mac forecast that the U.S. housing market will continue to see low levels of homes for sale for the next several years.

As a result, even successful buyers are settling for less.

Brett Singley, a first-time buyer in Los Angeles and a father of four, knew the kind of house he wanted and how much he could afford. But after six months of searching, the civil engineer shifted his sights to smaller and less expensive townhomes. In March, he bought one in Santa Clarita, a northern suburb. He got a three-bedroom for just under $300,000 — $100,000 less than what he was prepared to pay for a house.

“We were originally looking for a four-bedroom house,” said Singley. “But we didn’t have a lot of options.”

___

Veiga reported from Los Angeles. Boak reported from Washington.

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Activism

EBMUD Enshrines the Legacy of its First Black Board Member William ‘Bill’ Patterson

Patterson, who died in 2025 at the age of 94, was remembered as a tireless advocate, mentor, and public servant whose influence shaped generations across the East Bay.

Published

1 day ago

May 15, 2026

Oakland Post

William “Bill” Patterson, Jr. Courtesy Peralta College District

By Carla Thomas

On Tuesday, May 12, Oakland honored a towering community figure, William “Bill” Patterson, with the unveiling of a bronze plaque and the renaming of the East Bay Municipal Utility District (EBMUD) boardroom in downtown Oakland.

Board members, family, colleagues, and mentees gathered to reflect on Patterson’s enduring legacy at the meeting.

Patterson, who died in 2025 at the age of 94, was remembered as a tireless advocate, mentor, and public servant whose influence shaped generations across the East Bay.

“This is well deserved,” said Patterson’s cousin, Maria Simon. “He was such a big part of the Oakland community. It’s heartwarming to know he was known by so many people.

“So many credit him with helping them get their first job. It was especially meaningful when he held the Bible for Mayor Barbara Lee’s swearing-in. He truly believed in the goodness of people, in possibilities, and in the power to bring things to fruition.”

Oakland NAACP President Cynthia Adams described Patterson as a father figure. “He took me under his wing,” she said. “This recognition is a very special moment.”

Fellow NAACP member Robert “Bob” Harris echoed that sentiment, recalling Patterson as “a great member of the NAACP and a proud Kappa Alpha Psi man.”

Patterson’s son, William Patterson Jr., reflected on his father’s professional life.

“My father loved his community, and he loved working with EBMUD and spoke highly of his colleagues,” he said, standing alongside cousin Rise Jones Pichon, a former Santa Clara County Superior Court judge.

EBMUD Board President Luz Gómez praised Patterson’s resilience and dedication.

“As his health declined, he would spend half the day in the hospital and still come to our meetings,” she said. “There will never be another like him.”

Activist Cheryl Sudduth highlighted Patterson’s commitment to workforce development and youth empowerment. “He had the vision to bring water careers to students and the next generation,” she said, noting that participants in one of his initiatives received $2,000 stipends.

Sudduth also summed up one of Patterson’s guiding philosophies: “He told me it’s not enough to have a seat at the table. You need to have access to quality resources, the tools to build the table, and the skills to ensure everyone there can contribute. We should be more than a representation; we should reflect determination.”

EBMUD Board Member Andy Katz emphasized the importance of remembrance.

“When you die, you die twice, physically, and then when people stop saying your name,” he said. “By honoring him this way, his name will continue to be spoken for years to come.”

Others in attendance reflected on Patterson’s broad impact.

“It was a joy to watch him accomplish so much,” said EBMUD Board Member Marguerite Young.

Business leader, Delane Sims added that Patterson became a trusted advisor to multiple Oakland mayors.

“We need young people to learn about him so they can become leaders capable of creating meaningful change,” Sims said.

Following public comments, attendees witnessed the unveiling of the bronze plaque in the boardroom foyer, along with signage officially renaming the space in Patterson’s honor.

Born in 1931, Patterson devoted more than seven decades to public service in Oakland and the broader East Bay. Appointed to the EBMUD Board in 1997, he served for 27 years and became its first African American board president. His leadership extended beyond water governance into civil rights, education, and community development.

A three-term president of the Oakland NAACP, Patterson also advised Oakland’s first Black mayor, Lionel Wilson, and played a key role in advancing equity, public health, and environmental justice. He served on the Urban Strategies Council and the Oakland Public Ethics Commission, further shaping public policy.

In 1971, Patterson was a founding director of the Peralta Colleges Foundation, which provides financial assistance and support to students across Berkeley City College, College of Alameda, Laney College, and Merritt College.

In addition, Patterson mentored countless young people through Oakland’s recreation programs, helping guide future leaders and even professional athletes. Though slight in stature, Patterson will always be remembered as a giant of a man.

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Arts and Culture

Against All Odds: Mary Jackson’s Journey to NASA Engineer

Jackson’s life took a significant turn when she was offered the opportunity to work in a wind tunnel, a facility used to test the effects of air moving over aircraft structures. It was here that her passion for engineering truly took flight. However, there was a challenge: to become an engineer, she needed to take advanced courses that were only offered at a segregated high school.

Published

1 day ago

May 15, 2026

Oakland Post

Mary Jackson. Public domain.

By Tamara Shiloh

When we talk about breaking barriers in science, technology, engineering, and mathematics, the name Mary Jackson deserves a place at the top of the list.

Jackson was born in 1921 in Hampton, Virginia, a place that would later become central to her groundbreaking work. From an early age, she showed a strong aptitude for math and science—subjects that, at the time, were not widely encouraged for African American women. But Jackson was not one to be limited by expectations. She earned degrees in mathematics and physical science from Hampton Institute (now Hampton University), setting the foundation for a career that would change history.

Before joining NASA, Jackson worked as a teacher and later as a research mathematician at the National Advisory Committee for Aeronautics (NACA), the agency that eventually became NASA. Like many African American women of her time, she began her career as a “human computer,” performing complex calculations by hand. It was in this environment that she worked alongside brilliant minds like Katherine Johnson, forming part of a powerful group of African American women whose calculations helped launch America into space.

Jackson did something truly remarkable. She petitioned the city of Hampton for permission to attend those classes. She didn’t accept “no” as an answer. And she won.

In 1958, Jackson became NASA’s first African American female engineer.

But Jackson’s impact didn’t stop there.

Later in her career, she chose to step away from her engineering position—not because she couldn’t continue, but because she wanted to make a difference. She moved into roles focused on equal opportunity, working to ensure that women and minorities had access to the same opportunities she fought so hard to get.

Jackson’s story gained wider recognition through the book and film Hidden Figures, which highlighted the contributions of African American women at NASA. But long before the spotlight found her, Jackson was doing the work—quietly, persistently, and brilliantly.

Jackson retired from Langley in 1985. Among her many honors were an Apollo Group Achievement Award and being named Langley’s Volunteer of the Year in 1976. She served as the chair of one of the center’s annual United Way campaigns and a member of the National Technical Association (the oldest African American technical organization in the United States).

She and her husband Levi had an open-door policy for young Langley recruits trying to gain their footing in a new town and a new career. A 1976 Langley Researcher profile might have done the best job capturing Mary’s spirit and character, calling her a “gentlelady, wife and mother, humanitarian and scientist.”

For Jackson, science and service went hand in hand.

She died on Feb. 11, 2005, at age 83, at a convalescent home in Hampton, Virginia.

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Alameda County

The Marin City Flea Market Is Back

The Marin City Flea Market returns on May 23, offering arts, crafts, vintage items, and collectibles. The market aims to uplift local vendors and celebrate cultural diversity.

Published

1 day ago

May 15, 2026

Oakland Post

Customers shopping in Marin City Flea Market. Photo courtesy of marincityflea.org.

By Godfrey Lee

After a long absence, Marin City will once again hold its flea market. The market will have its grand opening on Saturday, May 23, from 8 a.m. to 2 p.m. at the St. Andrew Presbyterian Church parking lot on 101 Donahue St. It will be held every fourth Saturday of the month

The market will be free to the public

There will be arts, crafts, vintage, collectibles, and other items on sale at the market. Interested vendors can contact info@marincityflea.org or text (415) 484-2984 for more information.

“The Marin City Flea Market’s mission is to uplift local vendors, celebrate cultural diversity, and provide an accessible community space where creativity, entrepreneurship, and connection can thrive,” says their website, marincityflea.org.

The flea market is sponsored and run by the Rotary Club of Marin City.

For more information, contact info@marincityflea.org. Or text to (415) 484-2984