For many Gen Zers, the dream of homeownership seems out of reach due to the lack of affordable starter homes. About 1 in 5 Gen Zers, or 22%, express concerns about the affordability of entering the housing market. However, some believe that fixer-upper homes could be the solution to this issue. A fixer-upper, by Redfin’s
Real Estate
In recent times, inflation in the United States has been on a steady decline, providing some relief for consumers. This decrease in inflation can be attributed to various factors, such as lower gasoline prices and easing price pressures across different sectors. As per the U.S. Labor Department, the consumer price index (CPI) rose by 3%
Despite inflation in the overall economy showing signs of cooling down, housing inflation remains alarmingly high in the United States. This slow decline is proving to be a major obstacle in bringing the consumer price index back to desired levels, according to economists. Housing, which accounts for a significant 36% of the CPI index, has
The financial challenges faced by Generation Z are becoming increasingly apparent in today’s society. According to a recent report from Bank of America, nearly half of Gen Zers between 18 and 27 are relying on financial assistance from their families. This reliance is driven by the high cost of living, with 52% of young adults
The recent surge in home prices, with an astounding increase of more than 40% since before the pandemic, should be prompting current homeowners to consider refinancing. However, the reality is quite different. Most homeowners are finding that the costs associated with pulling out cash through refinancing are simply too high now. This is largely due
The housing market is currently experiencing a strange phenomenon – while there is a rise in the inventory of newly built homes, there is still a shortage of existing homes. This is unusual because typically, home prices tend to cool off when the supply is high. However, this is not the case in the current
The San Francisco real estate market has been facing significant challenges in recent times, with the vacancy rate for office space reaching a record high of 34.5% in the second quarter. This is a substantial increase from 33.9% in the first quarter, 28.1% in the same period a year ago, and a mere 5% before
The Manhattan real estate market is currently experiencing a shift towards becoming a buyer’s market in 2024. Recent reports indicate that apartment prices have fallen while inventory has significantly increased in the second quarter of the year. The average real estate sales price in Manhattan has dropped by 3%, now standing slightly above $2 million.
The recent trend in the real estate market shows a slight decline in home prices, signaling a shift from the rapid price increases seen in previous months. While prices are still higher compared to a year ago, the rate of growth has started to slow down. Reports indicate that the typical house is now selling
As the housing market moves from spring to summer, the challenges seem to be persisting. Despite a weaker-than-expected spring season, no significant improvement is in sight for the summer months. High home prices continue to rise, making it difficult for many potential buyers to enter the market. Additionally, mortgage rates remain at recent highs, further