Having been out of whack after the covid-19 pandemic, America’s housing market may at last be rebalancing. Our interactive map shows where homeownership is becoming more appealing https://t.co/QufGGb3Ocv ...

Across America, conditions have improved for prospective home buyers relative to renters. Our interactive map shows where homeownership is becoming particularly appealing https://t.co/QufGGb3Ocv ...

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Whereas in 1960 more than three-quarters of American married couples buying a new home had a single breadwinner, today it is less than one in three. We explain why https://t.co/KnyCcCxA7S ...

Our interactive map shows where in America homeownership is becoming more appealing https://t.co/2QCsLXLC6P ...

>> THIS IS "BALANCE OF POWER," LIVE FROM WASHINGTON, D. C. JOE: FROM BLOOMBERG'S WASHINGTON, D.C. , STUDIOS TO OUR TV AND RADIO AUDIENCES WORLDWIDE, WELCOME TO "BALANCE OF POWER." I AM JOE MATHIEU. TONIGHT, FULL ACCESS. --FULL ACCESS.TWO MEMBERS OF CONGRESS, TOM MASSIE AND RO KHANNA, ARE SUCH A BRIEF THE REPUBLICAN WHAT THEY SAW FROM THE UNREDACTED EPSTEIN FILES. ACROSS THE POND, THE EPSTEIN SCANDAL HAVING A RIPPLE EFFECT ON BRITISH POLITICS. PRIME MINISTER KEIR STARMER, WHO NEVER MET EPSTEIN, IS FIGHTING F ...

Core Viewpoint - The belief that homeownership is a primary means of saving and wealth building is challenged, with evidence suggesting that real estate may not always appreciate in value as expected, particularly when considering inflation and maintenance costs [4][5]. Real Estate Investment Insights - Homeownership is often viewed as a significant financial investment, yet economist Peter Schiff argues that this notion is misleading, as real estate remains a popular investment class despite its potential drawbacks [4]. - A 2024 Gallup survey indicates that 36% of Americans consider real estate the best investment, compared to only 22% for stocks and mutual funds [4]. Performance Comparison - Since 1990, stocks have outperformed the housing market by over 1,000%, highlighting the importance of a diversified investment portfolio rather than relying solely on home equity for retirement [5]. Costs of Homeownership - Homeowners spend an average of $6,000 annually on property repairs and maintenance, totaling approximately $180,000 over a 30-year mortgage, which can be nearly half of a home's value [3]. - Hidden costs associated with homeownership include maintenance, upgrades, insurance, and property taxes, which can make renting a more financially viable option for many [6]. Alternative Investment Options - For those seeking to invest in real estate without the burdens of ownership, platforms like Arrived allow investments in shares of vacation and rental properties with minimal initial investment [8]. - Lightstone DIRECT offers accredited investors direct access to multifamily real estate opportunities, enhancing transparency and control while reducing fees [10][11]. - The mogul platform provides fractional ownership in high-quality rental properties, ensuring monthly rental income and tax benefits without the need for significant down payments [14][15].

Core Insights - The housing market has been challenging for many Americans, with elevated mortgage rates and home prices leading to a loss of hope in homeownership, particularly among younger generations [1] Company Insights - Rocket Companies, led by CEO Varun Krishna, is experiencing a resurgence in demand for homeownership, with expectations of achieving the highest mortgage loan production volume and gain on sale in four years due to a slight drop in mortgage rates below 6% [2] - Rocket's performance contrasts sharply with the broader mortgage industry, where competitors like PennyMac are facing a slower recovery [3] - The recent quarter has been described as a "tale of two cities," highlighting Rocket's ability to capitalize on lower mortgage rates, which have reached their lowest in three years [4] Market Dynamics - The mortgage market is projected to grow by up to 25%, with existing home sales expected to increase by up to 10% [6] - Higher-income borrowers with strong credit are driving Rocket's new activity, as a modest decline in rates makes home purchases feasible for them, especially if they can leverage home equity [5] - Despite the uptick in mortgage applications, many renters and potential homebuyers still face affordability challenges, with home prices over 40% higher than pre-2020 levels and median home payments exceeding typical household earnings [6][7] - Younger Americans are particularly disadvantaged, facing higher down-payment requirements, student loan burdens, and competition from cash buyers, which complicates their ability to enter the housing market [7]

Core Insights - The article discusses how baby boomers were able to build wealth through favorable housing and retirement conditions that are no longer available to younger generations [1][3][4] - It highlights the systemic changes that have occurred, including the shift from pensions to 401(k)s, which has placed the retirement burden on individuals [3] - The article emphasizes the role of government policies in creating barriers to homeownership for younger generations [4] Housing and Retirement - Baby boomers benefitted from pensions, which have largely been replaced by 401(k)s, shifting retirement responsibilities to employees [3] - Favorable government policies historically encouraged homeownership, allowing middle-class families to purchase homes on a single income [4] - Boomers have actively blocked the construction of new homes, reducing supply and increasing housing costs for future generations [4] Steps for Younger Generations - Young people are encouraged to vote for policies that support housing construction to address the supply shortage [6][7] - Engaging in the political process is crucial, as millennials and Gen Zers represent over 40% of the U.S. population and are expected to dominate future elections [6] - Younger generations should maximize their retirement contributions, as companies may offer support despite the lack of traditional pensions [8]

Core Viewpoint - President Trump's recent comments indicate a preference for maintaining or increasing home prices rather than allowing them to decrease, which he believes would benefit current homeowners [2][4]. Group 1: Housing Affordability Strategy - Trump's strategy to address housing affordability focuses on lowering borrowing costs rather than reducing home prices [2][3]. - He has ordered Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds to help ease mortgage rates [3]. - Plans to ban large institutional investors from buying single-family homes are aimed at preserving homeownership for individuals [3]. Group 2: Market Implications - Trump's stance on not wanting to drive down housing prices could complicate the market for first-time buyers, who are already facing challenges [4]. - The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has increased by over 87% in the past decade, indicating that home prices remain significantly higher than they were ten years ago [4]. - The share of first-time buyers in the U.S. has dropped to a record low of 21%, with the median age of first-time buyers now at 40, reflecting a trend of younger Americans being priced out of the market [5].