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The Latest Breaking News from Daryl Fairweather

AI is quietly splitting the housing market in two: Bay Area luxury homes are up 13%, affordable ones are collapsing

“It’s another sign of the K-shaped economy taking shape in the Bay Area,” said Redfin senior economist Yingqi Xu.

Fortune

Nearly three in five Americans think AI will push homeownership even further out of reach

Not only to Americans have to contend with increased home costs, but they now have to deal with the fear of losing their jobs thanks to AI.

Fortune

Politicians want to stop companies from buying homes. A ban wouldn’t bring down costs.

President Trump, who wants to stop profit-driven companies from buying residences in bulk, spotlighted the struggles of a Houston woman who was regularly outbid by firms on homes in the pandemic.

The Texas Tribune

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Mortgage Rates 'Could Fall' as Trump Plans to Buy $200 Billion in Bonds

Trump directs Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds. Experts warn that rate cuts of just 0.25 to 0.5 percentage points won't solve the housing affordability crisis.

International Business Times

Mortgage Rates 'Could Fall' as Trump Plans to Buy £200 Billion in Bonds

Trump directs Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds. Experts warn that rate cuts of just 0.25 to 0.5 percentage points won't solve the housing affordability crisis.

International Business Times UK

The 50-Year Mortgage: Completely Fine or a Total Flop?

Mortgage experts are divided on the wisdom of a 50-year mortgage. No one seems to think it's the key to making homeownership affordable.

Reason

Americans staying put: US home turnover rate at lowest level in decades as housing slump drags on

The number of U.S. homes that typically changes hands as people relocate for work, retire or trade-up for more living space hasn’t been this low in nearly 30 years

The Independent UK

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Why is the number of first-time US homebuyers at a generational low?

Young Americans are holding off on buying a home, with the average age in 2024 being a record high of 38

The Guardian - US

The three reasons home-insurance bills are only getting worse

High home insurance prices are the new normal, according to insurance analysts

The Independent UK

More renters think Harris is the better candidate on housing, survey finds

Close to half think Kamala Harris would be better for making housing more affordable and almost a third think Trump would be better, according to Redfin.

Fortune

Harris takes a populist tone on the economy. Will it help with young voters?

Polling shows young voters care about the cost of housing

The Independent UK

Why more people are buying homes in cash

Rich people are able to adapt to this pricey market much more easily than buyers with mortgages.

Axios

A Third of Young Americans Plan On Using 'Bank of Mom and Dad' for House Down Payments

Nearly half of Americans believe that they are unlikely to purchase a house anytime soon because of the ever-increasing costs.

International Business Times UK

Gov. Greg Abbott wants the Texas Legislature to rein in investors behind large-scale home purchases

So-called institutional homebuyers noticeably ramped up home purchases during the COVID-19 pandemic. But housing experts point out investors have retreated amid high interest rates.

The Texas Tribune

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Fortune

There’s a flicker of life in the housing market as average mortgage payments plummet nearly $400 over 2 months and buyers start to stir again, Redfin says

The median mortgage payment fell 14% to $2,361 in December from a record high in October, when mortgage rates hit a 23-year peak.

Fortune

Homebuyers are finally feeling relief now that monthly payments are at their lowest level in 8 months

It’s not all good news for buyers, the median home sale price is still up 4.5%, according to Redfin.

Fortune

Home prices will fall for the first time since 2012, Redfin’s chief economist predicts, but they'll still be ‘out of reach’ for many buyers

Redfin expects home prices to fall 1% in the second and third quarters of next year and be flat in the first and last quarters, per its 2024 housing market forecast.

Fortune

The best way to help your kids buy a home in a ‘nepo’ market

3 financial strategies for helping young would-be homeowners in a historically unaffordable housing market.

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Fortune

The housing market is so unaffordable that buyers need to make nearly $115K to afford the average home, Redfin says—that’s $40k more than average earnings

Maybe you didn’t know how bad the affordability situation has gotten in the housing market. (It's really bad.)

Fortune

Welcome to the 'nepo' housing market: 40% of homebuyers under 30 get family money to cover their down payment

Redfin chief economist Daryl Fairweather: "It seems like the only way to kind of get your foot in the door to the housing market is to have some help"

Axios

America's housing shortage is keeping home prices high

The shortage has its roots in the financial crisis, and was exacerbated by the pandemic.

Real Homes

Yikes! These are the rental red flags you need to avoid at all costs

Sound the alarms: These not-so-obvious rental red flags most definitely should not go unnoticed. Here's what the pros have to say.

Fortune

'Quiet quitting' the U.S. housing market: One group of sellers has disappeared

Move-up buying has ground to a near halt.

Fortune

Homeowners who held onto a 3% mortgage rate are becoming ‘accidental landlords’

99% of borrowers have a mortgage rate lower than 6%, according to Goldman Sachs, and some are choosing to rent out their homes instead of selling.

People

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