In a recent report by Bank of America, it was revealed that nearly half of Gen Z adults between the ages of 18 and 27 rely on financial assistance from their families to make ends meet. This financial support is crucial for this generation, as 52% of them feel that they do not earn enough
Real Estate
The recent surge in home prices, which has seen an increase of over 40% from pre-pandemic levels, should theoretically prompt existing homeowners to consider refinancing. However, the current scenario is quite the opposite. With interest rates more than double what they were just two years ago, the cost of pulling cash out through refinancing has
The housing market has been experiencing some unusual dynamics lately, especially when it comes to the inventory of new homes versus existing homes. While overall inventory is showing signs of improvement, the supply of newly built homes seems to be disproportionately high compared to existing homes. This strange phenomenon can be attributed to the unique
The San Francisco real estate market has been facing significant challenges, with the vacancy rate for office space reaching a record high of 34.5% in the second quarter of the year. This marks a steady increase from previous quarters and is a stark contrast to the low vacancy rates before the pandemic. Additionally, the average
The Manhattan real estate market is experiencing a shift towards becoming a buyer’s market in 2024. With apartment prices falling and inventory increasing in the second quarter of the year, buyers are gaining more leverage in negotiations. Reports from Douglas Elliman and Miller Samuel indicate that the average real estate sales price in Manhattan decreased
Recent reports indicate a shift in the housing market dynamics, with home prices showing signs of cooling off. While prices are still higher compared to a year ago, the rate of growth is slowing down. According to Redfin, the typical house sold for slightly less than its asking price for the first time since the
Despite hopes for a rebound in the summer housing market following a lackluster spring, the latest data suggests that challenges still persist. Mortgage demand, a key indicator of the health of the housing market, remained stagnant for the second consecutive week. Total mortgage application volume saw only a marginal increase of 0.8% from the previous
Recent data from the U.S. Census Bureau indicates that the average size of newly constructed homes has been decreasing over the past few years. In the first quarter of 2024, the median size of a single-family home under construction was 2,140 square feet, down from 2,256 square feet in the first quarter of 2023. This
Despite the increase in mortgage rates and the rise in home supply, home prices in April continued to set new records. The S&P CoreLogic Case-Shiller National Home Price Index reported a 6.3% increase compared to the same period last year, marking the second consecutive month of a significant jump. According to Brian Luke, head of
The newest real estate indicator in the United States has identified several counties that are considered the easiest places to buy a home. Iroquois County, Illinois, for example, is labeled as the least challenging market to purchase a home. It stands out for being highly cost-effective when compared to other counties. This means that buying