Housing costs in the United States have been skyrocketing, outpacing median household incomes and creating a significant affordability crisis. According to a recent analysis by Redfin, the typical household in the U.S. needs to earn $113,520 a year to afford the median home price. This is a whopping 35% more than the typical household’s annual
Real Estate
The recent increase in rent prices for one- and two-bedroom apartments across the U.S. marks the end of a six-month decline. According to a report by Zumper, the average monthly cost for a one-bedroom apartment rose to $1,487, showing a 0.3% increase from the previous month. Similarly, the price for a typical two-bedroom apartment experienced
The spring housing market, usually bustling with activity, is currently experiencing a lackluster period with mortgage demand at a standstill. The Mortgage Bankers Association reported that application volume remained essentially flat last week, dropping by 0.7% compared to the previous week. This trend is concerning as it indicates a lack of consumer interest in obtaining
Federal prosecutors have taken legal action to seize two luxury apartments in New York City worth $14 million. These apartments were allegedly purchased with funds obtained through a corrupt scheme involving Mongolia’s massive copper mine, a former prime minister, and his son, a Harvard Business School graduate. The lawsuit, filed in U.S. District Court in
Pacaso, a luxury vacation home co-ownership platform, is making waves in the real estate market by introducing a new approach to shared ownership. Founded in 2020, the company initially listed multimillion-dollar homes for co-ownership, catering to wealthier buyers. However, in a strategic move to appeal to a wider audience, Pacaso has now launched thousands of