#housing-costs

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10.5 million borrowers at or over age 65 still have forward mortgages

Many seniors still pay mortgages, with 10.5 million aged 65+ facing this financial reality.
Older homeowners have low housing costs despite mortgage burdens; homes tend to be less valuable.
#economic-growth

Jobs in Coney Island, Brighton Beach Double in a Decade

Coney Island and Brighton Beach experienced a 101% job growth in the past decade, but high housing costs remain a major issue for residents.

How Much Does the Average Person Spend per Year? (2023) - Shopify

Understanding consumer spending patterns is crucial for businesses targeting the US market.
Consumer spending in the US increased significantly from 2020 to 2022, outpacing income growth.

Jobs in Coney Island, Brighton Beach Double in a Decade

Coney Island and Brighton Beach experienced a 101% job growth in the past decade, but high housing costs remain a major issue for residents.

How Much Does the Average Person Spend per Year? (2023) - Shopify

Understanding consumer spending patterns is crucial for businesses targeting the US market.
Consumer spending in the US increased significantly from 2020 to 2022, outpacing income growth.
moreeconomic-growth
#renting

How much money do you need to make to afford rent in California? What new study says

California has the highest housing costs in the country, with residents needing high hourly wages to afford rent.

Suze Orman Reveals Hidden Danger of Renting in Retirement - 'Make Sure You Are Not Blind to One Risk'

Renting is becoming increasingly popular among older Americans, with 1 in 5 renting to avoid maintenance costs.
Rent inflation poses a hidden risk for older renters considering long-term stability.

Report: Here's how many hours you have to work to pay your rent in Mass.

The number of hours needed to work to afford rent has significantly increased over the past two decades, highlighting wage stagnation.

How much money do you need to make to afford rent in California? What new study says

California has the highest housing costs in the country, with residents needing high hourly wages to afford rent.

Suze Orman Reveals Hidden Danger of Renting in Retirement - 'Make Sure You Are Not Blind to One Risk'

Renting is becoming increasingly popular among older Americans, with 1 in 5 renting to avoid maintenance costs.
Rent inflation poses a hidden risk for older renters considering long-term stability.

Report: Here's how many hours you have to work to pay your rent in Mass.

The number of hours needed to work to afford rent has significantly increased over the past two decades, highlighting wage stagnation.
morerenting

Pittsburgh vs Philadelphia: Which City is Right for You? Comparing Real Estate, Cost of Living, Culture, and More

Pittsburgh is generally more affordable than Philadelphia, with lower costs in housing, groceries, and healthcare.
#inflation

It's not the economy stupid, that could deliver a win for Kamala Harris

US households are experiencing significant inflationary pressures across multiple essential living costs, leading to a strong desire for change in political leadership.

Harris fires back against Trump's economic attacks with proposals for tax cuts and populist policies

Harris proposes economic policies to lower living costs and provide financial relief to voters, countering criticism from Republicans.

US inflation slows in July, clearing way for a cut in interest rates

Inflation is easing, reaching its lowest level in over three years, potentially impacting Federal Reserve interest rates.

Wages have outpaced inflation since 2020 but many consumers still feel burdened by prices

Wages in the US have outpaced inflation since 2020, providing positive real wage growth for American workers.

Jill On Money: Slow progress on inflation

Inflation progress has been slow, with Core rate falling to lowest level since April 2021, driven by factors like housing costs and energy prices.

Trump tariffs would result in homebuilder price increases

Trump's trade policies could lead to increased housing costs and inflation, hindering affordability.
Proposed tariffs may substantially affect the U.S. economy and housing market.

It's not the economy stupid, that could deliver a win for Kamala Harris

US households are experiencing significant inflationary pressures across multiple essential living costs, leading to a strong desire for change in political leadership.

Harris fires back against Trump's economic attacks with proposals for tax cuts and populist policies

Harris proposes economic policies to lower living costs and provide financial relief to voters, countering criticism from Republicans.

US inflation slows in July, clearing way for a cut in interest rates

Inflation is easing, reaching its lowest level in over three years, potentially impacting Federal Reserve interest rates.

Wages have outpaced inflation since 2020 but many consumers still feel burdened by prices

Wages in the US have outpaced inflation since 2020, providing positive real wage growth for American workers.

Jill On Money: Slow progress on inflation

Inflation progress has been slow, with Core rate falling to lowest level since April 2021, driven by factors like housing costs and energy prices.

Trump tariffs would result in homebuilder price increases

Trump's trade policies could lead to increased housing costs and inflation, hindering affordability.
Proposed tariffs may substantially affect the U.S. economy and housing market.
moreinflation

Portland voters passing 4 of 5 city ballot measures

Portland voters are largely favoring measures promoting environmental initiatives, while Measure 26-253 faces defeat due to housing cost concerns.

JD Vance says pumping more oil will make housing cheaper. Economists say that's a stretch.

Lowering energy costs is less impactful on homebuilding than addressing labor and material costs, according to housing experts.
#remote-work

How Super Commuting is Threatening American Housing | Entrepreneur

Super commuters are increasingly common in the U.S., seeking affordable housing while maintaining high-paying jobs in expensive metropolitan areas.

Can remote workers reverse brain drain?

Tulsa's innovative strategy in attracting remote workers has revitalized the city and boosted its economy by turning brain drain into brain gain.

7 places across the U.S. that will pay you thousands of dollars to move there

Remote work enables job seekers to consider living in more affordable areas outside major cities.

6 places across the U.S. that will pay you thousands of dollars to move there

Taking advantage of remote work can allow individuals to explore job opportunities outside major cities, reducing housing costs without compromising job quality.

Column: California's population is on the rise. So much for the claims of the state's demise

California's population resumed growth due to factors like fewer remote work options in other states and relaxed immigration restrictions.

How Super Commuting is Threatening American Housing | Entrepreneur

Super commuters are increasingly common in the U.S., seeking affordable housing while maintaining high-paying jobs in expensive metropolitan areas.

Can remote workers reverse brain drain?

Tulsa's innovative strategy in attracting remote workers has revitalized the city and boosted its economy by turning brain drain into brain gain.

7 places across the U.S. that will pay you thousands of dollars to move there

Remote work enables job seekers to consider living in more affordable areas outside major cities.

6 places across the U.S. that will pay you thousands of dollars to move there

Taking advantage of remote work can allow individuals to explore job opportunities outside major cities, reducing housing costs without compromising job quality.

Column: California's population is on the rise. So much for the claims of the state's demise

California's population resumed growth due to factors like fewer remote work options in other states and relaxed immigration restrictions.
moreremote-work
#affordability

Rent Burden by City: Where Residents Spend the Highest Share of Income on Rent

Typical renters spent 31% of their income on rent, highlighting a significant affordability issue compared to homeowners.

Tim Walz is a YIMBY. He's supported a ton of new housing that's kept rents down in Minnesota.

Housing costs and affordability are top concerns for American voters. Minnesota Governor Tim Walz, known for boosting housing supply, is seen positively by pro-housing advocates.

The dream of owning a home is slipping away for a majority of renters, New York Fed survey finds

The dream of owning a home is dwindling for many Americans due to soaring housing costs and challenging mortgage rates.

Miami Herald adds economic mobility reporter through support from 15 local contributors

South Florida's high housing costs hinder home ownership and economic mobility for many residents.

Report: BK Housing Prices Surge

Rent costs in Brooklyn have surged by 68% over the past decade, outpacing other major cities in the U.S.
53% of NYC households were rent-burdened in 2021, with Brooklyn having the highest number of households facing high rent burdens.

Rent Burden by City: Where Residents Spend the Highest Share of Income on Rent

Typical renters spent 31% of their income on rent, highlighting a significant affordability issue compared to homeowners.

Tim Walz is a YIMBY. He's supported a ton of new housing that's kept rents down in Minnesota.

Housing costs and affordability are top concerns for American voters. Minnesota Governor Tim Walz, known for boosting housing supply, is seen positively by pro-housing advocates.

The dream of owning a home is slipping away for a majority of renters, New York Fed survey finds

The dream of owning a home is dwindling for many Americans due to soaring housing costs and challenging mortgage rates.

Miami Herald adds economic mobility reporter through support from 15 local contributors

South Florida's high housing costs hinder home ownership and economic mobility for many residents.

Report: BK Housing Prices Surge

Rent costs in Brooklyn have surged by 68% over the past decade, outpacing other major cities in the U.S.
53% of NYC households were rent-burdened in 2021, with Brooklyn having the highest number of households facing high rent burdens.
moreaffordability
#retirement

They decided to leave the Bay Area and never looked back

Bay Area residents are increasingly considering leaving due to high living costs and challenging social conditions.

This U.S. Retirement Spot Is Just as Affordable as Mexico and Portugal

Moving abroad for retirement is popular, but many affordable options exist within the U.S. for retirees.

A boomer who couldn't afford retirement in the US moved to Ecuador and said she's living an 'upscale life on a modest budget'

Gretchen and Robert moved to Ecuador for affordable healthcare and housing, allowing them to retire comfortably on $3,000 a month.

They decided to leave the Bay Area and never looked back

Bay Area residents are increasingly considering leaving due to high living costs and challenging social conditions.

This U.S. Retirement Spot Is Just as Affordable as Mexico and Portugal

Moving abroad for retirement is popular, but many affordable options exist within the U.S. for retirees.

A boomer who couldn't afford retirement in the US moved to Ecuador and said she's living an 'upscale life on a modest budget'

Gretchen and Robert moved to Ecuador for affordable healthcare and housing, allowing them to retire comfortably on $3,000 a month.
moreretirement

Opinion: Proposition 5 would turbo-charge tax hikes, increase local debt

Proposition 5 threatens to raise property taxes and revert to pre-Proposition 13 conditions, endangering homeowners' finances.
#rental-market

The best boroughs to live in NYC - based on your salary

New York City's median rent continues to rise, reflecting a strong rental market despite varying affordability across different areas.

California Joins DOJ Antitrust Lawsuit, Alleges Price-Fixing Software Drives Up Rent | KQED

The Department of Justice and multiple states have filed an antitrust lawsuit against RealPage for allegedly facilitating illegal rent increases by landlords.

You need to make $123,269 a year not to be 'rent burdened' here

BIPOC households in metro Boston spend 41% of income on rent, compared to 33.5% for white households.

Ask Our Chief Economist: What Is a Rent Concession? How to Ask, Negotiate, and Save on Your Next Apartment

Rent concessions can reduce immediate housing costs for renters but may lead to higher renewal costs.
Landlords often offer concessions during periods of low demand to fill vacancies quickly.

The best boroughs to live in NYC - based on your salary

New York City's median rent continues to rise, reflecting a strong rental market despite varying affordability across different areas.

California Joins DOJ Antitrust Lawsuit, Alleges Price-Fixing Software Drives Up Rent | KQED

The Department of Justice and multiple states have filed an antitrust lawsuit against RealPage for allegedly facilitating illegal rent increases by landlords.

You need to make $123,269 a year not to be 'rent burdened' here

BIPOC households in metro Boston spend 41% of income on rent, compared to 33.5% for white households.

Ask Our Chief Economist: What Is a Rent Concession? How to Ask, Negotiate, and Save on Your Next Apartment

Rent concessions can reduce immediate housing costs for renters but may lead to higher renewal costs.
Landlords often offer concessions during periods of low demand to fill vacancies quickly.
morerental-market
#renters

Renters across L.A. are under strain and many fear becoming homeless, survey finds

Nearly 4 in 10 renters in Los Angeles County worry about losing their homes, reflecting intense strain from high housing costs.

$30,000 a Year for Housing? That's Average in New York.

Housing costs in New York City have increased significantly, with the average household spending about $30,000 per year on housing expenses.
Low-income households have been the most affected by the rising housing costs, but moderate- and middle-income households have also felt the pressure.

56% of California renters slammed by housing costs vs. 35% of homeowners

Over half of California tenants pay 30% or more of their income for housing, exposing a significant financial burden.
California renters particularly face mounting housing costs, being the state with the highest number of burdened households.

Concord lawmakers will vote on these new, stronger tenant protections this month

Concord City Council is set to approve comprehensive rules for tenant protections, including stronger rent stabilization and just cause eviction policies.
Only 26 out of 538 cities and counties in California have enacted rent stabilization policies, showing that these protections are still relatively rare.

Renters across L.A. are under strain and many fear becoming homeless, survey finds

Nearly 4 in 10 renters in Los Angeles County worry about losing their homes, reflecting intense strain from high housing costs.

$30,000 a Year for Housing? That's Average in New York.

Housing costs in New York City have increased significantly, with the average household spending about $30,000 per year on housing expenses.
Low-income households have been the most affected by the rising housing costs, but moderate- and middle-income households have also felt the pressure.

56% of California renters slammed by housing costs vs. 35% of homeowners

Over half of California tenants pay 30% or more of their income for housing, exposing a significant financial burden.
California renters particularly face mounting housing costs, being the state with the highest number of burdened households.

Concord lawmakers will vote on these new, stronger tenant protections this month

Concord City Council is set to approve comprehensive rules for tenant protections, including stronger rent stabilization and just cause eviction policies.
Only 26 out of 538 cities and counties in California have enacted rent stabilization policies, showing that these protections are still relatively rare.
morerenters

18% of California households enjoy mortgage-free living

Only 18% of California households are mortgage-free, far below the national average of 26%.

Why Japan is one of the only countries that isn't fed up with housing costs

Rising housing costs frustrate many Americans, unlike Japan where satisfaction exceeds 70%.
The US experienced a notable decline in housing satisfaction from 61% in 2020 to 39%.
#us-inflation

Housing cost slowdown to run into 2025, San Francisco Fed suggests

Housing costs, a major driver of US inflation, are expected to ease by 2025 according to Federal Reserve Bank research.

Inflation Drops Again in June, Clearing the Path to a Fed Rate Cut This Fall-and Relief for Homebuyers

U.S. annual inflation at lowest in over three years, indicating possible September interest rate cut for mortgage market relief.

Housing cost slowdown to run into 2025, San Francisco Fed suggests

Housing costs, a major driver of US inflation, are expected to ease by 2025 according to Federal Reserve Bank research.

Inflation Drops Again in June, Clearing the Path to a Fed Rate Cut This Fall-and Relief for Homebuyers

U.S. annual inflation at lowest in over three years, indicating possible September interest rate cut for mortgage market relief.
moreus-inflation
from www.npr.org
3 months ago

Harris' plan for groceries and housing. And, the race to win 'song of the summer'

Vice President Harris focuses on grocery and housing costs in her first major campaign policy speech, addressing key voter concerns.
from Los Angeles Times
3 months ago

'We just can't afford to live here.' Housing costs are driving people out of Orange County, poll says

Many residents in Orange County, California, are considering moving due to high costs of housing and basic necessities, even with solid incomes.

Boston behind only NYC in homelessness, says new report

High housing costs contribute to rising homelessness in Greater Boston.
#affordable-housing

Pronto Housing Raises $3M to Address the Affordable Housing Crisis by Streamlining the Process for Both Renters and Property Owners

12M tenants struggle with housing costs
Pronto Housing simplifies affordable housing processes

Get a Good House for Dirt Cheap Prices in These Towns

Macon County, Illinois and Schuylkill County, Pennsylvania have the most affordable housing markets, with Hawaii and Idaho showing significant burdens on annual wages for housing.

Pronto Housing Raises $3M to Address the Affordable Housing Crisis by Streamlining the Process for Both Renters and Property Owners

12M tenants struggle with housing costs
Pronto Housing simplifies affordable housing processes

Get a Good House for Dirt Cheap Prices in These Towns

Macon County, Illinois and Schuylkill County, Pennsylvania have the most affordable housing markets, with Hawaii and Idaho showing significant burdens on annual wages for housing.
moreaffordable-housing

MassInc poll: 1 in 5 say they want to move out of Mass.

High housing and transportation costs are prompting one in five Massachusetts residents to consider leaving the state.

The Gen-Z Advantage in Housing

Gen Z and millennials face similar housing costs despite earning differences.

Asylum chaos as RAF sites and Bibby Stockholm barge to cost more than hotels

High costs for housing asylum seekers on RAF sites and barge
Government spending millions on new sites with delayed implementation

The 5 States With the Most Young Adults Still Living With Their Parents-and the 5 With the Fewest

Around 19.1% of young adults aged 25-34 live with parents/in-laws, influenced by economics and ethnic diversity.
Hawaii has the highest percentage due to high housing costs; North Dakota has the lowest, with more affordable housing options.
#poverty

Los Angeles County demographic changes: What you need to know about new 2022 U.S. Census data

The U.S. Census Bureau released the 2022 American Community Survey, which revealed demographic trends and data.
California has nearly 6 million senior citizens, with the number expected to double by 2030, and 14% of senior citizens in Los Angeles County living in poverty.

More than 300,000 families in poverty despite parents working full-time

Over 300,000 families in poverty despite full-time work
High housing costs contribute to financial struggles

Study finds official statistics fail to capture scale of poverty and inequality

Housing costs are not routinely considered in official poverty statistics, leading to a miscalculation of poverty and inequality.
Including housing costs in poverty measurements reveals that the poorest households spend three-and-a-half times more on housing than the richest.
Measures of poverty that include housing costs are more closely aligned with measures of material deprivation and food insecurity.

Los Angeles County demographic changes: What you need to know about new 2022 U.S. Census data

The U.S. Census Bureau released the 2022 American Community Survey, which revealed demographic trends and data.
California has nearly 6 million senior citizens, with the number expected to double by 2030, and 14% of senior citizens in Los Angeles County living in poverty.

More than 300,000 families in poverty despite parents working full-time

Over 300,000 families in poverty despite full-time work
High housing costs contribute to financial struggles

Study finds official statistics fail to capture scale of poverty and inequality

Housing costs are not routinely considered in official poverty statistics, leading to a miscalculation of poverty and inequality.
Including housing costs in poverty measurements reveals that the poorest households spend three-and-a-half times more on housing than the richest.
Measures of poverty that include housing costs are more closely aligned with measures of material deprivation and food insecurity.
morepoverty
#mental-health

Renting? You probably report lower quality of life than homeowners | CBC News

Renters report lower quality of life than homeowners, especially in Vancouver and Toronto.
Younger Canadians face challenges in housing costs and overall life satisfaction compared to older age groups.

Revealed: Impact of London's sky-high rent and mortgage repayments on mental health

One in 10 Londoners say their mental health has been negatively affected by the anxiety of keeping up with their rent or mortgage, the highest proportion in Britain.
43% of Londoners said they had seen their rent or mortgage go up in the past six months, higher than any other region.

Renting? You probably report lower quality of life than homeowners | CBC News

Renters report lower quality of life than homeowners, especially in Vancouver and Toronto.
Younger Canadians face challenges in housing costs and overall life satisfaction compared to older age groups.

Revealed: Impact of London's sky-high rent and mortgage repayments on mental health

One in 10 Londoners say their mental health has been negatively affected by the anxiety of keeping up with their rent or mortgage, the highest proportion in Britain.
43% of Londoners said they had seen their rent or mortgage go up in the past six months, higher than any other region.
moremental-health
#income-inequality

More than half of US Latinos worry about being able to pay rent or mortgage each month

Latino families face financial struggles despite the community's significant economic growth.

California's Middle Class Declines as Low and High Incomes Surge, Study Shows | KQED

California is losing middle-income earners, with a 7% decrease in this demographic between 2000 and 2019.
High housing costs are a primary driver for middle-income residents leaving the state.

More than half of US Latinos worry about being able to pay rent or mortgage each month

Latino families face financial struggles despite the community's significant economic growth.

California's Middle Class Declines as Low and High Incomes Surge, Study Shows | KQED

California is losing middle-income earners, with a 7% decrease in this demographic between 2000 and 2019.
High housing costs are a primary driver for middle-income residents leaving the state.
moreincome-inequality

'I really thought the culture at my job was great': Worker says manager gave her a 'shoutout' for doing a great job. She was fired on the same day

Work-from-home mom fired without warning despite performing well at her job.
She is now in a precarious financial position and may have to move out of her current residence.

Freeze rents for two years to calm 'out of control' London housing market, says Green mayoral candidate

Green party's London mayoral candidate calls for a two-year freeze on rents to address out of control housing costs.
She proposes establishing a rent commission for London to set target rent levels and increase pressure on the government to grant mayor powers to control rents.

Half a Million New Yorkers Fled the State In Search of Lower Cost of Living - Here's Where They Went

High costs in New York, especially housing, are leading many residents to look for lower cost of living elsewhere.
Approximately 545,500 New Yorkers moved to other states in 2022, reflecting a larger trend of people moving between states in the U.S.

The Cats of Old San Juan Are Being Run Out of Town. Locals Can Sympathize.

Residents of Old San Juan, Puerto Rico, are upset about a federal plan to remove feral cats, feeling pushed out amidst rising housing costs.

HUD awards $325M in grants to rehab distressed housing

HUD awarded $325 million to 15 cities under the Choice Neighborhoods program alongside President Biden's housing proposal.
The Choice Neighborhoods program focuses on revitalizing distressed housing, neighborhood businesses, services, and schools.

Biden to call for 5% cap on annual rent increases

President Biden to propose 5% cap on rent increases for major landlords to address housing costs; solution would need Congressional support and focuses on existing units.

Barcelona residents are so fed up with tourism they're squirting visitors with water guns as they try to enjoy their meals

Residents in Barcelona protest mass tourism with water pistols, highlighting negative impact on housing costs and quality of life.

Home affordability just hit its lowest point since 2007: Here's where buyers have it the worst

Home affordability is decreasing, with housing costs taking up a larger percentage of homeowners' income.

San Francisco remains a magnet for the young and queer

San Francisco remains a haven for young LGBTQ+ individuals seeking safety and community despite rising housing costs.

Dallas drivers are putting in more miles to get to work, study finds

Dallas residents are opting for longer commutes to suburban areas post-pandemic for more space and affordable housing.

New York City Brokers Are Losing Their Minds. I Asked Some Why They're So Angry.

Real estate brokers in NYC protest against a bill shifting payment responsibility from tenants to landlords, impacting their income.
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