#housing-affordability

#housing-affordability

Last year's presidential election underscored, particularly to Democrats, that the costs of living were a major factor in the outcome. Inflation had increased sharply during Joe Biden's presidency, and voters' angst about rising prices worked against Vice President Kamala Harris' campaign to succeed him in the White House. Not surprisingly, therefore, when the California Legislature opened its 2025 session, its dominant Democrats declared that they would focus on taming the state's notoriously high costs for housing, fuel, utilities and other necessities of modern life.

Take Greenpoint, Brooklyn, where the industrial-meets-artsy vibe used to come with a modest price tag. Since 2020, asking rents there have jumped a jaw-dropping 60-percent. Across the river in Chelsea, it's a similar story. A 54-percent surge has left even six-figure earners sweating their monthly Venmo transfers. Soho, never exactly a bargain, notched a 60-percent rise too, while Tribeca climbed 58-percent. Dumbo's picture-perfect waterfront? Up 49-percent. And Long Island City, where gleaming towers sprouted almost overnight, saw a 47-percent spike.

The U.S. Census Bureau's latest data reveals a modest increase in national median household income in 2024, reaching $81,604. While some states experienced notable income growth, 21 states saw no significant change in real income, hindering purchasing power and homeownership affordability. Rising mortgage costs and insurance premiums were key drivers behind the 3.8% increase in monthly costs for homeowners with a mortgage nationwide. Among the states, Massachusetts, New Jersey, and Maryland boasted the highest median household incomes, with the District of Columbia leading if considered a state. Notably, all state median incomes fell short of the minimum required to buy a typical home.

"We've had our disagreements. But in our conversations, I heard a leader who shares my commitment to a New York where children can grow up safe in their neighborhoods and where opportunity is within reach for every family. I heard a leader who is focused on making New York City affordable - a goal I enthusiastically support," Hochul wrote. "I also shared with him my priorities, making it very clear that our police officers should have every resource to keep our streets and subways safe. I urged him to ensure that there is strong leadership at the helm of the N.Y.P.D. - and he agreed," she said.

Gen-Z are being locked out of home ownership, campaigners have warned, as first-time buyers now face paying up to six times more for a home than their parents. An analysis of rental, property and salary data by The Independent reveals that the average homebuyer in 1995 had to save just a third of their salary 5,000 to put down a deposit, while today's first-time buyers are forking out average deposits nearly twice as high as the average salary.

In 2024, a U.S. Census Bureau survey revealed that a significant portion of U.S. homeowners were subject to either condominium or homeowners association (HOA) fees, with some facing steep monthly charges. The trend of employing HOAs in newly built communities has become prevalent, affecting home affordability as these fees continue to rise. The survey also highlighted the wide variation in fees across states, with some households paying over $500 per month.

Michael Broderick of First Home Scheme is amazed so many people who want to buy a property are unaware of the supports available

At the preliminary elections on Sept. 9, voters will have the opportunity to influence the direction of the city's future by deciding which mayoral and City Council candidates will advance to the general election on Nov. 4. The preliminary election will narrow the field, with the top two candidates in the mayoral race moving forward and eight city council candidates (out of ten) also advancing to the next round.

Every poison has its antidote. The glaring unaffordability of New York City can be confronted by policies that prioritize the needs of working people. The confounding inertia of the Democratic Party can be reversed by bold new progressive leaders. Trump's assault on our freedoms can be resisted by popular movements connected to people where they live. To my view, the mayoral campaign of Zohran Mamdani offers New Yorkers a remarkable, if not unprecedented, opportunity to act on all three of these at once.

Your $45K starting salary looked decent on paper until reality hit. The reality is that's the same $15/hour everyone was making in 2008. And it sucked then. Rent swallows half your paycheck before you even think about groceries. Student loans demand their monthly tribute like a financial overlord. And that emergency fund your parents keep mentioning? Please. This isn't an avocado toast issue. This is a laptop is required to function at work... even apply to work... issue.

Instead, I was sitting in my Iowa City apartment scrolling on my phone. I passed a video of hundreds of people gathered in Memorial Union Terrace for live music, a photo of old friends clinking margaritas at a Mexican restaurant I used to love ... As I saw more posts from my community back in Madison, Wisconsin, I felt a pang - not of jealousy, but something closer to grief.

California and Florida top the list of housing markets most at risk of a downturn in home values-with multiple counties facing significant challenges, according to ATTOM, a real estate analytics firm. Factors contributing to risk include affordability, underwater mortgages, foreclosures, and unemployment rates. The report highlights the unaffordability of housing in many counties, with residents needing to allocate a large portion of their income to home expenses.

The findings suggest that modular methods can reduce labor needs by up to 40%, speed project timelines by as much as 50%, cut costs when executed at scale and even reduce emissions. As a result, the modular industry poses a solution to some of the construction industry's biggest challenges including but not limited to costs, worker shortages and housing demand.

As young buyers scrape together down payments, boomers are sitting on $82 trillion in wealth-more than twice what Gen X has and four times as much as millennials. New research shows the wealth gap has only widened since the 1980s, as older generations saw bigger gains in homeownership and stocks while younger people took on faster-growing mortgage debt. With boomers holding onto large homes and aging in place, younger buyers are struggling to break into a shrinking market.

In a bold move to address the escalating U.S. housing affordability crisis, Treasury Secretary Scott Bessent announced that President Trump is contemplating declaring a "national housing emergency" this fall. Speaking to the Washington Examiner , Bessent emphasized the administration's focus on tackling soaring home prices and limited inventory, a critical issue as the 2026 midterms approach. Potential actions include standardizing local building and zoning codes, reducing closing costs, and exploring tariff exemptions for construction materials to boost housing supply.

Landfill tax is currently charged at two rates: a standard rate of £126.15 per tonne and a lower rate of £4.05 per tonne for inert materials like soil, concrete and bricks. The lower rate was introduced because these materials do not break down in ways that cause pollution. From April 2025, the government has proposed phasing out the two-tier system in favour of a single flat rate. Officials argue that this change will "simplify the system, reduce fraud, and better support environmental targets."

Last summer, Spain's Balearic Islands launched one of Europe's toughest crackdowns on alcohol-fuelled party tourism. In popular resorts such as Magaluf in Mallorca and Sant Antoni in Ibiza, tourists spilled out of bars at dawn, clutched cheap bottles from late-night shops, and treated entire neighbourhoods as giant open-air nightclubs. Local people were fed up. Noise complaints, violent brawls and clashes between residents and intoxicated tourists became routine.

These findings underscore the depth and breadth of the housing crisis, which is increasingly pricing out working families across the country regardless of geography or profession, said David M. Dworkin, president and CEO of the National Housing Conference. The housing affordability crisis is now hitting families in every metro area, for nearly every occupation. The analysis of 390 metropolitan areas found that nearly one-third now require double the income needed just six years ago to purchase a home.

Wausau, Wisconsin, has secured a place on the Realtor.com® 2025 Hottest ZIP Codes list, highlighting the demand for affordable, fast-moving homes in the Midwest. Each year, the rankings identify communities where listings sell at record speed and attract far more buyer attention than the national average. In 2025, Wausau's 54403 ZIP code made the cut, underscoring the enduring appeal of smaller Midwestern cities that combine affordability with quality of life.

Mortgage rate squeeze: AI investments are diverting capital from the housing market, contributing to the housing affordability crisis and impacting home sales. Utilities impact: The AI industry's high energy demands are driving utilities to expand capacity, with projects like nuclear reactors aiming to meet data center needs, potentially benefiting consumers with stable pricing. Water consumption: AI data centers are significant water consumers, leading to shortages and increased utility bills for residents, exacerbating housing market pressures.

From January to June 2025, Kenosha listings drew 2.9 times more views per property than the typical U.S. listing and sold in a median of 29 days. The median listing price came in at $321,000, well below the national median of $440,000, underscoring why this Midwestern hub has become a magnet for value-driven buyers.

Situated in the Lehigh Valley region, Allentown offers a strategic location, relative affordability, and a mix of urban and suburban living that's resonating with buyers in 2025. From January to June 2025, Allentown listings received 2.9 times more views per property than the U.S. average and sold in a median of just 24 days. The median listing price during that period was $433,000, putting it just below the national median of $440,000 and making it one of the more affordable markets in the Top 20.