Existing home sales went up for the first time in over two years, but they are still low overall. Many people signed contracts when mortgage rates were at their lowest in two years.
Florida and Texas are seeing a big increase in house listings, which is affecting prices in those areas. Hurricane Milton had an impact on statistics in Florida.
Each local market has different trends, and some data is compared to figures from 2019 to show changes over time.
Housing expenditures have not been stable over time, with renters seeing a 25% rise in relative spending over 40 years.
Owner expenses in data are overstated, and assessing true housing costs involves factors like inflation, real returns, and leverage.
Americans are spending more on housing, leading to real compromises and budget constraints, with a net increase in spending despite attempts to cut back on real consumption.
The New Tenant Repeat Rent Index provides a more accurate measure of current housing market conditions and predicts future disinflation.
Housing inflation is currently the main driving force behind overall inflation, with non-housing inflation remaining relatively stable.
The 'speed limit' theory of inflation suggests that the growth rate of the labor market, rather than its level, is a key determinant of rent inflation and overall price stability.
Housing starts for December were 1.499 million, which is 15.8% higher than November but 4.4% lower than December 2023.
Single-family housing starts rose slightly compared to November, while multi-family starts saw a drop year-over-year.
Total housing starts decreased by 2.6% in 2024 compared to 2023, with single-family homes seeing a slight increase while multi-family homes declined significantly.
The housing crisis is not just in cities, but also in suburbs where banal cityscapes are treated as architectural gems.
Historic preservation policies in expensive cities like New York often benefit elite areas while ignoring the suburbs and banal neighborhoods.
Efforts to address housing shortages in major cities like New York require redeveloping existing structures and involving suburbs in housing solutions.
Jacobin magazine published a wildly incorrect statistic about Blackstone owning a large portion of U.S. houses, leading to a lot of criticism. It's important to check facts before sharing numbers, especially big claims.
The actual ownership by Blackstone is much smaller than claimed, showing how misinformation can spread easily. Even big publications can make serious mistakes when they don't verify.
Reading the article gave new insights into why some people might be drawn to communism, even if the statistics are wrong. Understanding different viewpoints helps us discuss these issues better.
Rent growth has slowed sharply at large holders of multifamily properties like MAA, Equity Residential, and Avalon Bay Communities in the past year.
Despite overall rent growth slowdown, year-over-year growth in rent renewals remained in the 4.5% - 5% range in January, showing a different trend.
There is a lesson to be learned from the 1994-1995 Fed tightening episode where the Federal Reserve raised the policy rate significantly without triggering a recession, providing valuable insights for current monetary policymaking.
Big tech companies like Apple and Facebook are hurting news media by controlling what people see online. Most people don’t realize how much these companies influence the news.
A recent coroner's report revealed a tragic case where a toddler died due to mold in his home, leading to serious questions about housing conditions and landlord responsibilities.
Many people in public relations are struggling with the rising cost of living and are looking for raises or even second jobs to make ends meet. This shows how the financial situation really affects workers in this industry.
Housing in Britain is currently unaffordable due to bloated planning restrictions, costing residents in terms of space, age of homes, and financial burden.
The proposal to reclaim land from Dogger Bank for housing development comes with an estimated cost of £97.5bn, with potential present value benefits of £622bn, showing a promising cost-benefit ratio.
The development of a new city on Dogger Bank has the potential to significantly impact economic activity, urban infrastructure, land prices, and GDP gains, making it a complex but potentially beneficial endeavor.
Every $100 increase in Houston's rents leads to a 9% increase in the local homeless population, highlighting the critical link between housing affordability and homelessness.
Single-room occupancy apartments (SROs) are seen as a viable solution to homelessness by experts, offering a historical perspective and potential to address regulatory challenges for implementation.
SROs could provide a missing piece in combatting mass homelessness by offering a land-efficient, socially diverse housing option suitable for various demographics, advocating for their integration and allowing them is crucial for progress.
Many people misunderstand what 'affordable housing' really means -- it's not just cheaper housing, but subsidized, rent-regulated housing.
The terminology around housing has evolved over time, from 'public housing' to 'affordable housing', aiming to market the benefits to consumers.
High housing costs are closely tied to high construction costs, and providing truly affordable housing requires addressing these underlying cost issues.
The author reflects on the concept of class and wealth, highlighting the contrast between different social classes and the impact on individuals' lives.
Owning and maintaining a house can symbolize various aspects of life, from struggles and financial burdens to personal identity and the pursuit of a home filled with memories.
Time is viewed as true wealth, emphasizing the importance of how individuals spend and value their time, regardless of social class or material possessions.
Progressives in San Francisco faced a setback when voters passed non-progressive propositions, such as strengthening the police and teaching algebra in 8th grade.
San Francisco Chronicle writers criticized the progressives for their inability to address important issues like crime, housing, and education effectively.
The response to the city's changes showed a lack of adaptability from some progressives, focusing more on opposition than practical solutions.
Multifamily construction is back to pre-Covid levels, showing that building times are normalizing again. This means we might see fewer new projects coming soon.
Single-family construction is taking longer than usual, with a delay of about a month compared to normal times. This could impact how quickly homes are available.
Municipal regulations are likely slowing down construction, making it harder for builders to move forward quickly. This could lead to a longer wait for new housing developments.
Mortgage rates are at historic highs, hovering between 7-8% and leading to all-time high home prices despite low affordability.
Inventory shortage persists as people with locked-in low mortgage rates hesitate to sell, contributing to the rise in home prices.
Even with rising interest rates and low affordability, US home prices show resilience with 12 consecutive years of gains, indicating a continuing strength in demand.
Sitting in traffic is a significant problem that needs addressing, especially in areas like Northern Virginia.
Congestion pricing could be an effective policy solution to address traffic congestion by pricing the externality of time wasted in traffic.
Dependency on cars for transportation poses risks like accidents and contributes to a sedentary lifestyle, emphasizing the need for better transit options.
The Touro Land Use Institute hosts a podcast that covers important land use topics. It's a good resource for anyone interested in how land is planned and used.
Kevin Erdmann participated in a podcast interview discussing current housing and land use issues. His insights might help listeners understand the challenges in the housing market.
The podcast features discussions with experts like Michael Lewyn and Jennifer Casey, providing valuable perspectives on land use in areas like Long Island. Listening can broaden your understanding of local land issues.