Author: Brad Beckett

The U.S. government is reporting that privately‐owned housing starts in April, 2024 were at a seasonally adjusted annual rate of 1,360,000, which is 5.7% higher than March’s revised number and is 0.6% lower than one year ago.  April’s rate for units in buildings with five units or more was 322k.  Privately‐owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,440,000, which is 3% below March’s revised number and is 2% lower than one year ago.  Authorizations of units in buildings with five units or more were at a rate of 408k in…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in April, 2024.  The all items index was up 3.4% for the 12 months ending in April.  The index for shelter and gasoline rose again in April as well – combined these two indexes contributed over 70% of the monthly increase in the all items index.  Indeed… Click here to read the full release at the Bureau of Labor Statistics.

Do you enjoy reading physical books are e-books?  Today’s graphic from the Daily Infographic says data shows that in a time when everything is becoming digital, books are one of the few areas where the physical object is still prevalent.  Indeed…..  Stay safe and have a Happy Friday!!! Hat tip to the Daily Infographic.

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased year over year by 5.3% in March, 2024 – marking the 146th consecutive month of annual growth.  CoreLogic prodecits that over the next 12 months, year-over-year home price gains are projected to range between 3.7% and 5.6%. “Home prices increased again this March beyond the typical seasonal uptick, despite mortgage rates reaching this year’s high and the affordability crunch continuing to keep many prospective buyers on the sidelines…Even with the long-anticipated break in for-sale inventory, the surging cost of homeownership, further fueled by…

A new study from Bankrate.com says homeownership remains a centerpiece of Americans’ financial aspirations. However, they say with record-high home prices high mortgage rates, would-be homeowners are struggling to achieve their piece of the American dream.  According to the report, 78% of Americans consider homeownership a key component of the American dream and placed a higher value on it than on any other indicator of economic stability – including a comfortable retirement, a successful career or a college degree. “Owning a home is still the centerpiece of the American dream, but affordability is the main obstacle to making that a…

CBS news is reporting that the IRS is planning to ramp up audits as it cracks down on tax cheats and seeks to deliver more revenue into the U.S. Treasury.  This comes on the heels of $80 billion in new funding from the so-called Inflation Reduction Act (IRA), signed into law by President Joe Biden in 2022.  The report says the IRS’ plan over the next three tax years includes a sharp increase in audits, but they say they won’t boost enforcement for people who earn less than $400k annually.  Stay tuned…. “The changes outlined in this report are a…

The NAHB’s Eye on Housing says housing’s share of the economy rose to 16.1% in the first quarter of 2024, after remaining below 16% for all of 2023.  They say this increase to above 16% marks the first-time housing’s share of GDP is above 16% since 2022.  Housing-related activities contribute to GDP in two basic ways: Through residential fixed investment (RFI) – effectively the measure of home building, multifamily development, and remodeling contributions to GDP. The measure of housing services, which includes gross rents (including utilities) paid by renters, and owners’ imputed rent (an estimate of how much it would…

Zumper asks;  Which cities afford singles the best lifestyle and opportunities to meet a better half? To that end, they analyzed around 100 of the top cities by looking at median rent, percentage of single population, cost of living, median income, unemployment rate, and access to dining and entertainment.  Be sure to look at their entire list. “From the bustling streets of Atlanta, Georgia, to the charming neighborhoods of Pittsburgh, Pennsylvania, these cities offer many opportunities for singles to connect and thrive. With affordable living options, vibrant entertainment scenes, and bustling dating environments, these cities are the perfect places to…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,725 in April, 2024.  Yardi says multifamily rents increased for the second straight month, as the market benefits from robust demand.  Indeed… “Although rent growth remains moderate, there are plenty of encouraging signs in the data.  Most importantly, demand for apartments continues unabated due to high levels of household formation stemming from the strong job market, large numbers of immigrants and ongoing migration to the South and West.” Click here to read the full report at Yardi.

This Sunday, May 12 is Mother’s Day (your final reminder, btw).  The History Channel says Mother’s Day became an official U.S. holiday in 1914 and traditionally involves presenting moms with flowers, cards and other gifts.  Today’s infographic from Groupon shares with us the best ideas for what Mom really wants (and doesn’t) on this special day…and yes, a card is necessary.  As always, stay safe and have a Happy Friday!!! Hat tip to Groupon.