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Federal government will back $1 million mortgages for the first time
Source: CBS News --- For the first time, the federal government will back mortgages of more than $1 million, a move that reflects the run-up in home prices across much of the nation. The Federal Housing Finance Agency (FHFA) on Tuesday said the maximum size of...
Rising Inventory Will Be the Housing Market’s Next Problem
Source: The Washington Post --- The US housing market is in an uneasy state of equilibrium. Demand has plummeted as mortgage rates hit a two-decade high, but prices haven’t declined much in part because supply remains correspondingly low. If borrowing costs don’t...
‘Lunchflation’ is real. Returning to the office is costing us a fortune
Source: CNN --- Millions of employees started working remotely after the pandemic first took hold in 2020. But now, more people are returning to the office -- and they're being greeted by much higher prices for just about everything. Food. Commuting. Daycare....
Why Utah housing market is ‘very low risk’ for price drops — while other parts of the West are ‘high risk’
Source: Deseret --- As rising mortgage rates continue to put pressure on the U.S. housing market and the entire economy, economists and housing researchers are seeing early signs of a cooling market — but a question remains. Is a widespread correction coming to what...
Here’s why major cities may still be worth their high cost of living
Source: CNBC --- Many renters believe that a cost-of-living crisis is brewing in America’s major cities. New York City is showing up as a hotspot of rent inflation. The average rent for 1-bedroom apartments in Manhattan rose to $3,995 a month in May 2022 — a 41%...
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