Aspiring homeowners often find themselves in a dilemma when it comes to deciding if they are financially prepared to make the leap from renting to buying. According to the analysis by Zillow, a significant number of renter households in 2022 could have afforded to purchase a home based on their income levels. However, it appears
Real Estate
In the United States, housing stands as one of the most significant expenses for consumers. While high rents and home prices pose significant obstacles for potential homebuyers, access to affordable credit remains as another major roadblock. An estimated 50 million Americans are categorized as “credit invisible,” meaning they lack a credit file and credit score,
Last week, mortgage rates hit the lowest level since March, leading to a significant spike in refinancing applications. The Mortgage Bankers Association reported a 15% increase in applications compared to the previous week, the highest level since August 2022. Despite the surge, refinance demand is still more than 70% lower than pre-pandemic levels in early
America is facing a housing crisis with a tight supply of homes, especially affordable ones, and persistently high mortgage rates. The problem varies from state to state, making the local residential real estate market a crucial factor for companies deciding where to locate. The housing market plays a significant role in determining state business competitiveness.
It is evident from recent indications that inflation is beginning to ease, setting the stage for the Federal Reserve to potentially initiate interest rate cuts as early as this autumn. The consumer price index, a fundamental measure of inflation, declined in June for the first time in over four years, as reported by the Labor
The housing market has undergone significant changes in recent years, with surging mortgage rates and housing prices impacting consumers’ purchasing power. While the 30-year mortgage rate has hovered around 7%, signaling higher borrowing costs for prospective home buyers, housing prices have also reached record highs according to the Case-Shiller national home price index. This combination
China’s real estate sector is facing massive challenges, with issues such as high local government debt levels weighing heavily on the market. Analysts are predicting that the upcoming Third Plenum will address these concerns, along with a focus on advanced manufacturing rather than just the property market. The current fiscal system, heavily reliant on land
A recent report has highlighted the challenges that Gen Z homebuyers face in the current housing market. Approximately 22% of Gen Zers identify a lack of affordable starter homes as a significant barrier to homeownership. This has led many young buyers to consider fixer-upper homes as a potential solution. These properties, which require varying degrees
Housing inflation in the United States has been a persistent issue, remaining high even as the broader economy has shown signs of cooling off from the peak levels experienced during the pandemic. This slow decline in housing inflation has become a significant barrier to achieving the desired target for the Consumer Price Index (CPI), according
Inflation in the United States fell further in June, providing some relief for consumer wallets. The consumer price index (CPI) rose 3% in June from a year ago, down from 3.3% in May, according to data from the U.S. Labor Department. The CPI is a key indicator of inflation and measures how prices are changing