The traditional concept of ownership is undergoing a significant shift in American society. With affordability concerns at the forefront, more individuals are opting to rent various goods and services instead of purchasing them outright. According to a recent report by Intuit Credit Karma, the rental industry has experienced exponential growth, encompassing everything from cars, apartments,
Real Estate
In the current real estate market, the dream of buying a home seems to be slipping out of reach for many aspiring homeowners. The combination of higher mortgage rates and a limited supply of houses has resulted in soaring prices, making it difficult for buyers to enter the market. According to the National Association of
The recent decrease in mortgage rates for the fourth consecutive week did not seem to generate much excitement among current homeowners or potential homebuyers. Despite the slight drop in rates, the total mortgage application volume only rose by 0.5% compared to the previous week. This lackluster response raises concerns about the overall state of the
The latest data on the S&P CoreLogic Case-Shiller U.S. National Home Price Index reveals that home prices have reached an all-time high, despite the increase in mortgage interest rates. The index shows that nationally, home prices have increased by 5.4% compared to June 2023. While this marks a record high for the index, the annual
As the Federal Reserve considers cutting interest rates in September, another important deadline looms for homebuyers and sellers. The National Flood Insurance Program (NFIP), which needs reauthorization by September 30, plays a crucial role in protecting homes from flood damage. If Congress fails to act, the lack of NFIP authorization could affect the ability to
In recent years, top homebuilders such as D.R. Horton and Lennar have shown impressive shareholder returns, outpacing the broader S&P 500 index. However, analysts have recently downgraded the investment outlook for both companies, raising concerns about their future performance. Despite this, some investors remain optimistic about the industry’s prospects for growth and success. Industry observers
The real estate market saw a 1.3% increase in closed sales of previously owned homes in July compared to June. This uptick, however, marked the first gain in five months. Despite the positive momentum, sales were still 2.5% lower than the same time last year. The Northeast experienced the biggest gains in sales, while the