These days, housing affordability is a struggle for nearly everyone. But for young adults just starting out, soaring home prices and sky-high rents have become one of the greatest obstacles to making it on their own. Nearly one third, or 31%, of Generation Z adults live at home with parents because they can’t afford to buy
Month: January 2024
This onetime gorgeous estate is seeking an owner to give it a new lease on life. In Westchester County’s coincidentally named town of New Castle, a formerly glorious castle built by Abercrombie & Fitch’s co-founder, the topographer David T. Ambercrombie, is looking for a buyer who doesn’t mind fixer-uppers and has $2.9 million to spare. The
A “For Sale” outside a house in Hercules, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. David Paul Morris | Bloomberg | Getty Images Mortgage rates moved a little bit higher last week, for the second
Pretty nice deal for a floating one-bedroom, eh? Currently docked in British Columbia’s Sailor’s Cove marina, this adorable Canadian houseboat offers 377 square feet of chicly designed living space for $187,000 — much less than a home of similar size might command on land. The “float home,” as it is repeatedly referred to in the
A for sale sign hangs outside a home on the west side of Detroit, Michigan. Fabrizio Costantini | Bloomberg | Getty Images Home prices are rising faster and faster each month, fueled by a decline in mortgage rates. On a national level, home prices jumped 5.2% in November compared with the same mont a year
The National Association of Realtors is grappling with more turmoil in its top leadership ranks just over two months after the trade group’s CEO stepped down well before his planned retirement. The Chicago-based organization said Monday that NAR president Tracy Kasper has resigned, effective immediately, and is being succeeded by the trade group’s president-elect, Kevin
A sharp drop in mortgage interest rates in December may have kickstarted this year’s spring housing market early. Rates are about a full percentage point lower than they were in October, and consumers expect they will fall even more. Optimism about mortgage rates increased sharply in December, according to a monthly consumer survey by Fannie
Tracy Kasper, a realtor from Nampa, Idaho. Courtesy: NAR The president of the National Association of Realtors on Monday said she was resigning due to a blackmail threat that sought to “compromise” her leadership role. NAR President Tracy Kasper said she had notified the group’s leadership team “that she recently received a threat to disclose
Separate reports by major brokerages CBRE and JLL show that the Manhattan office market is far from dead — or even stagnant. The surveys illustrate the extent to which the top tier of the office market is “impervious” to woes at the lower end, as CBRE phrased it. (The data from both firms include both new
A pedestrian holds an umbrella as they walk along a street in the rain in Times Square, New York, on Sept. 26, 2023. Ed Jones | AFP | Getty Images The state of the U.S. economy may be a chief concern among Americans, but 2023 wound up as a pretty good year for the macroenvironment.
Snowy Buffalo is slated to have the hottest major housing market in 2024, according to a report. Despite the notoriously long, harsh winters, the Western New York town topped Zillow’s list of the 50 “hottest” markets of 2024 due to its affordability— making owning a home a real possibility for young people. “Housing markets are
It’s becoming harder — and insanely expensive — to insure a home in America. And that’s not just a household budgeting problem. As once-routine weather events become increasingly destructive, the rising cost of home-owners insurance threatens to further stall a national housing market that’s already groaning under the weight of high interest rates, rising prices
Howard Davies, chairman of Natwest Group Plc. Bloomberg | Getty Images The chair of one of Britain’s biggest banks faced a backlash Friday after saying it is not “that difficult” to get on the property ladder. NatWest chair Howard Davies told the BBC’s “Today” program that the current economic landscape — which has seen interest
Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 3, 2023. Shannon Stapleton | Reuters The New York attorney general on Friday asked a