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A collection of 135 posts

97% of Homeowners With a Mortgage Now Have a Rate Below Today's Market Rate, Per the Economist

A Nearly Universal Lock-In 97% of US homeowners with a mortgage now have a rate below today's market rate, per the Economist. In 2022, it was just 54%. That is why the housing market is frozen: almost no one wants to sell and give up a cheap

Canada's Housing Crash Is Approaching America's 2008 Bust, BMO Says

A correction on a 2008 scale Canada's housing crash is now approaching America's 2008 bust, per BMO. Canadian home prices have fallen 20.5% nationally from their early-2022 peak, close to the 26% decline the US saw during the 2008 housing crash, according to BMO

Sellers Outnumber Buyers by 63% as 2026 Shapes Up as the Worst Year for Home Sales on Record, per Yahoo Finance

Plenty of Homes, Almost No Buyers More homes are hitting the market than at any point since 2000, yet 2026 is shaping up to be the worst year for existing home sales on record, per Yahoo Finance. Inventory has climbed to its highest level in years, with more than 1.

Housing Costs May Not Return to Normal Until Around 2031, per Redfin

Normal Is Years Away When will housing costs get back to normal? Possibly not until around 2031, per a new Redfin analysis. Redfin defines "normal" as the return of August 2018 affordability levels, when the typical buyer spent 30% of their income on the monthly mortgage payment. That

You Now Need Over $120,000 to Afford a Home as Typical Household Earns $87,460, Per Atlanta Fed

Six figures is no longer enough to buy the median home A household now needs to earn over $120,000 a year to afford a median-priced home, while the typical household earns just $87,460. The figures come from the Federal Reserve Bank of Atlanta's Home Ownership

Pending Home Sales Hit 71.2 in August as Buyers Stay Sidelined

Pending Home Sales Hit 71.2 in August as Buyers Stay Sidelined

"Nationally, contract signings today are running roughly 30% below where they were in the years leading up to the pandemic." That is NAR chief economist Lawrence Yun on the August pending home sales data, released September 17. The national Pending Home Sales Index rose 0.3% month over

Hoping for a 2008-Style Housing Crash? Don't Hold Your Breath

Hoping for a 2008-Style Housing Crash? Don't Hold Your Breath

Americans hoping for an '08-style housing crash to afford a home are out of luck. A LendingTree consumer survey found 31% of Americans are actively rooting for a housing market crash, and 59% of Gen Z hopes for one. More than a quarter of non-homeowners say a

NYC ordered to scrap Mamdani’s pied-à-terre tax rollout

NYC ordered to scrap Mamdani’s pied-à-terre tax rollout

A Staten Island judge ordered NYC to scrap the rollout of Mayor Mamdani’s pied-à-terre tax on luxury second homes, invalidating 17,000 notices and forcing the city to redo its property roll.

Globe and Mail: Interest rates could keep rising for decades

The Globe and Mail argues higher interest rates could be the norm for decades. U.S. 10-year yields recently broke 5.2% and 30-year mortgages sit above 7%.

30-Year Fixed Mortgage Rate Jumps to 7.45%, Highest Since April 2024

The 30-year fixed mortgage rate jumped 19 basis points to 7.45%, the highest since April 2024, as bond yields surged on Fed comments, higher oil, and stronger economic data.

30-Year Fixed Mortgage Rate Approaches 7.5%

30-Year Fixed Mortgage Rate Approaches 7.5%

MortgageNewsDaily says the average top-tier 30-year fixed mortgage rate is now just under 7.5%, the highest since April 2024, as the 10-year Treasury yield tops 5%.

Houston Has 131% More Home Sellers Than Buyers, Redfin Says

Houston Has 131% More Home Sellers Than Buyers, Redfin Says

Houston now has 131% more home sellers than buyers per Redfin, making it the third-strongest US buyer's market as the national seller-buyer gap hits a record 57.9%.

Homebuilders Say ICE Crackdowns Are Squeezing Labor Supply

Homebuilders told John Burns Research that ICE crackdowns are causing labor shortages and stretching cycle times, adding pressure on top of higher rates and tariff-driven input costs.

Miami Has 138% More Home Sellers Than Buyers, Redfin Says

Miami Has 138% More Home Sellers Than Buyers, Redfin Says

Miami has 138% more home sellers than buyers per Redfin, second only to Nashville, as the U.S. hits its strongest buyer's market on record.

Merkley, Wyden Pitch $50K Federal Match for First-Time Homebuyers

Merkley, Wyden Pitch $50K Federal Match for First-Time Homebuyers

Sen. Jeff Merkley and cosponsor Sen. Ron Wyden are pitching the Homeownership Promise Act, a 5:1 federal savings match up to $50,000 for first-time homebuyers. Homebuilders and mortgage lenders are the read-through.

US home prices posted fastest annual gain in a year in August: Redfin

US home prices posted fastest annual gain in a year in August: Redfin

Redfin says US home prices rose 3.7% year over year in August, the fastest annual pace in a year, even as sellers outnumbered buyers by 58% in the strongest buyer’s market on record.

US Home Sellers Outnumber Buyers by Record 563,000: Redfin

US Home Sellers Outnumber Buyers by Record 563,000: Redfin

Redfin says US home sellers outnumbered buyers by a record 58% in August 2026, roughly 563,000 more listings than active buyers. Sun Belt metros lead the imbalance as builders keep adding supply into a stalled demand backdrop.

US Home Sellers Hit 6-Year High as Buyer's Market Deepens: Redfin

US Home Sellers Hit 6-Year High as Buyer's Market Deepens: Redfin

Redfin data shows US home sellers hit a 6-year high in August 2026, outnumbering buyers by 58% as concessions reach nearly half of all sales and mortgage rates push toward 7%.

Affordable Apartments Sit Empty as Poorest Americans Priced Out

Affordable Apartments Sit Empty as Poorest Americans Priced Out

NBC News reports affordable apartments are sitting empty across U.S. cities because the poorest renters still cannot afford them, with Austin vacancies near 16%. The mismatch has implications for apartment REITs and homebuilders.

30-Year Mortgage Rate Hits 7.24%, Highest Since Early 2025

30-Year Mortgage Rate Hits 7.24%, Highest Since Early 2025

The average 30-year US mortgage rate climbed to 7.24%, per Mortgage News Daily — the highest level since early 2025, and a fresh headwind for homebuilders and buyer demand.

59.5% of U.S. Homes Sold Below Asking in August: Redfin

59.5% of U.S. Homes Sold Below Asking in August: Redfin

Redfin reports 59.5% of U.S. homes sold below their original asking price in August as new listings hit a 6-year high and buyers gain negotiating leverage, especially in Florida and Texas.

Jerome Powell Sells Gibson Island Estate for $7.2 Million

Jerome Powell Sells Gibson Island Estate for $7.2 Million

Former Fed Chair Jerome Powell sold his Gibson Island, Maryland waterfront mansion for $7.2 million in an off-market deal. He bought it in 2006 for $3.86 million.

Mamdani Releases 170,000 Pages Showing NYC Misled Public on 9/11 Air

Mamdani Releases 170,000 Pages Showing NYC Misled Public on 9/11 Air

NYC Mayor Zohran Mamdani released 170,000 pages of internal records suggesting officials misled the public about the safety of Ground Zero air after the 9/11 attacks, days before the 25th anniversary.

Manhattan Rents Hit Record: 2BRs at $8,054, 3BRs at $12,228

Manhattan Rents Hit Record: 2BRs at $8,054, 3BRs at $12,228

Manhattan rents set new all-time highs in July, with two-bedrooms averaging $8,054 and three-bedrooms hitting $12,228, as inventory fell 22% year-over-year.

Manhattan Rents Hit Records: Studios $4,088, One-Beds $5,486

Manhattan Rents Hit Records: Studios $4,088, One-Beds $5,486

Manhattan studios now average $4,088/month (+8% YoY) and one-bedrooms $5,486 (+7%), with two- and three-bedroom rents also hitting records as listings collapse.