The housing market in America is facing a crisis with tight supply, lack of affordable homes, and high mortgage rates. The situation differs from state to state, making it crucial for businesses to consider the local residential real estate market when deciding on their location. CNBC includes the housing market as part of the Economy
Real Estate
The recent dip in the consumer price index has sparked anticipation for the Federal Reserve to commence interest rate cuts in the coming months. This positive development follows signs of a cooling economy, providing crucial data that supports the need for rate adjustments. Greg McBride, a chief financial analyst at Bankrate.com, highlighted the significance of
The housing market has experienced a significant transformation in recent years, with surging mortgage rates playing a crucial role. The 30-year mortgage rate, a popular choice for home buyers seeking financing, has been hovering around 7% for several months. This is a stark contrast to the sub-3% rates that were prevalent during the early stages
China’s upcoming Third Plenum is expected to address critical issues such as high local government debt levels and the push for advanced manufacturing. The delay in this much-anticipated policy meeting reflects the urgency for structural reforms beyond the real estate sector. Analysts are looking for a shift towards an alternative fiscal system to reduce reliance
The dream of owning a home is becoming increasingly challenging for Gen Zers, with about 22% citing the lack of affordable starter homes as a major barrier. In response to this, some are considering fixer-upper homes as a potential solution to this issue. A fixer-upper is typically an existing house that requires varying degrees of
Inflation rates in June experienced a decrease, mainly due to lower gasoline prices and other easing price pressures that brought relief to consumers’ wallets. According to the U.S. Labor Department, the consumer price index, which is a crucial inflation measure, rose by 3% in June compared to the previous year. This was a decrease from
Housing inflation in the US economy has proven to be a stubborn issue, persisting at high levels even as other areas of inflation have cooled significantly post-pandemic. The slow decline in housing inflation has been identified as a major factor hindering the consumer price index from reaching policymakers’ target levels. According to Joe Seydl, a
In a recent report by Bank of America, it was revealed that nearly half of Gen Zers between the ages of 18 and 27 rely on financial assistance from their parents. This staggering statistic highlights the challenges that many young adults face when it comes to making ends meet in today’s high-cost of living environment.
The recent surge in home prices, rising by more than 40% since the start of the pandemic, should have prompted homeowners to consider refinancing. However, the current scenario has seen a decline in applications for refinancing for the fourth consecutive week. Mortgage Bankers Association’s seasonally adjusted index reported a 2% drop in applications, with interest
The current state of the housing market is puzzling, to say the least. Supply levels are reaching unprecedented highs, especially in the newly built homes sector. However, the numbers do not tell the full story due to the unique dynamics of the current market. This shift in the supply-demand balance can be traced back to