The looming possibility of a lapse in the National Flood Insurance Program (NFIP) authorization by September 30 poses potential challenges for homebuyers, sellers, and homeowners across the United States. The NFIP, a government-sponsored flood insurance program, is crucial for protecting properties from flood damage, especially in high-risk areas. This article will delve into the repercussions
Real Estate
Affordable housing plays a vital role in the vision of an “opportunity economy” outlined by Vice President Kamala Harris. In a recent economic policy pitch, Harris highlighted the need to lower the costs associated with both owning and renting a home in the United States. Emphasizing the importance of increasing affordability, Harris stated that efforts
Over the past decade, top homebuilders like D.R. Horton and Lennar have reported shareholder returns that have outpaced the S&P 500. However, recent downgrades in investment outlook have caused mixed reactions among analysts and investors alike. Despite the challenges, some investors remain optimistic about the industry’s potential for growth and performance. Influential Factors on the
The National Association of Realtors reported a 1.3% rise in closed sales of previously owned homes in July compared with June, marking the first increase in five months. However, sales were still down by 2.5% compared to the same time last year. The Northeast experienced the largest gains in sales, while the Midwest remained relatively
The recent decrease in mortgage rates has led to a surge in refinancing activity in the housing market. However, despite rates falling for the third consecutive week, applications to refinance a home loan dropped by 15% from the previous week. This decline may be attributed to the fact that applications were 90% higher compared to
Recent data has shown that Britain’s major high street lenders are actively reducing borrowing costs in response to the Bank of England’s first interest rate cut in four years. Banks such as Barclays, Halifax, HSBC, and NatWest are now offering five-year fixed rate mortgages below 4%, which is lower than the BOE’s key rate of
Inflation rates in July 2023 continued to decline, with the consumer price index (CPI) rising by 2.9% from a year ago, as reported by the U.S. Department of Labor. This reflects a decrease from the 3% inflation rate in June and marks the lowest reading since March 2021. The CPI serves as a crucial indicator
The recent construction boom in the U.S. has had a significant impact on the rental market. With an increase in construction activity since the pandemic, there has been a surge in the supply of empty units available for renters. This surplus has led to lower rents and other benefits for renters, as landlords are now
In the first quarter of 2024, homeowners are collectively sitting on a massive $17 trillion in equity, with the average homeowner gaining $28,000 compared to the previous year. This increase in home equity presents an opportunity for homeowners to leverage their assets for various purposes. However, it is crucial to understand the nuances of tapping
Despite the U.S. economy remaining strong amidst inflation and high interest rates, a recent survey by Affirm found that 59% of Americans believe that the country is currently in a recession. This perception is fueled by higher costs and the struggle to make ends meet, with most respondents claiming that a recession started around 15
