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https://www.blackenterprise.com/how-to-maneuver-home-buying-myths-in-todays-pricey-housing-market/
Mortgage rates recently rose to their highest level in over two decades, and spiraling home prices have made it much harder for people to buy homes. Still, many people may pursue the American dream of homeownership, despite the headwinds. However, another obstacle that may cause people to delay or not even make a purchase is the lack of education and the existing myths about the home-buying process.
A recent online survey paid for by Real Estate Witch found that many Americans are misinformed about home-buying. In fact, 72% of non-homeowners are convinced that a 20% down payment is required to buy a home, but this is not necessarily the case. While mortgage lenders generally recommend a down payment of 20%, many will accept a lower percentage.
Also, roughly 32% of people believe a credit score of at least 700 is needed to buy, yet buyers can qualify for a conventional loan with a score of 620.
For the survey, 1,000 people were questioned about their knowledge of the home-buying process. The survey was completed by 151 Black Americans.
Here are some current facts.
Per Freddie Mac, the average 30-year mortgage dropped to 7.18% on August 31, after reaching 7.23% on August 24, the highest point since June 2001. That percentage came as the Federal Reserve sustained efforts to cut inflation. Home prices purportedly surged for the fifth consecutive month as demand kept eclipsing supply.
With information about home-buying readily available, why are there still myths about the process?
According to Clever Real Estate data writer Sam Huisache, the myths surrounding today’s housing market are concerning for would-be home buyers due to their potential to create barriers to homeownership.
“Overall, these myths can lead to financial setbacks, missed opportunities, and heightened stress for those considering homeownership,” Huisache noted.
She pointed out that a realistic down payment for a home generally ranges from 5% to 20% of the home’s purchase price. And that the exact percentage can depend on various factors, including the lender’s requirements, your credit-worthiness, the type of mortgage you’re applying for, and your financial situation.
Huisache added that misconceptions about high down payment requirements could discourage individuals with limited savings, while an inaccurate understanding of costs might lead to surprises that become financial burdens. Home buyers should be aware that down payments below 20% will typically result in private mortgage insurance (PMI) added to their mortgage until they’ve reached 20% equity, she explained. PMI rates can be as high as 2% of the original mortgage amount.
She recommended that potential home buyers consider looking into home-buyers programs that would assist them in qualifying for a mortgage with no PMI, such as a USDA loan. Another option is to pursue a mortgage with a lower PMI rate that could help reduce the monthly payment.
Huisache suggested Black home buyers use both realtors and mortgage lenders who specialize in assisting clients with first-time home-buyer programs and other initiatives designed to create more Black homeowners.
“Many first-time home buyer programs offer free real estate education courses so people can take their knowledge into their own hands,” she offered.
For example, last year Bank of America launched The Community Affordable Loan Solution. It is a program aimed to promote homeownership, including for Black communities in Charlotte, Dallas, Detroit, Los Angeles, and Miami. The program offers qualifying home buyers a bank-provided down payment and no closing costs.
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One of the most acclaimed Japanese anime directors, Shinichiro Watanabe, just announced a brand-new series that’s currently in development at Adult Swim and features an exciting collaboration between Watanabe himself, the director of the John Wick franchise Chad Stahelski, and MAPPA—the animation studio credited with Attack on Titan: The Final Season. The fans of the sci-fi and anime genres were first treated to the announcement, followed by a trailer for the upcoming Lazarus anime at this year’s Comic-Con International.
Watanabe is widely acclaimed for his prior revolutionary series, such as 1998’s Cowboy Bebop and 2004’s Samurai Champloo, both of which feature his innate sense of style and narrative brilliance. Sure, Samurai Champloo might not be one of Watanabe’s most recognized works, but Cowboy Bebop is undeniably one of the greatest and most influential anime of all time, which only underscores the undeniable mark Watanabe’s work has on pop culture. So, hearing that another animated series from the pen of such a genius is in the works surely sounds exciting.
As stated above, Lazarus was first announced in July 2023 during Comic-Con International, with Adult Swim disclosing the anime’s synopsis and giving fans a taste of the action to come by revealing a teaser trailer. The official synopsis, as revealed by Adult Swim, places Lazarus in the year 2052, an era of unprecedented prosperity and peace enjoyed by humanity worldwide following the introduction of a miracle, cure-all drug called Hapuna, developed by Dr. Skinner.
Though it was initially thought that Hapuna had no side effects, the covertly villainous Doctor revealed that the drug actually has a very short half-life and basically acts as a slow-acting poison. Thus, anyone who took it will die some three years later. As a response to this newly emerged threat in an otherwise peaceful and prosperous world, the powers that be form a special task force of five agents gathered across the world to counter Skinner’s plan and develop a vaccine, naming the task force Lazarus.
The trailer, less than two minutes long, doesn’t contain any dialogue but has a care-free protagonist, a world richly defined, and music that buoys us through the story as if we’re living and breathing in the world itself — something that has become a hallmark of Watanabe’s anime. But there’s more than music to this trailer. The rather short animated preview is brimming with incredibly fluid action scenes that showcase the true extent of Stahelski and MAPPA’s talent for capturing action and animation as characters glide effortlessly from combat to parkour.
So, despite its brevity, the reveal trailer actually does a pretty good job of captivating the attention of not just anime fans but even of those who simply love a good action story in a sci-fi setting. The fluid and captivating action paired with fantastic music is the very essence of Watanabe’s style, and the same can be said about the protagonist — a young man with wavy black hair, a stylish outfit, and piercing eyes. If we didn’t know any better, we’d say we just described Spike Spiegel, the protagonist of the original Cowboy Bebop — not the blasphemous Netflix adaptation.
But trailers have been known to lie, as they’re intentionally made to highlight all the details that would captivate the viewers’ attention and hype the audiences up for the release of what could turn out to be a sub-par dud. However, that most likely won’t be the case with Lazarus, considering the involvement of John Wick’s Chad Stahelski and 87 Ronin, Stahelski’s stunt company. So far, the action sequences, at least those shown in the trailer, are a particular standout.
It’s safe to say that Stahelski’s John Wick franchise redefined the cinematic action genre in recent years with its meticulously choreographed combat. The action-packed sequences produced by those who know them best — we’re referring to the stunt professionals of the movie industry — resonated well with audiences that had already grown bored with typical Hollywood action. The reception of John Wick was so positive that the original movie warranted three sequels and two spin-offs — The Continental and Ballerina.
Stahelski’s involvement is more than likely to elevate Watanabe’s own feel for action-packed fighting sequences, and together these two giants have the potential to redefine the anime medium, much like Cowboy Bebop did some 25 years ago. That particular anime is also renowned for its fantastic jazz score, so we can expect nothing less from the upcoming Lazarus, which is already shaping up into a promising project by Watanabe, Stahelski, and MAPPA.
Unfortunately, all other details associated with the project, such as the voice cast and release date, remain unknown at the time. Those familiar with Watanabe’s work know that he’s famous for collaborations with immense vocal talents that breathe life into his complex characters. As for the release date, considering that we already received a well-structured trailer complemented by a flowy soundtrack, we’re likely to receive the whole release sometime in 2024. However, without an official confirmation from Adult Swim and those involved, this remains mere speculation.
Whatever the case may be, judging from what we’ve seen, Lazarus is definitely worth the wait.
This interview was conducted, and this piece was written before the 2023 WGA and SAG-AFTRA strikes. Without the labor of the writers and actors currently on strike, the series being covered here wouldn’t exist.
The third season of the critically acclaimed Warrior, a martial arts drama based on the writings of Bruce Lee, is available now on MAX. We had the chance to talk with several of the cast and crew that bring the show to life, so be sure to check out our other interviews.
Here we talk with Shannon Lee, executive producer, and Jonathan Tropper, executive producer and creator.
BNP: Let’s jump right in! So, it has been three years since the second season of Warrior released on HBO Max. A lot has changed: the name of the streaming platform, an increased spotlight on police brutality, a rise in anti-Asian hate. What’s it like producing a period piece based on writings from decades ago that has remained very resonant with its thematics and situations to the present day, almost eerily?
Shannon Lee: Yeah, I would say “eerie” is a good – is a good adjective. [laughs] You know, it’s unfortunate; it’s also, in some ways, great that we get to shine a light on it, and, um, it is kind of a strange thing to see our show reflecting – our show, which takes place in the 1800s, reflecting today’s sentiments and emotions and policies and all of the things that are happening in the world. And in that way, I think our show feels very timeless.
Jonathan Tropper: Yeah, and I’ll just say that, you know, one of the things we struggle with in the room, and we always come to the same conclusion is, coming back after a long time off, we were very aware that in the first two seasons we had shone that light and we had been a show about that, and about immigration, about xenophobia and systemic racism, and the concern was now, in the time off when that stuff has, if anything, become more intensified and more difficult for the country to face, how do we address it and how do we make sure we don’t not address it, but how do we make sure we don’t over address it? And I think we spent a lot of time just reminding ourselves that it’s in the DNA of the show and all we have to do is tell our stories and it’s going to be inherent in the DNA, and that sort of, like, was the thing that released us to finally just figure out the best stories to tell, because it really is in the DNA of the show.
BNP: So, speaking of the story, some of the plot points of Warrior Season 3 include the insertion of the personal printing press and the Chinese Exclusion Act, which is something that’s been hinted at in the background for like the past two seasons. How far in advance were you planning to incorporate some of these real-life plot points into the narrative of the story, and like, how much foresight do you need in order to get all of the timelines to match up?
Shannon: I mean, I think…yeah. I’ll just start by saying that like, in terms of the Chinese Exclusion Act and the Tong Wars and that historical point in time, that was something that my father was – in – surrounding his original treatment and notes. So, you know, this time period was a Chinese-American story that he really wanted to have be the setting for his idea. So we were blessed with that as a very initial set piece for us, and to be able to set our world in that time and place. And then I’ll let Jonathan talk more to the specifics.
Jonathan: Yeah, I mean, once we became informed about that, we purposely set our show four years before the Exclusion Act so we could kind of have that sort of looming as this thing that gets referenced and that we know about and we know is coming, but you know, we didn’t want to actually do a show about the Exclusion Act; we wanted to do a show about what it felt like to be an immigrant in San Francisco from China in the 1870s. So, you know, everything is based on that time in history that would lead up to a point of so much racial strife that they would – it would be the one time in the history of this country that they legislated against a very specific, you know, race of people, that they couldn’t come into the country. And so, every year, what we do is we look at one or two historical touchpoints from this struggle, whether it’s the Page Act, which Shannon, you know, brought up for us to address in Season 2, or whether it’s, you know, the Chinatown riots that happened in a number of Chinatowns during that time period, and we sort of build a lot of the drama of the show using that as kind of an informational touchstone. So we’ll take a few things and things that we knew about or that we read about in the research we’re doing between seasons, and use them to kind of foster ideas for story, and then the story kind of takes off on its own.
BNP: Speaking to the research, for anyone interested in this time period, are there any sources that you found particularly resonant that people could seek out on their own?
Jonathan: The sources are really hard because there’s nothing actually written about this specifically, but there is a book called Hatchet Men which we all read, which was really helpful. There was another book called The Barbary Coast, which, you know, isn’t only about Chinatown; it’s about San Francisco during that time period, but there are chapters and bits within it that really give some illuminating, you know, information about Chinatown. Um, there’s another book – I’m blanking on the title of the third book, but those are the two books that come to mind that like every writer in the room has read. And then it was a lot of articles, a lot of stories, a lot of, you know, just pieces of periodicals that we were able to track down. You know, records of court cases, things like that, and just, you know, the rest of it’s a lot more spread out.
BNP: So, very quickly, how would you describe Warrior Season 3 as like the logline, the bullet point punch that will get everyone to watch it? I’ve already watched it, and I’m excited for it, so…
Jonathan: Well, we put it on the poster, right? “Choose a side.” And that has a lot of meaning for this season, but it’s largely about, you know, what was laid out by Bruce Lee originally is having to make that choice to follow the path of the warrior, or in our case, the path of the gangster. And it’s about choosing your path. And, you know, Ah Sahm’s been flirting with that for the first two seasons and now, in Season 3, we’re going to force him to start making those hard choices.
BNP: So, and then, just very quickly in the remaining minute I have left, I’m going to get super greedy and ask, how much Warrior can we anticipate in the future?
Shannon: [laughs]
BNP: I want more.
Shannon: We want more too! [laughs]
Jonathan: We don’t know, but we’re hopeful that this will be the beginning of a new run for us, but we don’t know yet.
BNP: Okay, well, thank you so much for your time. I really, really enjoyed talking to you about the show. I watched the third season of Warrior over the weekend, and it is just phenomenal.
Jonathan: Thank you.
Shannon: Thank you.
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