Housing market short 4.5 million homes – here’s how that impacts your house hunt
Without an increase in housing supply, home prices will continue to rise, the Zillow report said. (iStock) The US housing shortage is worsening, with a housing shortfall expected to grow by an additional 1.8 million homes by 2022, according to Zillow. report. The U.S. will have 4.5 million fewer housing units than needed in 2022, […]
Housing starts rose in June despite higher mortgage rates
The number of housing starts ticked up in June despite pressure from high mortgage rates, reassuring news for an economy that has seen soaring housing prices and rents driven by a lack of supply. Housing starts, the change in the number of new residential buildings that began construction, rose 3% from May to a seasonally adjusted annual rate of 1.35 million in […]
Mandatory housing targets at core of economy-focused king’s speech | Labour
Local councils will have to adopt mandatory housing targets within months under planning reforms to be announced on Wednesday as part of Chancellor Keir Starmer’s first King’s Speech, which he said will focus on economic growth. Starmer is due to introduce more than 35 bills on Wednesday – the first Labour chancellor in 15 years […]
Scientists confirm cave on the moon — which could be used as future housing
CAPE CANAVERAL, Fla. — Scientists have identified a cave on the moon not far from where Neil Armstrong and Buzz Aldrin landed 55 years ago, and they speculate there could be hundreds more that could be habitable for future astronauts. An Italian-led team of researchers reported Monday that they have evidence of a sizable cavern […]
Housing affordability top concern for younger voters this presidential election: survey
Young Americans want to know how the next president will solve the problem of rising housing prices. (iStock) Rising home prices are the top concern for young Americans heading to the polls for the Nov. 5 presidential election, according to a recent Redfin survey. investigation. The survey found that about 91% of Gen Zers cited […]
Mayor Adams’ key affordable housing ‘City of Yes’ initiative skewered by Council
City council members have raised concerns about the next steps of Mayor Eric Adams’ groundbreaking “City of Yes” plan to build thousands of apartments in the East Bronx, arguing the chosen area lacks critical infrastructure. Councillors last week sounded the alarm over a Bronx Metro-North district plan that would add 7,500 new housing units along […]
Home Buyers Remain on Strike, Housing Market Still Frozen as Prices Are Too High, Mortgage Rates Still 7%
Estimated Reading Time: 2 minutes Powell to Congress: Higher rates are “the absolute best thing we can do for the housing market…” – “…particularly for younger people who are not yet in the housing market.” However we want to interpret this, it’s fascinating. Powell told Congress on Tuesday: “There’s no question that higher interest rates […]
Justin Trudeau Admits Young Canadians Are Locked Out of Housing Wealth
Canadian Prime Minister Justin Trudeau acknowledged that younger Canadians will lose their home equity because they cannot afford to enter a housing market bloated by immigration. “They’re not going to necessarily have the same kind of homebuying planning that people a generation ago had when it comes to saving for retirement,” he told the Alliance […]
The Most Splendid Housing Bubbles in America, June Update
Estimated Reading Time: 2 minutes 2nd Overall YoY Price Drop since 2012. Biggest in Seattle, San Francisco, Las Vegas, Phoenix, San Diego, Portland, Dallas… It’s spring selling season, when prices always rise month-to-month, and they did, but it wasn’t enough. It’s still spring selling season when sales volume and prices nearly always rise on […]
How it started … How it’s going: Inflation down in June, but food, housing prices still up under Biden
“The Big Money Show” co-host Brian Bremberg breaks down the latest inflation data and discusses California’s $20 minimum wage hike. President Biden Though prices remain uncomfortably high for millions of Americans, the U.S. government celebrated a victory on Thursday after inflation fell to its first decrease in four years. The U.S. Department of Labor said […]