by Ethan Faverino | Apr 25, 2026 | Economy, News
By Ethan Faverino |
Congressman Abraham Hamadeh (R-AZ-08) announced his letter to Secretary of Veterans Affairs Doug Collins to adopt common-sense reforms to the VA Home Loan Guarantee Program.
The goal is to eliminate outdated bureaucratic hurdles, reduce unnecessary costs, and better align the program with today’s competitive housing market so more young veterans can achieve the American Dream of homeownership.
In a formal letter to Secretary Collins, Congressman Hamadeh highlighted the Trump administration’s strong progress in refocusing the Department of Veterans Affairs on its core mission: delivering timely benefits, expanding access to quality care, slashing the claims backlog, and eliminating waste. Building on that momentum, Hamadeh expressed confidence that practical improvements to the home loan program will receive serious consideration.
“As my fellow veteran and Committee member, Congressman Van Orden said in our hearing on the subject, we must find ways to eliminate the unnecessary administrative costs of the VA Home Loan program and better align it with other Federal housing programs,” said Congressman Hamadeh. “My family is in real estate. I am very familiar with housing, and I know the unintended consequences of bureaucratic policies that have little to no protective value and ignore the realities of the marketplace.”
Congressman Hamadeh’s recommendations focus on four key areas where the VA Home Loan program lags behind other federal housing programs, such as FHA and USDA loans:
Ending Origination Fee Stacking: VA rules cap lender origination and administrative fees at 1% of the loan amount, intended to cover all lender labor and overhead. However, veterans report lenders charging the full 1% while adding separate itemized fees for processing, underwriting, and other services. This practice amounts to an unfair cash grab that increases costs for veterans and should be strictly enforced.
Modernizing Underwriting Process: The VA continues to rely heavily on manual underwriting, resulting in average closing times of about 10 business days. In contrast, the FHA has implemented semi-automated systems that can approve straightforward loans in as little as 2 to 7 days. The Mortgage Bankers Association has testified that automated underwriting would accelerate the process and help reduce the perception that VA loans are slower and more cumbersome.
Raising the Seller Concessions Cap: The VA currently limits seller concessions to 4% of the home’s reasonable value. Both FHA and USDA programs allow up to 6%. In competitive markets, this 2-percentage point difference can mean the difference between a veteran’s offer being accepted or denied.
Addressing Appraiser Shortages Through Reasonable Certification Requirements: The VA has identified 436 counties in 31 states facing appraiser shortages that delay loans and drive up costs. A major contributor is the VA’s stringent experience requirement of 3 to 5 years for certification, compared to just 12 to 18 months for FHA and USDA programs. Aligning standards would increase the pool of qualified appraisers, shortening waiting times and lowering fees.
These targeted reforms would remove barriers without compromising program integrity, helping young veterans secure homes more efficiently and affordably. By modernizing the program, VA can better fulfill its promise to those men and women who have sacrificed for our country.
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
by Ethan Faverino | Jan 18, 2026 | Economy, News
By Ethan Faverino |
State Representative Nick Kupper (R-LD25) introduced House Bill 2325, also known as the Own Something and Be Happy Act. This legislative measure is designed to reduce the growing influence of large institutional investors in Arizona’s single-family housing market and restore ownership opportunities for working families.
The bill, which amends Title 44 of the Arizona Revised Statutes by adding Chapter 42, targets corporate dominance that has driven up home prices and made it harder for Arizona residents—particularly first-time buyers—to purchase homes in their communities.
Key provisions include:
- Capping institutional ownership at no more than 50 single-family homes statewide.
- Prohibiting bulk purchases, defined as acquiring two or more single-family homes in a single transaction or within a rolling 12-month period by the same entity.
- Imposing a 60-day waiting period, during which institutional investors are prohibited from bidding on or purchasing newly listed single-family homes, giving individual buyers priority.
Institutional investors—defined as entities owning or managing 10 or more single-family homes in Arizona—exceeding the cap on the bill’s effective date would be prohibited from new acquisitions and encouraged to voluntarily reduce holdings to achieve compliance.
The legislation includes targeted exemptions to avoid unintended impacts on housing efforts, such as:
- Nonprofit organizations focused on affordable housing
- Government housing agencies
- Community land trusts
- Small property owners (fewer than 50 homes)
- Pension funds of fiduciary entities with assets under $5 million
- Homebuilders whose primary business is constructing new homes for individual sale
To ensure transparency and accountability, HB 2325 requires institutional investors to file annual disclosures with the Arizona Department of Housing by March 15, detailing the single-family homes they own, purchase, or sell, along with their compliance with applicable laws.
Enforcement authority rests with the Arizona Attorney General, who may investigate violations, seek injunctive relief, or pursue other remedies. If the Attorney General declines action, county or city attorneys in the relevant jurisdiction are empowered to step in.
Representative Kupper emphasized the bill’s alignment with broader national concerns over housing affordability. “President Trump is right to call this out,” Kupper stated. “Homeownership has long been central to the American Dream and the reward for hard work. When large investment firms buy up neighborhoods, families lose, and prices climb. HB 2325 puts Arizona on the side of working people who want to own a home, raise a family, and stay rooted where they live.”
“Housing costs have climbed nationwide as institutional investors expanded their residential footprint, while homeownership rates for younger Americans have stalled,” continued Kupper. “In Arizona, population growth and limited housing supply have intensified the squeeze on first-time buyers. This bill draws a clear line. Arizona homes should be owned by Arizona families, not treated like financial instruments by distant corporations.”
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
by Ethan Faverino | Dec 20, 2025 | Economy, News
By Ethan Faverino |
While homeownership rates have remained stubbornly flat or declined in many parts of the country, Arizona has beaten the trend with one of the strongest increases in the nation, according to a new decade-long study by the New Jersey Real Estate Network.
The analysis is based on U.S. Census Bureau data tracking changes in owner-occupied housing units across all 50 states between 2014 and 2024, providing a long-term view of homeownership trends beyond short-term market fluctuations.
Arizona posted a 7.79% increase in the percentage of owner-occupied homes over that period, landing the Grand Canyon State at No. 5 nationwide for homeownership growth—the only Southwestern state besides New Mexico and Nevada to crack the top five.
New Mexico ranks first among the states with the greatest growth in homeownership, posting an 11.42% increase. Nevada follows at 9.22%, with Virginia (7.99%), Maine (7.83%), and Arizona (7.79%) rounding out the top five.
The gains in Arizona and its fast-growing neighborhoods reflect a combination of strong population growth, job creation in tech and healthcare, and relatively affordable entry-level housing compared to coastal markets—even as prices have risen sharply in recent years.
At the opposite end of the spectrum, several states saw significant drops in the share of residents who own their homes.
The states recording the steepest drops in homeownership include South Carolina (−7.56%), North Carolina (−5.79%), Michigan (−5.01%), Oklahoma (−4.96%), and Alaska (−4.20%).
“While many states saw peak homeownership rates in 2020, followed by slight decreases in recent years, this could reflect various factors, including shifts in housing markets and affordability trends, as individuals continue to navigate evolving financial landscapes,” said the New Jersey Real Estate Network spokesman.
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | May 31, 2025 | News
By Jonathan Eberle |
Arizona homeowners will soon have greater freedom to add accessory dwelling units (ADUs) to their properties, thanks to a new law aimed at easing housing constraints and expanding property rights across the state.
House Bill 2928, signed into law last week, was spearheaded by House Majority Leader Michael Carbone. The legislation establishes statewide rules that limit local governments’ ability to restrict ADUs—also known as casitas or guest houses—on lots zoned for single-family homes.
“Arizona homeowners should be able to use their property without being buried in red tape,” said Carbone. “Whether it’s for an aging parent, a young adult, or a rental opportunity, ADUs are a practical solution—and it’s time the law recognized that.”
Under HB 2928, counties must adopt consistent standards by January 1, 2026, or default provisions outlined in the law will automatically take effect. The bill bars local governments from imposing strict design standards, excessive parking requirements, or costly infrastructure upgrades that have historically made ADUs difficult to build.
Key provisions of the law include prohibiting rules that require a preexisting relationship between homeowners and ADU occupants; limiting fees and setback requirements that raise construction costs; and allowing both attached and detached ADUs by right on single-family lots.
The legislation includes carveouts for tribal lands, military zones, high-noise areas, and utility easements. It also permits counties to require septic evaluations where appropriate.
Supporters argue the measure is a meaningful step toward addressing Arizona’s housing affordability challenges. By enabling more flexible use of existing properties, lawmakers say the bill will help ease pressure on housing supply without large-scale development.
“This law gives homeowners more freedom, cuts through bureaucracy, and ensures Arizona families can thrive,” Carbone said.
The reform aligns with broader goals outlined in the House Republican Majority Plan, which emphasizes reducing government intervention and promoting individual rights.
As Arizona continues to experience rapid population growth, lawmakers on both sides of the aisle have expressed interest in finding creative housing solutions. ADUs—long used in other states as a way to increase density without altering neighborhood character—are increasingly seen as a tool to meet that demand.
With HB 2928 now law, the focus shifts to implementation, as counties work to meet the 2026 deadline for adopting the required rules.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Matthew Holloway | May 28, 2025 | News
By Matthew Holloway |
In her latest op-ed, Arizona State Senator Shawnna Bolick expresses a growing alarm regarding the prospect of home ownership for younger adults also highlighted in a RealClear Investigations (RCI) report. In short: both the Arizona Senator and the journalists at RCI have come to the same conclusion: the American dream of home ownership is dying at the hands of our federal, state, and local governments, and lobbyists.
As Bolick noted, property costs in Arizona have steadily increased over the past five years, with the average cost of a home ramping up to nearly $500,000 in the greater Phoenix area. Citing ZipRecruiter statistics, she noted that the average salary in the state is $68,329 annually.
Bolick summarized the problem succinctly saying, “For too many today, such a purchase at a relatively young age is increasingly out of reach. Across most major American cities, home prices are by far outpacing wages. If states experiencing economic growth want to keep up with demand, they will need to do something about affordable housing.”
In the RCI report, Joel Kotkin and Wendell Cox suggested one big problem is the disconnect between urban planners and consumers: ‘‘These choices underscore an analysis of Canadian poll results by Sotheby’s, which suggests a ‘disconnect’ between urban planning and consumer preferences: ‘The picture is of young urban families overwhelmingly preferring detached houses, and decidedly not the condominiums into which planners are driving them.’ As Sotheby’s puts it, ‘The report dispels myths about young, urban families’ housing preferences.'”
Kotkin and Cox also wrote in the investigation that increasingly, the acquisition of a home in America has become reliant on what they term “the classic feudal formula – being born into ‘the funnel of privilege.’” They explained that millennial Americans are “three times as likely as boomers to count on inheritance for their retirement.” And indeed a recent report from the Institute for Family Studies revealed that since 1970, the percentage of young adults who own their own homes has plunged from 50% to as little as 25-30%.
The problem hasn’t escaped the notice of Arizona legislators however, as Bolick noted with her sponsored Senate Bill 1229. She described it as a measure to “address our state’s housing shortage,” which would “deregulate local zoning jurisdictions to reduce unnecessary red tape and overburdensome decision-making coming from our central municipal planning departments.” In addition, she wrote “the bill would allow municipalities to set minimum lot sizes to allow for these types of homes in new developments of five acres or more on lots zoned as single-family homes.”
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
