Three times as many people moved from Los Angeles to Houston, and from New York to West Palm Beach, as the other way around. Most movers are toward counties with lower density, lower unemployment, and cheaper housing.
In good economic times as well as in bad, financial hardship can always strike. And when it does, people might have to cut back on housing, which is typically the largest household expense. However, cutting housing costs involves hard tradeoffs.
Each year, it seems the housing market takes on a different tone. Sometimes it's going to be a sellers' market with inflated prices and bidding wars, and sometimes a buyers' market with tons of choices and low prices.
After a tumultuous few years in the housing market, the rules are starting to change -- for the better. Here are seven frequently asked questions about the new 'qualified mortgage' rules and answers about how it affects your mortgage.