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☆ Wall Street and money moved into South Florida, driving up prices. Now some residents want to move out.
▼ + stars: | 2023-10-22 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +10 min

They're looking to nearby smaller cities in South Carolina, North Carolina, Georgia, and Tennessee. They're picking places like Knoxville, Tennessee; Greenville, South Carolina; Huntsville, Alabama; and Asheville, North Carolina; which she collectively refers to as "the Villes." AdvertisementAdvertisementWhy CEOs moved their lives — and their businesses — to FloridaWall Street moved to South Florida in droves in 2020 and 2021. Billionaire hedge-fund CEOs — like Citadel's Ken Griffin — paid record-shattering amounts for South Florida homes , added offices, and moved their businesses there entirely from New York, Chicago, and Silicon Valley. They bought a 2,400-square-foot, four-bedroom home on an acre of land for the same price in Greenville, South Carolina.

Persons: —, There's, Nicole Panesso, Holly Meyer Lucas, Meyer Lucas, Ken Griffin —, Brian Guzman, Guzman, Jonathan Miller, Ken Griffin, PATRICK T, FALLON, It's, Larry Ellison, Miller, Michael Bordenaro, Greg May, Marcia Straub, Keller Williams, Jill Cody, she's, Ryan Wilson, Jami, Alexander Spatari, Jami Wilson Organizations: Service, Sunshine State, Census Bureau, Orlando, Coral, Fort Myers, Florida Wall, Billionaire, Guzman Advisory Partners, Getty, West Palm Beach, Florida Atlantic University, Silicon, Oracle, South, South Florida metros, Fortune, Miami, Homes, Army Locations: Florida, Greenville, Knoxville, South Florida, Chattanooga , Tennessee, South Carolina, North Carolina , Georgia, Tennessee, Knoxville , Tennessee, Greenville , South Carolina, Huntsville , Alabama, Asheville , North Carolina, Realtor.com, Asheville, Miami, Gulf Coast, New York, Chicago, Silicon, West Palm, Fort Lauderdale, Palm Beach, Texas, North Carolina, Greensboro, Fort

☆ Poverty is rising faster in American suburbs as lower-income people are pushed out of big cities
▼ + stars: | 2023-10-19 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

The rate of suburban poverty rose three times faster than urban poverty between 2019 and 2022. The skyrocketing cost of housing in major cities is one factor pushing lower-income people out of cities. But the pandemic has accelerated the trend of suburban poverty rising at a faster rate than urban poverty, according to new US Census data. While the rate of poverty is rising faster in suburbs than in cities overall, cities still have a higher per capita poverty rate on average. In 2022, 9.6% of suburban dwellers lived in poverty, while 16.2% of residents of major cities were poor, Brookings noted.

Persons: —, Louis, Saint Paul, Brookings Organizations: Service, American, Survey, Brookings Institution, Brookings Locations: South, West, Midwest, Suburban, Washington, DC, Houston, San Francisco, Ogden , Utah, St, Minneapolis, Saint

☆ He visited every country in the world — without flying. Here's how much it cost
▼ + stars: | 2023-10-19 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +5 min

Danish traveler Torbjorn Pedersen says he is the first person to visit every country in the world — without flying. The best and worst timesPedersen had planned to stay in Hong Kong for about a week when he arrived in January 2020. Pedersen spent the most time in Hong Kong, staying 772 days because of the Covid -19 pandemic. "I feel more at home in Hong Kong than I do in Copenhagen, " he said. Torbjorn Pedersen

Persons: Torbjorn Pedersen, Pedersen, Ross, Selena Wright, I've, Torbjorn Pedersen Pedersen, it’s Organizations: CNBC, Ross Energy, United Nations Locations: Singapore, Bolivia, Hong Kong, Vatican City, Copenhagen, Cameroon, Congo, Denmark, Eritrea, Ethiopia, Solomon

☆ 5 Southern cities where houses are shrinking
▼ + stars: | 2023-10-11 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +1 min

The typical home for sale in the South is smaller than it was pre-pandemic. Builders are constructing smaller homes and many homes for sale are in denser places, like cities. AdvertisementAdvertisementMore smaller homes are on the market in the South than pre-pandemic, Danielle Hale, Realtor.com's chief economist, told Insider. It's driven the median listing price of homes up 35.7%. Below, five cities in the South where homes have gotten smaller as they've gotten more expensive since the start of the pandemic.

Persons: —, Danielle Hale, It's, Hale Organizations: Service

☆ 'We like to develop in Texas': Why the Lone Star State keeps building offices that remain vacant
▼ + stars: | 2023-10-10 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +4 min

Texas developers continue to build offices, even though office-vacancy rates are high. That's because Texas developers build too much. Even with those numbers, Eckert told the Journal that new office completions in Texas eclipsed every other market. Part of that cleansing is converting office buildings into something new , giving them a chance at a new lease on life. Overall, Eckert isn't worried about the office vacancies in Texas, as that is just one data point that doesn't tell the whole story.

Persons: —, Manny Garcia, Thomas LaSalvia, Jeff Eckert, JLL's, Houston —, Brandon Bell, Houston's, Eckert, JLL, Eckert isn't, it's Organizations: Service, Lone Star State, Wall Street, Moody's, Texas —, Houston Locations: Texas, California . Texas, Texas — Austin, Dallas, Austin , Texas, Springs, Dallas , Texas

☆ The 11 major U.S. cities where home prices have risen the most—No. 1 isn't New York or San Francisco
▼ + stars: | 2023-10-10 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Home prices continue to increase in most major U.S. cities, even as rising mortgage costs have discouraged buyers, a Realtor.com report finds. The price gains are most felt in Greater Los Angeles, where home prices increased 23.8% over the 12 months ending in September 2023, according to Realtor.com data released Thursday. California has a longstanding housing shortage — perhaps the worst in the country — so home price growth in L.A. and San Diego isn't overly surprising, especially considering price gains in recent years. Median home prices in L.A. and San Diego have increased by 38% and 48% since January 2020, respectively, based on Realtor.com's active listings data. As for some smaller markets with big price gains — such as Richmond, Cincinnati, Columbus and Rochester — the "commonality is that they're relatively affordable, so demand remains relatively high," says Hale.

Persons: Danielle Hale, Diego isn't, Hale Organizations: Richmond, Boston, Pittsburgh, CNBC, Diego, Homes Locations: U.S, Greater Los Angeles, San Antonio, Los Angeles, Diego, Cincinnati , Ohio, Providence , Rhode Island, Massachusetts, Columbus , Ohio, Rochester , New York, Chicago, Indianapolis, Realtor.com . California, L.A, San Diego, Richmond, Cincinnati, Columbus, Rochester

☆ 4 cities in the South where home prices are falling
▼ + stars: | 2023-10-07 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +2 min

In four southern metros home prices fell over 1% in September, per Realtor.com. Houston, Memphis, Raleigh, and San Antonio had experienced high home prices as people moved there. Those locations have more homes for sale than in other places, so buyers have more power. AdvertisementAdvertisementFour of the 50 largest metro areas had a drop in home prices last month, compared to September 2022. For example, in San Antonio, where prices dropped most of the four cities, the inventory of homes for sale in September grew 24% compared to a year earlier.

Persons: San Antonio, —, Evan Wyloge, Danielle Hale, there's Organizations: metros, Service, Houston Public Media Locations: Houston, Memphis, Raleigh, San, Houston , Memphis, San Antonio

☆ These are the 10 best cities for apartment dwellers as mortgage rates stay oppressively high — and the 3 housing markets where buying a home is actually cheaper than renting
▼ + stars: | 2023-09-30 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Lower rent prices and multi-decade-high mortgage rates mean that it's smarter to rent than buy in most large US cities right now, according to Realtor.com. Disparities between buying and renting stemmed from a split in how median costs changed in the last 12 months. "The advantage of renting became more pronounced in all rent-favoring markets," Xu and Hale wrote. But there were three cities where buying was actually cheaper than renting in August, according to Realtor.com: Memphis, Tennessee; Pittsburgh, Pennsylvania; and Birmingham, Alabama. Below are the 10 metro areas where renting makes more sense than buying right now, along with the median rent, the median monthly cost of buying and how it compares to renting, and the year-over-year changes for renting and buying.

Persons: Jiayi Xu, Danielle Hale, Xu, Hale, Realtor.com, Freddie Mac Locations: Realtor.com, Memphis , Tennessee, Pittsburgh , Pennsylvania, Birmingham , Alabama

☆ 10 cities where home prices are rising the most, as buyers turn to satellite cities for affordability
▼ + stars: | 2023-09-28 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +2 min

Prices are rising in satellite cities like Trenton, New Jersey, and Fort Wayne, Indiana. Homebuyers are departing larger metros for satellite cities in search of affordability — but as demand increases, so do the home prices that attracted them. Evan Wyloge, a data journalist with Realtor.com, suspects these satellite cities are bringing in new residents as culture around office work changes. Here are the 10 cities where home prices increased the most between August 2022 and August 2023, according to Realtor.com. And don't forget to peek at the list of cities where home prices are falling the most, too.

Persons: —, Evan Wyloge, Realtor.com, Wyloge Organizations: Service, metros, US Census Bureau, Boston Locations: Trenton , New Jersey, Fort Wayne , Indiana, Philadelphia, Indianapolis, Manchester , New Hampshire, Boston

☆ This Southern city is the No. 1 place to start your own business
▼ + stars: | 2023-09-24 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

The home of mega-corporations like Coca Cola and Delta Airlines is also the best place to start your own business, according to new LinkedIn data. 1 U.S. metro area with the fastest year-over-year growth, 92%, in people founding their own companies, per the job search site. 1 place for young professionals to start a career, according to a report from Wallethub, based on metrics like availability of jobs, average starting salary, unemployment rate, median annual income, housing affordability and family-friendliness. Elsewhere in the country, the only representative for Silicon Valley — San Francisco — comes in at No. "Though the San Francisco Bay Areas remains one of the world's leading places for tech startups, it's possible or perhaps likely that smaller 'Main Street' businesses aren't opening at a nation-leading pace," Anders says.

Persons: Austin, George Anders, LinkedIn's, Anders, San Francisco —, that's, Donna Kelley Organizations: Coca, Delta Airlines, Fox, Seattle, metros, LinkedIn, Atlanta, Atlanta Austin , Texas Seattle San, Atlanta Austin , Texas Seattle San Francisco Chicago Boston, Fort Lauderdale, Fort Lauderdale New York City Los Angeles Denver, San, Global Entrepreneurship Monitor, The Washington Post . Entrepreneurship, Babson College, Washington Post, CNBC Locations: Coca Cola, Atlanta, U.S, Wallethub, pricey, San Francisco and New York, Atlanta Austin , Texas, Atlanta Austin , Texas Seattle San Francisco, Atlanta Austin , Texas Seattle San Francisco Chicago Boston Miami, Fort Lauderdale New York, Fort Lauderdale New York City Los Angeles Denver Atlanta, Austin, Silicon, San Francisco, San Francisco Bay, New York City, Los Angeles, Chicago, Miami, United States, Montana

☆ The 21 cities where Gen Z homebuyers are moving in next door
▼ + stars: | 2023-09-21 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +2 min

Gen Z accounts for 18% of homebuyers from April to July this year, Zillow said. In 21 metros, Gen Zers make up at least 20% of homebuyers. These places are "punching a little bit above their weight" with first-time homebuyers, Zillow said. But that hasn't deterred Gen Z from buying homes. Here are the places that have the highest share of Gen Z homebuyers.

Persons: Zillow, Gen Zers, Gen, Z, homebuyers, Manny Garcia, Zillow's, Aidan Dobbins, Zer, millennials Organizations: Service, Baltimore, Bureau of Labor Statistics Locations: homebuyers, Wall, Silicon, Midwest, New York

☆ 'Thrown to the wolves': How private investors are jacking up rents and ripping off college students
▼ + stars: | 2023-09-20 | by ( James Rodriguez | ) www.businessinsider.com time to read: +19 min

The eye-popping numbers are part of a longer-term shift toward private college housing. Moody's Analytics recently warned of an "affordability crisis" for college students, noting that since 2019, rents for student housing in a sample of notable college towns had grown faster than those of regular apartments. Student housing goes privateThe gold rush in student housing is a relatively new phenomenon. Back in the 1980s and '90s, most college students either lived in bland, cinder-block-walled dorms or in conventional apartments farther from campus. Even with his frugality, he came to realize that the prices in West Campus were "impossible to rationalize" for a college student.

Persons: behemoth Blackstone, Evan Scope, UT Austin who's, Carl Whitaker, Austin Kristian Alveo, Whitaker, Mark Austin, Kristian Alveo, David Willson, Willson, Gina Cowart, Cowart, David Kanne, lounging, Ann, Kanne, Lu Chen, RealPage, Donald Cohen, Cohen, Graham Sowden, Dan Allen, Allen, Austin, James Rodriguez Organizations: Waterloo, University of Texas, Wall Street's, American, Communities, National, Housing, Evan Scope Crafts, UT Austin, University, UT, LV, UTs, Crafts, American Campus, HBO, West, haven't, State College ,, Moody's, Power, Middlebury College, University of Tennessee, Arizona State University, Urban Institute, Investors, Power Five, RREAF Holdings Locations: Austin, Wall, Waterloo, UT Austin, Rio, Villas, West, West Campus, Gainesville , Florida, Ann Arbor , Michigan, State College , Pennsylvania, Knoxville, South

☆ The housing market is brutal. These 6 charts show just how bad things are for buyers.
▼ + stars: | 2023-09-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Record-high monthly mortgage payments and low home inventory have made the housing market historically unaffordable. Below are 6 charts illustrate how difficult the current housing market is for buyers. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyAdvertisementAdvertisementThe housing market has never before been this unaffordable for Americans. These six charts from real estate group Redfin show just how brutal it is for people navigating the current market. AdvertisementAdvertisementSeparate National Association of Realtors' data published last month showed that home prices saw a record increase in over half of the US housing market over the past quarter.

Persons: it's Organizations: Service, Federal Reserve, Redfin, metros, Association of Realtors Locations: Wall, Silicon, San Jose, Milwaukee, Atlanta, Las Vegas, Newark , NJ, Seattle, San Antonio ,, San Jose ,

☆ Affordable Housing Crisis in US West: Why It's Hard to Build New Homes
▼ + stars: | 2023-09-13 | by ( Kyle Paoletta | ) www.businessinsider.com time to read: +15 min

The solution to keep prices under control seems fairly simple: Just build more housing. For a time, sprawl boosted housing supply and accommodated newcomers to the West: Nearly 60 million more people live in the region now compared with the 1950s. Running out of landWhen the economy crashed in 2008, housing construction screeched to a halt. All this red tape has caused a serious slowdown in much-needed housing construction. Build, build, buildDespite the unique challenges of building in the paradoxically wide-open West, some cities have been able to break through.

Persons: Mike Segrest, Megan Lawson, Kyle Stevens, Carrier Johnson, “, Lawson, Land Management . Nevada Sen, Catherine Cortez Masto, Kyle Roerink, Hillary Schieve, Schieve, Howard Blackson, Kyle Paoletta's Organizations: Forest Service, Southern Ute, Marin Headlands, Bureau, Land Management ., Water Network, Biggest, Biggest Little City, Housing Administration, Harper's Magazine, New York Magazine, Oasis Locations: Colorado, Durango ., it's, Animas, San Juan Mountains, Durango, Las Vegas, Montana, Houston, Minneapolis, Rocky, Phoenix, Denver, Mississippi, San Diego, San Jose , California, Marin County, San Francisco, Santa Fe , New Mexico, Jackson , Wyoming, California, Land Management . Nevada, Vegas, Reno , Nevada, Reno, Cumulatively, Biggest Little, Summit, Washington

☆ Opinion | A Hidden Reason Cities Fall Apart
▼ + stars: | 2023-09-13 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +3 min

And this has been a self-perpetuating process in which the fortunate metros have gained the most while many places are left behind. This used to happen all the time in Detroit, Cleveland, St. Louis, the Twin Cities, etc.”These locally based firms. Atkinson continued, “played an important role of helping the various municipalities in a region work more closely together. The only way to grow their banks or electric utilities was to grow the community where they were based. Their job is to sit on local boards and dabble in community relations, but they don’t really call the shots anymore.

Persons: Mark Muro, Muro, Robert D, Atkinson, Louis, “, ” Aaron M, Renn, Frank A Organizations: Brookings, ’, metros, Information Technology, Innovation Foundation, Twin, American, “ Civic, Baltimore News American, Maryland Locations: Detroit , Cleveland, St, Twin Cities, Banks, Dallas

☆ The housing market is stuck: Americans can't afford homes, investors aren't buying property, and economists see little relief ahead
▼ + stars: | 2023-09-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Low inventory, high mortgage rates, and high prices have created a difficult housing market. Low inventory, high mortgage rates, and high prices have put the housing market into a state of unaffordability that's weighing on house hunters, current homeowners, and even real estate investors. AdvertisementAdvertisementAs things stand, roughly one-quarter of homeowners are sitting on mortgage rates of less than 3%, near the highest on record. The seasonally-adjusted data showed prices climbed in every single city in the group's 20-city index. Otherwise said, half the cities in our sample now sit at all-time high prices."

Persons: we've, Craig J, Lazzara, DJI, Daryl Fairweather, haven't, Shay Stein, Realtor.com, Fannie Mae, Bill McBride Organizations: Homeowners, Service Locations: Wall, Silicon, Realtor.com

☆ Labor Day weekend forecast: Sizzling heat to impact two-thirds of US
▼ + stars: | 2023-09-01 | by ( Mary Gilbert | ) edition.cnn.com time to read: +4 min

CNN —Labor Day weekend may mark the unofficial end to summer for many, but Mother Nature didn’t get the memo this year. July-like heat sends temperatures skyrocketingTemperatures 10 to 20 degrees above normal levels for September could break or tie close dozens of records as heat builds over Labor Day weekend and into Tuesday. By Sunday, sweltering heat will expand across much of the Great Lakes, Ohio Valley and even portions of the mid-Atlantic. On Labor Day Monday, conditions will feel more like July across nearly two-thirds of the US. Places like Los Angeles and San Francisco may have the best weather in the country for Labor Day weekend.

Persons: Nature didn’t, Idalia Organizations: CNN, Labor, Miami, Orlando, National Weather Service, Hurricane Franklin, Southwest, Rockies, Weather, Idaho and Locations: United States, Upper, Omaha , Nebraska, Sioux Falls , South Dakota, Lakes, Ohio Valley, Atlantic . Minneapolis, Philadelphia, East Coast, Chicago , Washington, New York City, Gulf Coast, Texas, Florida, Houston , New Orleans, Tampa, Alabama, South Carolina, New Jersey, New York, Arizona , Nevada, Utah, Idaho, Idaho and Wyoming, Northwest, California, Seattle, Portland, Portland –, Los Angeles, San Francisco

☆ 'Where ambition goes to die': These tech workers flocked to Austin during the pandemic. Now they're desperate to get out.
▼ + stars: | 2023-08-31 | by ( Ben Bergman | Jordan Pandy | ) www.businessinsider.com time to read: +11 min

Many tech workers in California moved to Austin during the pandemic in search of a new lifestyle. Some tech workers say they regret moving there, given its middling tech scene and "fake" atmosphere. They cited several contributing factors, including extreme temperatures, traffic, overcrowding, and — perhaps most surprising — a middling tech scene that fails to live up to the hype. From Silicon Valley to the Silicon HillsNot long ago, Austin's tech scene was ascendant, with national headlines suggesting it could take on Silicon Valley. He acknowledged there's not much of a tech scene there but will take that over what he perceived as Austin's smoke and mirrors.

Persons: Austin, Mike Chang, Chang, Tesla, Danielle Fountain, Fountain, Elon Musk, Jim Breyer, Joe Lonsdale, Bill Gurley, Musk, Gurley, Emily Chang, John Andrew Entwistle, who's, John Andrew Entwistle Entwistle, Entwistle, oversold, Nicholas Falldine, there's, Nick Thomas, Austin doesn't, Thomas, he's, Sam Parr, I'm, Sheharyar, Redfin, Bokhari, It's, frolic Organizations: Oracle, Facebook, Google, Apple, Breyer Capital, Austin Chamber, Austin, Lone Star, US Postal Service Locations: California, Austin, Los Angeles, Bay, Silicon, Silicon Valley, Austin's, Palo Alto, Westchester County , New York, Fayetteville , Arkansas, Austin , Texas, San Francisco

☆ Opinion | Reviving America’s Fading Cities Isn’t Impossible
▼ + stars: | 2023-08-30 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

Here is a list of the biggest U.S. cities by population in 1900: New York, Chicago, Philadelphia, St. Louis, Boston, Baltimore, Cleveland, Buffalo, San Francisco and Cincinnati. Some of those cities have continued to thrive, but others have faded. This year Baltimore is the 30th biggest city, Cleveland 54th, St. Louis 75th and Buffalo 79th. Is the shrinkage of some American cities, towns and villages an inevitable consequence of economic change or something to be vigorously resisted? Surprisingly, even in the era of Zoom, Slack and other collaboration tools, people on the leading edge of new technologies still end up working in the same few big, crowded, expensive metro areas.

Persons: Louis 75th, Biden, hasn’t, appropriators, ”, Slack, Brookings Organizations: Buffalo, National Science Foundation, Brookings Locations: New York, Chicago, Philadelphia, St, Louis, Boston, Baltimore, Cleveland, Buffalo, San Francisco, Cincinnati, San Jose , New York, Los Angeles, Seattle

☆ Your next apartment could be someone's old cubicle as developers rush to convert empty offices
▼ + stars: | 2023-08-27 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

The mayor of New York City aims to turn old office buildings into 20,000 new apartments. The Manhattan-based architect John Cetra, who has worked on office conversions since the 1980s, calls it "the amenity war." His firm, CetraRuddy, recently announced it's leading the conversion of a 30-story office building, formerly home to Goldman Sachs, in Manhattan's financial district. Adams' goal is to create up to 20,000 new homes for 40,000 New Yorkers in converted office buildings over the next decade. AdvertisementAdvertisementNew York City has already had some success in converting office buildings to homes.

Persons: you'll, they've, everyone's, Steven Paynter, we've, John Cetra, it's, Goldman Sachs, Cetra, Eric Adams, Paynter, He's, who's, Adams, We've, Dan Garodnick, Mark Hogan, Hogan, Charles Bloszies, I've, that's, Bloszies, Garodnick, Arpit Gupta Organizations: Service, CetraRuddy, York, US Department of Housing, Urban Development, Yorkers, New York City's Department of City Planning, San Francisco, Supervisors, New York Stock Exchange, NYU Stern School of Business, Research Locations: New York City, Wall, Silicon, York, San Francisco, Manhattan, Toronto, Calgary , Alberta, York City, Francisco, New York

☆ Middle class Americans are moving straight into fire and drought because they can't afford to live in the cities that are safer from climate change
▼ + stars: | 2023-08-15 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Rising housing costs have helped push Americans into parts of the country more vulnerable to climate change. The trend shows how the burden of climate change is falling disproportionately on less affluent people. Rather than leaving areas at high risk of natural disasters and other climate issues, more Americans are moving into them. But if lower-risk cities continue to price people out, the burden of climate change will fall even more disproportionately on less affluent communities. A recent Brookings Institution report recommended several ways that policymakers can encourage Americans to seek climate safety.

Persons: Hurricane Harvey, Freddie Mac, Rich, homebuyers, Jenny Schuetz, Julia Gill Organizations: Service, Brookings, Federal Housing Finance Agency Locations: New York, San Francisco, Southern, Florida, Houston, West, Bend , Oregon

☆ The 15 most affordable US cities to live in 2023
▼ + stars: | 2023-08-10 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +2 min

Personal-finance company Kiplinger has ranked the cheapest US cities to live in this year. It considered factors like cost of living, unemployment rates, and home values in 267 urban areas. Personal-finance company Kiplinger identified America's cheapest cities as of April 2023. The study shows that many of the most budget-friendly cities in America are found in the South, a region renowned for its advantageous income-to-cost ratio. Read on for the 15 cheapest cities in the US 2023 — maybe one will spark your interest.

Persons: Kiplinger, Craig Grove, Read Organizations: Kiplinger, Service, Council for Community, Economic Research, Realty Locations: Alabama, Texas, Harlingen , Texas, Wall, Silicon, America, Rio Grande Valley, Brownsville, Craig, Georgia, —, Michigan, Kansas

Luxury sellers across the country find themselves facing a perfect storm of rising interest rates, recession fears and population shifts in the wake of the Covid-19 pandemic. In many metros, homeowners appear to have pulled back on listing homes in light of the market shift.

☆ 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

☆ 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

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