housingmarket
The housing crisis is an increasing concern across Europe, with shortages and escalating rents becoming more prevalent. Homelessness is also on the rise, posing a significant problem. According to the OECD, the UK has the highest rate of homelessness in Europe, having more than doubled over the past 13 years. Housing tenure has undergone significant changes in the UK in recent decades. In England, the proportion of private renters surpassed that of social renters in the early 2010s for the first time in more than four decades of available data. Similarly, the gap between private and social ren...
Euronews (English)
The housing market, a significant indicator of economic health, has been undergoing a dramatic shift, particularly concerning millennials and Generation Z. Over the past three years, the cost of both renting and buying a home has surged significantly. However, the gap between the two has widened to an unprecedented extent. The median monthly cost of home ownership has risen to $2,800, compared to $1,800 for renting. This gap of over $1,000 is nearly double what it was during the housing bubble that precipitated the Great Financial Crisis. This disparity doesn’t even factor in the substantial d...
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In February, house prices in the UK increased by an average of 0.4% on the previous month. However, there has been an annual decline of -2%, according to the latest UK House Price Index (UK HPI). The annual price fall lowers the average house price in the UK to £281,000 (€328,000), with prices varying significantly depending on the location of the property. The North East saw the highest monthly increase in house prices, rising by 3.2% in the year leading up to February 2024. Meanwhile, the North West experienced the highest annual growth, with prices increasing by 2.9% over the same period. D...
Euronews (English)
The average price of a home in the UK fell by 1% from February to March, said Britain’s biggest mortgage lender, Halifax, on Friday. Last month’s drop, the first recorded since September, comes after a 0.3% rise seen in the month to February. March’s figure was up 0.3% year-on-year, much lower than the 1.45% annual rise expected by economists polled by Reuters. A typical UK home now costs £288,430 (€336,298), around £2,900 (€3,381) less than last month. "The housing market remains weak on the back of a prolonged period of elevated interest rates as the market waits patiently for the Bank of En...
Euronews (English)
Nationwide, rents remained fairly flat in July. But in some markets, prices soared several dozen percentage points higher than they were a year ago. Jonas Bordo of Dwellsy shares 20 cities across America where renters are experiencing more than a little sticker shock. But when it comes to markets with the fastest-rising rents, well, that’s a different story. This group changes rapidly and unpredictably, and often includes cities you’d never expect. “July’s hottest rental markets are spread all over the country—from the East Coast to the West…and lots are in the Midwest, too,” says Bordo, coaut...
ValueWalk
Utah is the fastest state to sell your home in with an average of 27.07 days taken to close a saleOregon, Georgia, and Wyoming have an average of 31 days to close a saleNationwide, closing a sale on a home takes an average of 33.5 daysWhen transacting real estate, one must consider how long it takes to close the sale, especially if the plan is to sell a home and buy another at the same time. UtahUtah ranks as the easiest state to sell a home, with an average of 27.07 days to close in 2023. This is 4% faster than the same period in 2022, which had an average of 28.43 days to close in the state....
ValueWalk
Hawaii is revealed as the state where it takes the longest time to sell your homeLouisiana comes in second, followed by Mississippi in thirdNew Hampshire ranks as having the shortest amount of time on the market before being soldThese Are The States Where It Takes The Longest Time To Sell Your HomeHawaiiHawaii is revealed as the state where it takes the longest time to sell your home. Hawaii takes the top spot as taking the longest time to sell your home when compared to all 50 states. The median number of days a home in this state is on the market for is 65 days. The metro area within Hawaii ...
ValueWalk
In his podcast addressing the markets today, Louis Navellier offered the following commentary. Crude HijackingThe energy stocks I recommend have been especially strong in the past few weeks. They have been aided by the tension in the Middle East as Iran continues to hijack ships. As a result, the U.S. Navy dispatched two amphibious warships and thousands of Marines to the Middle East to counter Iranian threats. China imported 11.4 million barrels per day of crude oil in the first six months this year, which is 11.7% higher than a year ago. Interestingly, 2.13 million barrels per day of crude o...
ValueWalk
Recently the Biden administration announced that effective May 1, loan applicants with good credit scores will pay higher mortgage fees and subsidize applicants with poor credit scores to create “equitable” opportunities for home ownership. This will sow chaos and confusion in an industry already beset with falling sales due to higher mortgage rates, a shortage of housing, and sellers not wanting to sell at lower rates. Note that the actual dollar value of the higher credit score buyer is still lower than the lower credit score buyer, but the percentages have changed. The higher credit score b...
ValueWalk
Despite economic woes and bank failures, construction shows strength across Q1 In Q1 of 2023, total construction starts were 9% below that of 2022. Year-to-date, residential starts were down 29%, nonresidential and nonbuilding starts grew 6% and 12% respectively. For the 12 months ending March 2023, total construction starts were 11% higher than the 12 months ending March 2022. Nonresidential and nonbuilding starts were 33% and 21% higher, respectively, while residential starts lost 11%. “Construction starts activity has yet to see the impact of tightening financial conditions in the wake of t...
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