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"It's not going to be a matter of struggling to get the inflation rate higher. While higher interest rates are good news for savers, businesses and consumers have become used to paying nothing for money over the past 15 years. Reuters GraphicsREADING YIELDSA market-based Fed model that breaks down the 10-year Treasury yield into its components provides further insight into investors' thinking. This rise in term premium, which spent much of the last decade below zero, reflects high levels of uncertainty about economic outlook and monetary policy, investors said. While the market appears to be confident in its belief in the end of the era of zero interest rates, it is far less so about the economy's actual likely path.

Persons: Sarah Silbiger, Greg Whiteley, It's, Neel Kashkari, Kashkari, Adrian, Crump, Emanuel Moench, John Velis, Leslie Falconio, BNY's Velis, Velis, Paritosh Bansal, Anna Driver 私 Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Treasury, Federal Reserve, York Fed, Minneapolis, Moench, Frankfurt School of Finance, Management, Americas, BNY Mellon, UBS Global Wealth Management, San, San Francisco Fed Locations: Washington ,, U.S, DoubleLine, San Francisco

☆ Biden's top economist says the key to ending the housing crisis is giving cities and developers monetary incentives to build more affordable homes
▼ + stars: | 2023-10-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Biden's top economist says high housing costs are a big part of economic pessimism in the US. A severe housing shortage is the main culprit for steep housing costs. In May, Biden unveiled a "Housing Supply Action Plan," which includes efforts to incentivize denser development and more affordable housing construction. The second way Biden is working to lower housing costs is helping developers with costs by expanding tax credits. The low-income housing tax credit subsidizes purchasing, building, and renovating affordable housing — and it's broadly popular among a variety of interests.

Persons: Jared Bernstein, —, We've, Bernstein, Biden Organizations: US, Council, Economic, Service, of Economic Advisers, Institute, Biden Locations: Washington, Congress

☆ Australia's Byron Bay limits Airbnb-like rentals amid housing crisis
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Sept 26 (Reuters) - Popular Australian tourist destination Byron Bay will limit the availability of some properties for short-term holiday rentals, as authorities try to free up homes for residents amid a nationwide housing crisis. Byron Bay is a beachside destination popular with tourists and celebrities, and was featured in a Netflix reality TV series. "It's well known there has been an undersupply of housing, particularly affordable and diverse housing across the Byron Shire for many years," NSW planning minister Paul Scully said in a statement announcing the policy. "In the current housing crisis, it's important every available means to boost housing stock for the community is utilised." Parts of Byron Bay and nearby Brunswick Heads with "high tourism appeal" will continue without caps.

Persons: Byron Shire, Byron Bay, Chris Hemsworth, Paul Scully, Lewis Jackson, Miral Organizations: Popular, Melbourne, Netflix, Thomson Locations: Popular Australian, Byron, New South Wales, Victoria, NSW, Byron Bay, Brunswick, Australia, Berlin, Barcelona

LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell for the third month in a row in August, as higher mortgage rates, rising prices and a dearth of properties on the market shut out many would-be homebuyers. Would-be homebuyers are also seeing their purchasing power diminish as mortgage rates push higher. Mortgage rates have been echoing moves in the 10-year Treasury yield, which lenders use as a guide to pricing loans. The yield has been climbing amid expectations that the Federal Reserve will keep short-term interest rates higher for longer to fight inflation. “It's possible mortgage rates may go up to 8% in the short run,” Yun said.

Persons: ”, Lawrence Yun, Yun, Freddie Mac, “, ” Yun Organizations: ANGELES, National Association of Realtors, “, Buyers, NAR, Treasury, Federal Reserve, Federal Locations: U.S, It’s

These are tough times for the housing market. Meanwhile on Wednesday, the Mortgage Bankers Association said mortgage applications have plunged 28% since last year and are now at the lowest level since late 1996. After two years of a pandemic-fueled housing market frenzy and another year of rising rates and tight inventory, consumers are weary. During the pandemic, as the Federal Reserve moved to lower interest rates, mortgage rates fell to 3% and below, prompting a wave of refinancings. “Mortgage applications declined to the lowest level since December 1996, despite a drop in mortgage rates,” said Joel Kan, deputy chief economist at the Mortgage Bankers Association.

Persons: Freddie Mac’s, ”, Lisa Sturtevant, ” Sturtevant, Joel Kan, Redfin, Niko Voutsinas Organizations: Mortgage Bankers Association, National Association of Home Builders, Housing, Bright MLS, “, Federal Reserve, Mortgage, Association Locations: Washington, Chicago

☆ Silicon Valley billionaires want to build a new city in rural California, but locals are skeptical of the project: 'Their secrecy has caused a lot of problems'
▼ + stars: | 2023-09-05 | by ( Janie Har | Associated Press | ) www.businessinsider.com time to read: +9 min

Silicon Valley billionaires revealed plans to build a new city after buying $800 million in land. The land was quietly purchased in Solano County, a rural area near San Francisco and Sacramento. Most of the land purchased is in the southeastern portion of the county, with parcels stretching from Fairfield to Rio Vista. Billionaires want to build a new city in rural California, but they're encountering wavering support from locals and lawmakers. Solano County homes are among the most affordable in the San Francisco Bay Area, with a median sales price of $600,000 last month.

Persons: Jan Sramek, Goldman Sachs, Flannery, Laurene Powell Jobs, Reid Hoffman, Marc Andreessen, Marc Andreeseen, Lauren Powell Jobs, Michael Moritz, Paul Chinn, Countess, Michael Kovac, Sramek, Mike Thompson, Terry Chea, Princess Washington, Thompson, they're, he's, John Garamendi, Hoffman, Andreessen, Ron Kott, Kott Organizations: Service, FRANCISCO, Flannery Associates, Silicon, LinkedIn, New York Times, San Francisco Chronicle, Getty, Fair, Solano, US Air Force, FBI, of Treasury, AP, San Francisco Bay Area, Travis Air Force Base, US Locations: Solano County, San Francisco, Sacramento, Wall, Silicon, Northern California, Solano, Silicon Valley, California, Fairfield, Rio Vista, U.S, United Kingdom, Ireland, walkable, Terry Chea California, California's, San Francisco Bay, Princess, Suisun City, Travis

☆ Op-Ed: Less affordable homes don't just ruin American dreams, they're a threat to the economy
▼ + stars: | 2023-08-25 | by ( Michael Farr | Keith B. Davis | ) www.cnbc.com time to read: +5 min

The National Association of Realtors said earlier this month that its housing affordability index fell during the second quarter to its lowest level on record. Not coincidentally, the first quarter of 2021 turned out to the be peak in housing affordability. The consequence has been the massive drop in housing affordability to new lows. But still, housing affordability is as low as it's been since at least 1986. Given its importance to the wider economy, a robust housing market will likely be a precondition to achieving a relatively seamless transition to long-term economic expansion.

Persons: It's, Freddie Mac, Justin Lahart, it's Organizations: National Association of Realtors, Fed

☆ Building Green: New Technologies to Create Less Polluting Cement
▼ + stars: | 2023-08-24 | by ( Yusuf Khan | ) www.wsj.com time to read: +8 min

Roughly 7% of all carbon emissions today come from cement production, making it one of the highest-emitting industrial sectors, according to the consulting firm McKinsey. PREVIEW“Concrete is an essential building material,” said Claude Loréa, director of cement, innovation and ESG at the Global Cement and Concrete Association. About two thirds of the clinker emissions are released by the limestone when heated while the rest come from the combustion of fuels to create the heat. Increased efficiencyOne way the industry is looking to improve sustainability in cement production is by targeting efficiency gains. Cemex, one of the world’s largest cement producers, has been working with Switzerland-based Synhelion to produce clinker using solar energy rather than coal.

Persons: ”, Claude Loréa, Aidan O’Sullivan, ” O’Sullivan, Gianluca Ambrosetti, Christoph Beumelburg, Rick Fox, Fox, Partanna, Hurricane Dorian, Yusuf Khan Organizations: McKinsey, Sustainable Business, Global, Concrete Association, Carbon Re, International Energy Agency, IEA, Shell, National Basketball Association Locations: portland, Spain, Switzerland, Heidelberg, Brevik, Norway, Bergen, “, Delaware, Bahamas, Vegas, yusuf.khan

☆ The 15 best U.S. cities for first-time homebuyers—the top 3 are in Texas
▼ + stars: | 2023-08-24 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

If you're a first-time homebuyer, you might want to consider moving to Texas. Five Texas cities land among the top 15 places to buy your first home, according to a recent analysis by financial services company SmartAsset, which ranked 185 metro areas based on affordability, growth potential, competition and demographics to determine the best possible home investment for young buyers. Of those ranked, the military town of Killeen, Texas, came out on top as the No. The number of homes available in Killeen is higher than most other cities, which favors buyers, and it's a young city, with a higher-than-average percentage of residents under the age of 40. Here's a look at the top 15 cities for first-time homebuyers, along with each city's median home price.

Organizations: Texas ., U.S Locations: Texas, Texas . Five Texas, Killeen , Texas, Killeen, U.S

☆ NYC rolls out plan to convert empty office buildings into 20,000 homes as remote working persists
▼ + stars: | 2023-08-22 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

NYC Mayor Eric Adams outlined a proposal to convert office buildings into affordable homes. Adams said the goal is to create as many as 20,000 homes to help solve the city's housing crisis. "It makes no sense to allow office buildings to sit empty while New Yorkers struggle to find housing. Empty office buildings are an issue across US cities including San Francisco and Chicago. A recent study by the National Bureau of Economic Research found that over 2,000 US office buildings could be transformed into as many as 400,000 apartment units.

Persons: Eric Adams, Adams, Dan Garodnick, Maria Torres, Meta Organizations: Service, New York's Department of City, Housing Opportunity, New York City Department of Buildings, of Standard, Appeals, Springer, Colliers, New York Times, National Bureau of Economic Research Locations: Wall, Silicon, York City, Manhattan, New York, San Francisco, Hudson Yards, Chicago

☆ Climate change and extreme weather, like Maui wildfires, are hurting affordable housing
▼ + stars: | 2023-08-21 | by ( Anna Bahney | ) edition.cnn.com time to read: +10 min

For people on Maui and across the US, climate change is making the affordable housing crunch even worse. “This is why they have been building these affordable housing buildings. It is a safe place, but it doesn’t feel like home.”Affordable housing picture on Maui was already ‘pretty grim’For people on Maui and across the US, climate change is making the affordable housing crunch even worse. But not fires damaging buildings and taking lives.”“The affordable housing picture was pretty grim on Maui even before the fire,” he said. “There was more than one kitchen, more than one family living there.”These types of cobbled-together solutions to affordable housing are now gone, as are other recent hard-won affordable housing projects.

Persons: Josh Green, Hannah Harris, Tony Ellett, ”, Harris, “, ” Harris, Ellett, Jae C, Shantal Catanach, Keanu, ” Catanach, she’s, Stan Franco, Franco, –, Diane Yentel, ” Yentel, Yentel, Hurricane Sandy, Sandy, Peter Niess, Justin Sullivan Organizations: DC CNN, Urban Institute, UN, University of Hawaii’s Economic Research Organization, US Bureau of Labor Statistics, NOAA National Centers for Environmental, Joint Center for Housing Studies, Harvard University, Income Housing Coalition, Federal Deposit Insurance Corporation, Hurricane, Maui Architectural Locations: Washington, Maui, Lahaina, Catanach, Maui County, Hawaii, Corelogic, Maui –, Lahaina , Hawaii

☆ Goldman Sachs: 20 Cities With Highest and Lowest Home-Price Growth
▼ + stars: | 2023-08-17 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Goldman Sachs says determined home buyers aren't being deterred by higher interest rates. Strategists at Goldman Sachs no longer expect home prices to drop for the full year 2023. Homeowners who are locked into lower rates aren't likely to give that up in exchange for new property. Housing affordability has returned to its historic 2007 lows, according to Goldman Sachs' Housing Affordability Index. This means smaller, more affordable homes are increasing demand, leading to higher price growth in that part of the housing market.

Persons: Goldman Sachs, Roger Ashworth, Goldman Locations: Charlotte, Atlanta

☆ US home builders ramped up construction in July, beating expectations
▼ + stars: | 2023-08-16 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Housing starts, a measure of new-home construction, climbed to a seasonally adjusted annual rate of 1.452 million in the month, beating market expectations of 1.448 million, according to data released Wednesday by the Census Bureau. “Buyers embraced new homes in the first half of this year as a welcome alternative to the massive shortage of existing homes,” Ratiu said. The slight increase in starts suggests builders have some optimism, she said, though it remains to be seen what future mortgage rate increases may mean for the market. “In many cases, even repurchasing their same home at today’s mortgage rates would be out of a typical buyer’s price range.”Mortgage rates are hovering around 7% and interested buyer traffic is slowing down for some builders. The National Association of Home Builders/Wells Fargo Housing Market Index, released Tuesday looks at current sales, buyer traffic and the outlook for sales of new construction homes over the next six months.

Persons: George Ratiu, “ Buyers, ” Ratiu, “ Homebuilders, ”, “, eeking, Kelly Mangold, ” Mangold, Alicia Huey, Warren Buffett’s Berkshire Hathaway, LEN, Horton Organizations: DC CNN, Housing, Census, “, West, Real Estate Consulting, National Association of Home Builders Locations: Washington, Midwest, West, Wells Fargo, Lennar

☆ Looking to buy a starter home? They're more expensive than ever.
▼ + stars: | 2023-08-13 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +2 min

In June, the median sale price for the typical starter home reached an all-time high of $243,000. The income needed to purchase a typical starter home has increased 13% from 2022, to $64,500. That's because starter homes are disappearing from the market as homeowners with low, locked-in monthly payments refrain from listing their homes for sale, and homebuilders focus on more lucrative projects. It means the few that are making their way to the market are priced way higher than they once were. Here's the state of starter homes right now.

Persons: Gen Zers Organizations: Service Locations: Wall, Silicon

☆ California found a way to ignore NIMBYs and build more housing
▼ + stars: | 2023-08-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

California may have found an effective model to build affordable housing more quickly. The law applies to all regions of California that haven't met their housing construction targets, which is almost everywhere in the housing-scarce state. Between 2018 and 2021, 156 projects with more than 18,000 units have been approved or are under review under SB 35. SB 35 projects are also exempt from review under the California Environmental Quality Act, further speeding up the approval process. "It'll be catastrophic if it's not extended," Ramie Dare, director of real estate at the non-profit affordable housing developer Mercy Housing California, told the researchers.

Persons: —, Bill, haven't, it's, Caleb Roope, Scott Wiener Organizations: UC Berkeley, Service, Terner Center, Housing Innovation, Bay Area, Pacific Companies, Mercy Housing Locations: California, Wall, Silicon, Bay, Los Angeles County, Mercy Housing California

☆ HGTV star Tarek El Moussa says he's preparing for his 'biggest ever flip.' The tenants of the building say they're being evicted.
▼ + stars: | 2023-08-04 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

HGTV star Tarek El Moussa is facing backlash from a group of tenants in North Hollywood. The tenants say they are being evicted from the building El Moussa intends to flip. El Moussa is best known for being the star of HGTV's "Flip or Flop" alongside his wife, Heather Rae El Moussa, who also stars in Netflix's "Selling Sunset." In a video posted on Instagram on July 14, El Moussa called the property his "biggest ever flip." "We got so lucky to find this land, because finding land like this in North Hollywood is literally impossible," he said.

Persons: Tarek El Moussa, El Moussa, we've, Clare Letmon, Letmon, I've, they've, Cathy Livas, Heather Rae El Moussa, Arthur Aslanian Organizations: HGTV, Service, Hollywood, El Moussa's, Los Angeles Tenants Union, NBC, North Hollywood Arts District, Real Locations: North Hollywood, Wall, Silicon, NBC Los Angeles, Instagram

☆ The price of a typical starter home fell in San Francisco, Austin, and Phoenix, bucking a national trend — here's why
▼ + stars: | 2023-08-03 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

The cost of starter homes has grown in every US metro but three since last year, Redfin said. San Francisco, Austin, and Phoenix starter home prices declined by 13.3%, 12.2%, and 9.7%, respectively. That doesn't mean that these starter homes are cheap, or the incomes needed to afford them are minuscule. Similar to Austin and San Francisco, Bokhari chops it up to the ebb and flow of supply and demand. While starter home prices decreased in San Francisco, Austin, and Phoenix, Redfin found that the typical starter home sold for a record $243,000 in June.

Persons: Redfin, they're, Sheharyar, Bokhari, Manus Clancy, Austin, Tesla Organizations: Phoenix, Service, Apple, Google, Oracle Locations: San Francisco, Austin, Wall, Silicon, Phoenix, Francisco, homebuyers, Redfin

☆ Single-family home construction has bottomed in current macro environment: Builders FirstSource CEO
▼ + stars: | 2023-08-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSingle-family home construction has bottomed in current macro environment: Builders FirstSource CEOBuilders FirstSource CEO Dave Rush joins 'Squawk on the Street' to discuss what Rush anticipates for housing demand, what more affordable homes mean for Rush's company, and the labor challenges Builders FirstSource is dealing with.

Persons: Dave Rush, Rush Organizations: Builders FirstSource, Builders

☆ You need to make at least $64,500 a year to afford your first home, says Redfin
▼ + stars: | 2023-08-02 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Buying your first home has become even less affordable, Redfin said. Buyers now need to make at least $64,500 a year to afford a starter home, up 13% in 12 months. Many on lower budgets can no longer stretch to even the most affordable homes, per Redfin. The real estate brokerage revealed first-time buyers must make about $64,500 a year to afford a starter home – 13% more than a year ago. "The most affordable homes for sale are no longer affordable to people with lower budgets due to the combination of rising prices and rising rates.

Persons: Redfin, Buyers, Sheharyar Bokhari Organizations: Service, Federal Reserve Locations: Wall, Silicon, New York, Chicago, Atlanta, San Francisco, Austin, Phoenix

☆ Is Ohio really that great of a place for first-time homebuyers?
▼ + stars: | 2023-08-02 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

Are you a first-time homebuyer who recently moved to Ohio? Some may be found in Ohio, according to data from the National Association of Realtors and Realtor.com. In Youngstown, buyers earning at least $75,000 can afford to purchase 72% of listings, while those in Akron and Toledo can afford to buy 61%. It begs the question: Is Ohio really that great of a place for first-time homebuyers? We want to hear from current Ohio residents who are first-time homebuyers or recently relocated to or within the state.

Persons: homebuyer, Toledo —, Ian Beniston, Beniston, it's, Eric Cooper, he's, Cooper, Sellers, Alcynna Lloyd Organizations: Service, National Association of Realtors, Realtor.com, Ohio —, Youngstown Neighborhood Development Corporation, Columbus —, Coldwell Banker, Bureau, alloyd Locations: Akron, Toledo, Youngstown, homebuying, Ohio, Wall, Silicon, There's, Ohio — Youngstown , Akron

☆ Soaring home prices mean first-time buyers need to be making 13% more money than a year ago to afford a 'starter' home
▼ + stars: | 2023-07-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

A first-time homebuyer needs to earn 13% more money to afford a starter home, per a Redfin analysis. The average starter home cost $243,000 in June, sending the income needed to afford it to $64,500 per year. "The most affordable homes for sale are no longer affordable to people with lower budgets" due to rising prices and rates. The average starter home cost $243,000 in June, up 2% from the average price last year and up 45% from before the pandemic. Experts say affordability won't improve until mortgage rates pull back more significantly, though that's unlikely to happen anytime soon.

Persons: Sheharyar Bokhari, Redfin, That's, Freddie Mac Organizations: Service Locations: Wall, Silicon

Five hedge funds shared five trading ideas on global property markets, adding that they cannot reveal trading positions for regulatory reasons. CM REITs are companies that own mortgages of multi-family residential homes as well as commercial real estate loans. Cell phone data Litt bought to research a REIT run by Alexandria Real Estate Equities (ARE.N), showed that buildings which that were supposed to be almost fully occupied were only half full. Alexandria Real Estate responded pointing to public filings which said that it was the advancement of science and related intellectual property in Alexandria’s Labspace buildings, and not employee foot traffic that drove its demand for space. But Litt believes that the shift away from office working will also hurt life and sciences real estate, generally.

Persons: Jonathan Mizrachi, CMBSs, David Amaryan, Ben Hunsaker, Hunsaker, Jonathan Litt, Litt, ANSON, Moez Kassam, Vistry, Kassam, Nell Mackenzie, Dhara Ranasinghe, Alison Williams Organizations: Property, Capital, Beach, Beach Point Capital Management, REITs, Alexandria Real, Reuters, Vistry, Thomson Locations: York, Russia, Russia's, Ukraine, Armenia, Beach Point, Alexandria, Alexandria’s, London, Carolina, New York

☆ Vistry flags tough housing market, reiterates profit forecast
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

July 20 (Reuters) - British homebuilder Vistry Group (VTYV.L) on Thursday joined its bigger rivals in flagging an intensifying slowdown in the housing market but retained its annual profit forecast, reflecting resilience in its key affordable homes business. The FTSE 250 (.FTMC) firm, which works with local authorities and housing associations to build affordable homes, expects adjusted pre-tax profit for the year ending Dec. 31 to be in excess of 450 million pounds. Vistry, which is typically better insulated against housing market shocks as demand for affordable housing is high, said it was able to mitigate the slowdown in the market through bulk transactions in both its Partnerships and Housebuilding businesses. However, the group said its Housebuilding business, which is similar to its rivals' operations, had faced "more challenging market conditions" in the half-year period with the broader macro-economic challenges particularly impacting first-time buyers. Reporting by Suban Abdulla in London and Aby Jose Koilparambil in Bengaluru; Editing by Sonia Cheema and Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

Persons: Greg Fitzgerald, Suban Abdulla, Aby Jose Koilparambil, Sonia Cheema, Kate Holton Organizations: Vistry, Thursday, FTSE, Bank of England, British, Countryside, Thomson Locations: British, London, Bengaluru

☆ Commonwealth Games 2026 host Victoria, Australia pulls out over cost
▼ + stars: | 2023-07-17 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +3 min

Brisbane, Australia CNN —The Australian state of Victoria has canceled plans to host the 2026 Commonwealth Games after the predicted cost of the international sporting event blew out three times original estimates, state authorities said Tuesday. That is all cost and no benefit.”The Commonwealth Games is a multi-sport event involving thousands of athletes representing 72 Commonwealth countries and territories, held every four years. In a statement Tuesday, the Commonwealth Games Federation said the decision was “hugely disappointing for the Commonwealth Sport Movement,” and suggested that Victorian authorities hadn’t previously raised cost concerns. John Sibley/Reuters/FILEThe Federation said decisions the state had made concerning sports and venues had “added considerable expense, often against the advice of the Commonwealth Games Federation (CGF) and Commonwealth Games Australia (CGA).”The Federation said it was “taking advice on the options available” and remained committed to finding a solution so the Games could go ahead. Instead of hosting the Games, Victoria will build at least 1,300 affordable homes and the permanent sporting facilities it had promised in an effort to boost regional tourism and events, Andrews said.

Persons: Premier Daniel Andrews, “ I’ve, ”, Victoria, hadn’t, Vanessa Amorosi, John Sibley, “, Andrews Organizations: Australia CNN, Premier, Commonwealth, Games, Commonwealth Games Federation, Commonwealth Sport Movement, Government, Commonwealth Games Australia, Geelong Locations: Brisbane, Australia, Victoria, Melbourne, Birmingham, England, Bendigo, Ballarat, Gippsland, Shepparton

☆ The US is short on homes. Here’s how builders are still offering the American Dream
▼ + stars: | 2023-07-14 | by ( Anna Bahney | ) edition.cnn.com time to read: +8 min

This relatively new and growing segment of the housing market is called “build for rent” or BFR (or “build to rent” or BTR). Often constructed in suburban areas with low crime and near good schools, BFR homes attract those who want the lifestyle of a house — but the affordability or convenience of renting. Over the past few years, however, large investment groups — like Home Partners of America or Invitation Homes — have got into buying up existing single-family homes to rent. Miller said demand for BFR homes is strong and suit a modern way of living involving remote work, lifestyle moves and delayed homeownership. Even as a small portion of the market, those BFR homes that are being built are not the smaller, more affordable homes that middle-income earners are looking for.

Persons: ”, David Howard, Howard, “, Ben Miller, ” Miller, Miller, Donald Trump’s, homeownership, Bruce McNeilage, ” McNeilage Organizations: DC CNN, National Rental Home, National Rental Home Council, Urban Institute, Home Partners of America, Research, Joint Center for Housing Studies, Harvard University, Kinloch Partners, Survey Locations: Washington, Texas , California , Arizona, Florida, North Carolina, Georgia, BFR, United States, Nashville, Greenville , South Carolina, Yardi

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