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Home sales saw their biggest month-on-month decline since November 2022 in March, dropping by 4.3 percent compared to February. Meanwhile, the average 30-year fixed mortgage surged to 7.1 percent — its highest since the end of last year. Average monthly new mortgage payments are 38 percent higher than average apartment rent, with this double-digit disparity persisting for a two-year period. This is discouraging Americans from buying their own homes, with sales down 3.7 percent year-on-year.

Housing starts fell to 1.32 million. The numbers: Construction of new homes fell 14.7% in March, as home builders scaled back new projects. The pace of construction slowed as builders contended with higher mortgage rates sapping demand. Housing starts fell to a 1.32 million annual pace from 1.55 million in February,

Inflation ticked higher once again in March, with consumer prices up 0.4 percent over the previous month and 3.5 percent compared to one year earlier. The latest data marks the third month in a row that the consumer price index (CPI), a closely watched gauge of inflation, has come in hotter than expected, likely throwing cold water on hopes that the Federal Reserve would begin cutting interest rates soon.

Conniving “burglary tourists” are coming from other parts of the world through a visa program and targeting luxurious homes in the US — with some even using ghillie suits as they wait for the perfect time to strike, one prosecutor told CNN. Police and prosecutors in different high-end communities are trying to keep up with international heist rings that come into the nation, loot pricey items from wealthy homeowners and sell the swiped goods with the money sent back to their home countries, mostly to South America. “They take advantage of the fact that most people don’t have window sensors...

The Big Apple is seeing a troublesome trend of unwelcome squatters illegally bedding down in private homes and apartments in the five boroughs — and it’s gotten much harder to kick them out. A backlog of housing court cases and changes in the law in recent years have made it a bigger and longer-lasting headache for landlords to boot unwelcome tenants.. “This is happening far more now than in the past.. Squatters have become far more sophisticated than before. They set up elaborate schemes, fake documents and investigate the homes before breaking in.” Two changes in city law in 2019...

There used to be a saying: "As goes California, so goes the nation." Bear in mind that the first time I remember hearing that the Governor of California was a man named Ronald Reagan, you may have heard of him. These days, we should be terrified at the very idea of California taking its fiscal train-wreck policies on the road. Under the current governor, the impeccably coiffed Gavin Newsom, California has gone from a state with a budget surplus to facing almost $70 billion in debt. Yes, that's "billion" with a "B."That isn't stopping the state of California from coming...

The ‘migrant influencer’ encouraging others to invade the US and squat the homes of citizens skipped out on authorities shortly after arriving in the country and is now on the run from immigration officials, The Post can reveal. Venezuelan national Leonel Moreno crossed the southern border illegally in April 2022 at Eagle Pass, Texas, and was enrolled in the Alternatives to Detention program, which allows federal authorities to track migrants either using ankle monitors or other technology. However, Moreno didn’t follow the rules and is now listed as an “absconder” from the program, according to internal ICE documents seen by...

Federal government spending is that hideous strength that keeps on chugging along, despite higher rates. Home prices in America’s 20 largest cities rose for the 12th straight month in January (the latest data released by S&P Global Case-Shiller today), up 0.14% MoM (less than the 0.2% exp) Source: Bloomberg That pushed the YoY price up to +6.59% (in line with the +6.60% exp). “Our National Composite rose by 6% in January, the fastest annual rate since 2022.” According to Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P Dow Jones Indices. “For the second consecutive month, all...

A coastal Florida city is fast becoming a hotbed for wealthy movers attracted by its sandy coast and laid-back vibe. Located on the western edge of the panhandle, Pensacola boasts 'the world's whitest beaches' and has seen a rapid swell of multi-million dollar homes. It might not attract the same celebrity roster as Miami, which is home to the likes of Jennifer Lopez, Matt Damon and Ivanka Trump, but it's fast becoming a hotspot for wealthy sun-seekers looking for a beachside home in a state with no income tax. The number of homes sold for more than $1 million in...

Three corporations own 19,000 homes in the metro Atlanta area. “A recent study by Georgia State University researchers found that three corporations own more than 19,000 homes in Atlanta’s five metro counties,” WSB-TV in Atlanta reports. The study found that “Invitation Homes, Premium Partners (which operates Progress Residential), and Amherst Holdings (which operates Mainstreet Renewal) own around 11 percent of all single-family homes for rent in the state.” “In smaller neighborhoods, sometimes that’s upwards of 50 percent,” GSU professor Taylor Shelton said. “Just a decade ago or so ago, none of these companies even existed.”

The past few years have been one of the worst periods for first-time homebuyers in America's history.Record home prices, chronically low inventory, 22-year-high mortgage rates, and bidding wars with cash- and equity-flush buyers have locked many younger buyers out of the housing market.According to the National Association of Realtors (NAR), first-time homebuyers made up just 32% of all transactions last year—the fourth lowest share seen in more than 40 years.While would-be homeowners bide their time, Creditnews Research looked at America’s 50 largest metro areas to uncover housing markets that are still attractive for first-time buyers.Our ranking shows how easy it...

A left wing local council is slapping massive parking charges on electric vehicles (EVs) in the name of protecting the environment. EV owners will also pay to park outside their homes for the first time in Westminster, Central London, with the charge being levied as part of a broader “climate change” package of imposts brought in by the Labour council. The Sun reports local residents will find their general parking discount is axed from April — in a bid to achieve net zero.

Baby boomers now own twice as many large homes as millennials with kids, Redfin reported. Boomers don't have much financial incentive to downsize as millennials struggle to buy. Land-use, tax, and other policies need to change, and many more homes need to be built, experts say. Baby boomers whose kids don't live with them anymore are clinging to their large homes, making things worse for millennial families looking to settle down, according to a new Redfin analysis. Empty-nest boomers now own 28% of homes in the US with three or more bedrooms — double the 14% that millennials with kids...

Alarm! New home sales dropped like Biden’s popularity in November, down -12.2% from October. While existing home sales bounced very modestly off record lows in November, it has been the ‘strength’ of new home sales – with buyer heavily subsidized by homebuilders – that has held up the housing market. Of course, investors don’t care about actual fundamentals, rates are down so ‘buy buy buy’ the builders… Source: Bloomberg Trouble is, even as mortgage rates have plunged recently, applications for home purchases has continued to decline… Source: Bloomberg And while mortgage rates have declined (rapidly), they remain massively high relative...

Part of a six-story building crumbled to the ground in the Bronx on Monday afternoon, resulting in a scene of destruction with a pile of rubble below. The apartment complex in the Morris Heights neighborhood partially collapsed around 3.30pm. Photos of the scene showed the bare walls of several units completely exposed. A ground-level shed at the foot of the building was surrounded by a heap of sheet metal, bricks, concrete and metal rods. Rescue crews equipped with police dogs responded at the scene of the collapsed building, searching for residents who may still be trapped inside. New York City...

In Massachusetts, where the first Thanksgiving is considered to have been celebrated, Americans are being urged by one of the nation’s leading open borders groups to “open up their homes” to border crossers and illegal aliens. While tens of thousands of border crossers and illegal aliens continue flocking to the sanctuary state of Massachusetts — which now offers driver’s licenses to those in the United States illegally — Jewish Family Services is asking residents to consider bringing new arrivals into their homes.

Further, 17% of all owned homes are occupied by single or married seniors with two or more spare bedrooms. “The surge of spare bedrooms speaks to a mismatch in the housing market, at a time when so many feel there are too few options available,” Salviati said. Seniors aging in place are keeping a significant share of single-family homes unavailable to younger generations, according to Salviati. It’s why, in part, it’s hard for millennials to break into homeownership.

Questions abound. Assume you can convert offices into homes, who wants to live in them? Is a tear-down cheaper?To ease the housing crisis, White House Opens $45 Billion in Federal Funds to Convert Offices Into HomesTaking aim at the nation’s housing crisis, the White House kicked off a multiagency push on Friday to help real-estate developers convert more office buildings emptied by the pandemic into affordable housing.The initiative aims to harness $35 billion in low-cost loans already available through the Transportation Department to fund housing developments near transit hubs, folding the initiative into the Biden administration’s clean-energy push.It also opens...

Attorney John Thaler joined Brannon Howse with former Arizona State Representative Mark Finchem Friday night on Lindell TV to explain the alleged phony mortgage and real estate transaction scam used by the Sinaloa Cartel to bribe elected officials and control the state of Arizona. The Sinaloa Cartels and the treasonous Americans who work with them are destroying our country by flooding Arizona with dangerous drugs and crime. The Gateway Pundit reported that Tempe Police seized over 30 million lethal doses of fentanyl. In 2022, the DEA nationwide seized over 50.6 million deadly fentanyl-laced fake prescription pills and over 10,000 pounds...

BREAKING: Katie Hobbs and Runbeck election services have been named as recipients of Sinaloa cartel bribes via deeds of trust and phony mortgages in AZ senate investigation. When are the criminals running this country going to be held accountable? A California-based law firm has accused Arizona Gov. Katie Hobbs, Secretary of State Adrian Fontes, Runbeck Election Services, and a slew of other election officials, mayors, judges, city councilman, and county supervisors in the state of receiving bribes from the Sinaloa cartel. During a Thursday hearing before the Senate Elections and Municipal Oversight & Elections Joint Committee, the principal investigator for...