As consumers eagerly await the Federal Reserve’s interest rate cut, another crucial event is coming up that could significantly impact the real estate market – the reauthorization of the National Flood Insurance Program (NFIP). Established by Congress in 1968, the NFIP is the primary flood insurance provider in the United States, offering coverage to millions
Real Estate
Affordable housing is a critical issue in the United States, affecting individuals and families from all walks of life. Vice President Kamala Harris recently outlined an economic plan that emphasized the importance of affordable housing. Her proposal includes the construction of 3 million new housing units, aimed at improving affordability across the country. This initiative
Over the past decade, the shareholder returns of leading homebuilders such as D.R. Horton and Lennar have outperformed the broader S&P 500 index. Despite facing recent downgrades in their investment outlook, there is still optimism among some investors regarding the industry’s potential for growth and performance. This trend suggests that there may be underlying strengths
In July, closed sales of previously owned homes rose by 1.3% compared to the previous month. This increase marked the first gain in five months. Despite this improvement, sales were 2.5% lower than the same period last year. The Northeast saw the most significant gains in sales, while the Midwest experienced flat sales. Prices also
The trend of falling mortgage rates in the past few weeks has been significant, but it seems the rush to refinance has slowed down. Refinance applications dropped by 15% last week, which is a notable decrease. Despite this decline, there has been a substantial increase of 90% compared to the same period last year. The
In the wake of the Bank of England’s first interest rate cut in four years, Britain’s biggest high street lenders have swiftly responded by slashing borrowing costs. This move has led to a surge in homebuyer activity, with Barclays, Halifax, HSBC, and NatWest now offering five-year fixed rate mortgages below the BOE’s key rate of
Inflation rates in the United States continued to decrease in July, largely due to a drop in price pressures for common consumer staples such as food and energy, as well as physical goods like automobiles. According to the U.S. Department of Labor, the consumer price index (CPI) rose by 2.9% in July compared to the
The construction boom in the United States has had a significant impact on the rental market, leading to lower rents and other benefits for renters. With record levels of construction activity since the pandemic, there has been a surge in the supply of empty units, resulting in more inventory being available for renters. In June,
Homeowners across the United States are currently in possession of an impressive $17 trillion in equity, a figure that has significantly increased from previous years. This substantial equity growth translates to an average homeowner gaining $28,000 more in equity compared to the previous year. Despite this wealth tied up in home equity, many homeowners are
Despite the U.S. economy remaining strong amidst inflation and high interest rates, a recent survey by Affirm revealed that 59% of Americans believe that the country is currently in a recession. This false belief is largely driven by the higher costs of living and the challenges many are facing in making ends meet. According to