Over the years, the size of newly built homes has been steadily decreasing. From the data provided by the U.S. Census Bureau, it is evident that the median square footage of single-family homes under construction has reduced significantly compared to a decade ago. Builders are now focusing on constructing smaller homes, with the median size
Trends
The latest data on 401(k) savings rates shows a promising trend of growth and record-high numbers. The average combined savings rate in 2023 matched a record high from the previous year, reaching an estimated 11.7%. Furthermore, a separate report from Fidelity for the first quarter of 2024 indicated a combined rate of 14.2%, setting a
The latest trend on TikTok revolves around the idea of a “no-spend month,” where users are encouraged to refrain from making any non-essential purchases for a specific period of time. The concept sounds promising at first glance, with the potential to save money and redirect funds towards long-term financial goals. However, before jumping on the
Forever 21, once a fast-fashion powerhouse with over 800 global locations, is now asking for a 50% rent reduction from landlords due to declining sales and fierce competition. The company’s failure to adapt to changing consumer trends and manage its inventory efficiently has led to its current predicament. Despite its financial woes, Forever 21 has
Americans have experienced a boost in their buying power over the past year as inflation has decreased and the job market has strengthened. According to the U.S. Bureau of Labor Statistics, the average worker in the private sector has seen their real hourly earnings increase by 0.8% from May 2023 to May 2024. This means
Xreal, an Alibaba-backed startup, has introduced the Beam Pro device, revolutionizing the augmented reality (AR) experience for users. The Beam Pro serves as a bridge between AR glasses and Google Play Store apps, offering a virtual mouse-like functionality that opens up a world of possibilities for gaming, movie streaming, and social media interactions. With the
The real estate market is currently experiencing a surge in new listings, with an increase of 13% from a year ago. However, despite the rise in properties being listed for sale, homes are taking longer to sell as potential buyers are facing high prices and interest rates. This is creating a situation where the number
On Thursday, the U.S. stock market saw mixed results as investors assessed the latest economic data. The S & P 500 experienced a slight dip, but still remained close to its all-time high. This comes after the release of May’s producer price index data, which suggested a potential easing of inflation pressures. Additionally, weekly jobless
Experts in the real estate industry seem to have conflicting views on where the housing market is headed in the latter half of the year. While some, like Glenn Kelman from Redfin, are optimistic about improvements, others remain cautious about predicting market trends. Kelman believes that the housing market has hit rock bottom in the
The United States saw a remarkable increase in millionaires last year, standing out among other countries by adding 600,000 new millionaires. According to a report by Capgemini, the millionaire population in America grew by 7.3% in 2023, reaching a total of 7.5 million individuals. Their combined wealth surged to $26.1 trillion, up by 7% from