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☆ Gen Z and millennials are propping up the economy — with help from their parents, 'Oracle of Wall Street' says
▼ + stars: | 2024-09-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAccording to a Harris poll from September 2023, about 45% of adults aged 18 to 29 were still living with their parents. However, the "Oracle of Wall Street" economist — so known for correctly predicting the 2008 crisis — did not foresee a recession, given that stronger cohorts would continue to power the economy. Aside from Gen Z and millennial consumers, top-earners are also helping keep the US economy afloat, Whitney noted. Those raking in over $150,000 are still active in the economy, though buying has shifted toward essentials over discretionary products.

Persons: —, Meredith Whitney —, Harris, Whitney, McDonald's, Gen Z Organizations: Service, Financial Times, Business, Whitney, US Bureau of Labor Statistics, Dollar

☆ Home flipping and BRRRR are back: Interest rate cuts are set to fuel a resurgence in the real-estate investing strategies, says BiggerPockets' housing-market guru
▼ + stars: | 2024-08-04 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Read previewHome flipping and the BRRRR method have been in the doghouse among much of the real-estate investing community over the last couple of years. As the Federal Reserve jacked up interest rates and home prices cooled off, warnings about the viability of these strategies abounded. But now, the popular strategies are due for a resurgence, according to Dave Meyer, BiggerPockets' housing market expert. Related storiesOne piece of evidence for this is that home flipping profits have generally been on the rise since the start of 2023 and jumped significantly in Q1 2024, according to real-estate data firm ATTOM. Further, he argues, the housing market is not as volatile as the stock market, and it's rare to see forced selling on a grand scale, he said.

Persons: —, Dave Meyer, BiggerPockets, Meyer, he's bullish, there's, it's, Skylar Olsen, she's Organizations: Service, Federal Reserve, Business, ATTOM, Labor

Market trends and data analysisTo get a better idea of whether you should sell now, get familiar with your local housing market. The best time to sell a house depends on your local market, but generally speaking, you'll find the following are true. This would provide steady monthly income and allow you to wait to sell until market conditions improve. You should consider local market conditions, your financial and personal needs, and larger economic conditions before you sell your house. To determine the best time to sell your house, look at local market trends, economic forecasts, and seasonal patterns.

Persons: they're, you'll, it's, we'll Organizations: Data, National Association of Realtors, Chevron Locations: Chevron

☆ Wealthy buyers are flocking to Florida to rebuild mansions where modest homes were destroyed by hurricanes
▼ + stars: | 2023-11-01 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Rich buyers have the funds to rebuild mansions that are more likely to survive future storms. Fort Myers Beach, Florida, has seen an influx of new buyers following Hurricane Ian last year. The storm killed 21 people and washed away a third of the homes and businesses located on the skinny sand strip that makes up Fort Myers Beach, many of which were modest, middle-class homes. Candy Rahn, 69, told the outlet she and her husband were forced out of Fort Myers after Ian when her uninsured cottage was destroyed. The wealthy companies and people who swoop in to buy up empty lots in Fort Myers Beach are in some ways helping disaster survivors by padding their pockets with thousands of dollars.

Persons: Rich, Ian, —, Candy Rahn, Fort Myers, Rahn, Jesse Keenan Organizations: Bloomberg, Service, Fort Myers, Attom Data, University of Delaware's, Research, Tulane University Locations: Florida, Fort Myers Beach , Florida, Estero, Fort Myers Beach, Fort, Fort Myers, New Orleans

☆ Wall Street landlords are selling homes back to Main Street. Here's what it might mean for runaway housing prices.
▼ + stars: | 2023-08-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +8 min

The companies — Invitation Homes and AMH — have already sold 1003 homes this year, through July, to non-corporate buyers, according to Insider's analysis of data from real estate tracker Attom Data. The group, which has included Wall Street firms like Blackstone (which spun off Invitation Homes), has been blamed for exacerbating the housing shortage that has pushed real-estate prices sky-high. One exception might be in 2019 when Invitation Homes sold 785 homes to non-corporate buyers, versus 225 sales through July of this year. The lack of housing supply, which has kept prices high even as mortgage rates rise, makes selling homes in markets that cost more to operate rentals a profitable play. In reporting earnings last week, Invitation Homes increased its core revenue guidance for the rest half of the year because its rent prices actually outperformed expectations.

Persons: —, AMH, Jon Olsen, execs, Dallas Tanner, Tanner, Gary Beasley, Roofstock, Beasley, He's, Dave Singelyn, Singelyn Organizations: Attom, Wall, Blackstone, Invitation Homes, SFR, Invitation, MLS, Homes, Sun, Wall Street, Homeowners, Seller Services Locations: SFR, New York City, America

☆ These 10 states are running America's best economies for residents
▼ + stars: | 2023-07-13 | by ( Scott Cohn | ) www.cnbc.com time to read: +8 min

To determine which states have the best economy, we look at overall economic growth and annual job growth on a percentage basis, as well as the health of state finances. We measure the breadth of each state's economy by looking at how many major corporations are headquartered there. IndianaWhile the Hoosier State's economy is hardly a barnburner, Indiana offers stability. The state's debt rating is solid. UtahThe Beehive State's economy just keeps buzzing.

Persons: Christina, Dupont De Nemours, Incyte Carlos Hernandez, Eileen T, Meslar, Eli Lilly, Kyle Green, Lucas Jackson, George Frey, Zions, Tim Aeppel, —, Justin Sullivan, Lindsey Nicholson, Matthew Busch, payrolls, Jim Watson Organizations: Companies, Business, Getty, Bureau, AAA, Reuters, Indiana, Hoosier, Federal Housing Finance Agency, National Association of Realtors, Simon Property, Bloomberg, Gem, Data Solutions, Micron Technology, Lamb Weston Holdings, South, South Carolina, Union Pacific, Automotive Designs, . Tennessee The Volunteer State, Headquarters, FedEx, Tractor, Delta Airlines, Peach State, Assurant, Intercontinental Exchange, Universal, North, Bank of America, Duke Energy, Just Energy Group, Texas, Lone Star State, Oracle, Tesla, AFP Locations: U.S, States, Wilmington , Delaware, Delaware, Middlebury , Indiana, , Indiana, CBH, Calvary Springs, Nampa , Idaho, Idaho, California, York County , South Carolina, South Carolina, Palmetto, South, Salt Lake City , Utah, Utah, Bristol , Indiana, Tennessee, Alpharetta , Georgia, Georgia, Denver , North Carolina, North Carolina, Houston , Texas, The Texas, Texas, New York, Miami , Florida, Florida

☆ With a world-class workforce and a booming economy, North Carolina repeats as America's Top State for Business in 2023
▼ + stars: | 2023-07-11 | by ( Scott Cohn | ) www.cnbc.com time to read: +6 min

North Carolina Gov. North Carolina ranks first in the all-important Workforce category of CNBC's study. Strong workers fuel GDP, solid state finances North Carolina's strong workforce helped feed its performance in other categories. "It's clear that the Republican legislature is aiming to choke the life out of public education," Cooper said on May 24. Abortion rights demonstrators gather to protest in Raleigh, North Carolina, after the Supreme Court's decision in the Dobbs v. Jackson Women's Health case, June 24, 2022.

Persons: Bosch, Roy Cooper, Joe Biden's, Melissa Sue Gerrits, Josh Wright, Charlotte, it's, You've, Wright, Cooper, Tricia Cotham, Cotham Organizations: State, Business, North Carolina, CNBC, North Carolina Gov, Getty, Apple, Triangle, Democrat, Raleigh, U.S . Labor Department, Commerce Department, Federal Housing Financing Agency, Census, ATTOM Data, Technology, Innovation, Capital, Republican, Republicans, General, Jackson, Anadolu Agency Locations: North Carolina, Lincolnton, Greensboro, Goldsboro, American, Durham, Wolfspeed, Durham , North Carolina, East Coast, America, Alaska, Massachusetts, North, Raleigh , North Carolina, Dobbs

☆ When Is The Best Time to Buy a House?
▼ + stars: | 2023-04-03 | by ( ) www.wsj.com time to read: +8 min

By Michele LernerAs with much else in real estate, the best time of year to buy a house depends on location, market conditions—and you. “But the best time of year to buy a house depends a lot on the type of buyer.”The spring housing marketTraditionally the housing market’s most active season, spring can be the “best” time of year to buy or the “worst” time of year to buy, depending on your perspective. Best time to buy for: Buyers who hope to move before the holidays or at least before the end of the year. Best time to buy for: Buyers and investors looking for a better deal. “Sometimes it’s the right time to buy a house when you’ve found ‘the one’ that feels right for your family and your circumstances,” Bloch says.

☆ Homebuyers, take note: 21 spots across the US where prices may fall
▼ + stars: | 2023-03-11 | by ( Aj Latrace | ) www.businessinsider.com time to read: +3 min

Real-estate data firm Attom evaluated which counties across the country are most vulnerable. Attom's researchers looked at a number of key indicators to determine the overall health of a region's real-estate market. Home prices that are out of reach for many locals suggests they are overly elevated. One is that the counties around major cities such as Chicago and New York are particularly vulnerable. Out of the 581 counties Attom analyzed, here's a look at the 21 counties that are most vulnerable to a decline.

☆ A housing downturn is causing a reckoning in the once-hot cluster of proptech startups that let homebuyers pay all cash and win bidding wars
▼ + stars: | 2023-03-09 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +9 min

In that market, all-cash offers were king to sellers because they ensured quicker, stress-free closings. According to Redfin, all-cash offers quadrupled the chances that a homebuyer would win a bidding war. Ribbon has since paused its all-cash offering, but some of the other firms that Insider featured last year are still making all-cash offers. FlyhomesFlyhomes is a real-estate brokerage that featured all-cash-offer services for years and distinguished itself in December 2021 with a free all-cash-offer product. "The value to the buyer is different than in a seller's market," Garg said in the email.

☆ The Phoenix housing bubble spectacularly popped in 2008. Countless signs point towards a similar struggle now. Here's how bad it really is.
▼ + stars: | 2023-02-05 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +9 min

Phoenix's housing market is quickly deteriorating as a pullback in demand triggers home price declines. And as Phoenix's housing market performs an about-face from the dramatic rise it had witnessed from spring 2020 through summer 2022, experts across the country are debating the possibility of the whole market imploding. And as of January 2023, area home sales are down 74% year-over-year, according to John Burns Real Estate Consulting. The Phoenix Valley — a sprawling desert metropolis that's home to nearly 5 million people — is no stranger to speculative real estate bubbles. Phoenix's housing market could be on track to normalizingDespite the numerous indicators of a weakening housing market, Phoenix may simply be facing a correction versus a crash, several experts told Insider.

☆ Nanny sharing, co-parenting, and the YMCA are helping parents meet their childcare needs as costs rise and shortages persist
▼ + stars: | 2023-01-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

They're turning to a variety of options to get by, including nanny sharing and co-parenting. Unable to find or afford childcare, many parents are exploring all their options on the table. While she told Insider this is meeting most of their childcare needs for now, it's costing them $1,000 to $1,500 per month. Some families have tried "nanny sharing" — when two or more families hire one nanny to watch their children at one of their homes and split the expense. "It seems that it eases the cost a bit," said Wilson-Demarco, who says she knows some families that have nanny shared.

☆ An Ohio real-estate investor who boasted about his home-flipping portfolio on TikTok is projecting a $30,000 loss on one deal — and issued a somber warning to anyone trying to best the housing market
▼ + stars: | 2022-11-20 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Austin Rutherford told his 700,000 followers he will likely take a loss on a recent flip in Ohio. Real estate investor Austin Rutherford, who has over 700,000 followers on TikTok, has talked at length about the opportunities for wealth in real estate investing since the start of the pandemic. But, in a recent video, he breaks down how his latest deal will likely result in a $30,000 loss. The iBuyer firm OpenDoor has been losing money on homes in pandemic real estate hotspots Austin, Atlanta, and Phoenix. Flippers see home values slidingA Pickerington, Ohio house that Rutherford predicts will take a loss in this tough market.

☆ More Americans Tap Home Equity for Financial Safety Net
▼ + stars: | 2022-11-16 | by ( Veronica Dagher | ) www.wsj.com time to read: 1 min

As high interest rates drive up the cost of borrowing money, more people are tapping the equity in their homes. Americans took out $66 billion in home-equity lines of credit, or HELOCs, in the second quarter, a 40% increase from a year ago and the largest amount in almost three years, according to data from real-estate analytics firm Attom Data Solutions. These accounts, which allow homeowners to borrow against the value of their house, are making a comeback as higher rates make it less favorable to refinance a mortgage.

☆ More Homeowners Using Helocs as Financial Safety Net
▼ + stars: | 2022-11-16 | by ( Veronica Dagher | ) www.wsj.com time to read: 1 min

As high interest rates drive up the cost of borrowing money, more people are tapping the equity in their homes. Americans took out $66 billion in home-equity lines of credit, or Helocs, in the second quarter, a 40% increase from a year ago and the largest amount in almost three years, according to data from real-estate analytics firm Attom Data Solutions. These accounts, which allow homeowners to borrow against the value of their house, are making a comeback as higher rates make it less favorable to refinance a mortgage.

☆ Multigenerational Hispanic households are under pressure as rates surge and homes remain costly
▼ + stars: | 2022-10-19 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Mortgage rates have also surged as the Federal Reserve tightens monetary policy to curb inflationary pressures not seen in about 40 years. Roughly a quarter of Asian, Black and Hispanic Americans each lived in multigenerational households in 2021, compared to 13% of those who are white. "Latinos are more likely to live in multigenerational households," said Gary Acosta, co-founder and CEO of the National Association of Hispanic Real Estate Professionals. "But being a larger multigenerational family comes with complications if you're trying to be a homeowner," he said. For the Espinoza family, the ideal home would have at least three bedrooms, a backyard and proximity to employment and schools in Santa Ana.

☆ The new American dream is buying a house with friends: 'It's a co-parenting model, it's a co-economy model, and it's a really great friendship and support model'
▼ + stars: | 2022-10-02 | by ( Juliana Kaplan | Alcynna Lloyd | ) www.businessinsider.com time to read: +8 min

"It's a co-parenting model, it's a co-economy model, and it's a really great friendship and support model," Pfefferkorn said. It's been "amazing and challenging," Pfefferkorn said, especially as both kids grew up, and one brought a grandchild into the home. "We're at a time now that our expectations for what success looks like is very different," Pfefferkorn said. For Pfefferkorn, the next dream is to buy an eight-bedroom house to turn into a communal retirement home someday. "My friend's mother is selling her house, and she has an eight bedroom house," Pfefferkorn said.

☆ The US cities where home values are most likely to plummet in a recession
▼ + stars: | 2022-09-16 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

The report — published on Wednesday — is based on data from nearly 600 counties in the US. Nine counties around New York City were included in the top 50 most vulnerable. ATTOM spokesperson says a recession seems 'more likely' than getting inflation under control. On Wednesday, real estate data company, ATTOM Data Solutions, published its Special Housing Risk Report for the second quarter of 2022. The report listed nearly 600 US counties vulnerable to value decline, based on "home affordability, underwater mortgages, foreclosures and unemployment," the report says.

Search resuls for: "ATTOM Data"

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