U.S. Plunged Into Housing Recession in August, Homebuilders Say
Homebuilder sentiment weakened for the eighth straight month, falling into negative territory for the first time since the pandemic first hit.

Homebuilder sentiment weakened for the eighth straight month, falling into negative territory for the first time since the pandemic first hit.
Private spending on single-family homes crashed 3.1 percent in June.
Housing prices in the San Francisco Bay Area dropped 7% from May to June 2022, their largest drop on record since records have been kept starting in 1990, amid an exodus from the troubled city, economic uncertainty, and rising interest rates.
Sales of new homes in the U.S. plunged 8.1 percent to a seasonally-adjusted annual rate of 590,000 in June, a far slower pace than expected by economists.
Big money investors and private equity firms, continuing to buy up affordable mobile home parks, are spiking rents for low-income and working-class Americans.
Senate Republicans have pushed back against the Federal Housing Finance Agency’s (FHFA) move to grant race-based housing subsidies.
Dozens of housing projects across China recently resumed construction after their stalled progress inspired a nationwide boycott in which Chinese homebuyers pledged to halt mortgage payments on pre-purchased, unfinished homes until building continued, China’s state-run Global Times reported on Sunday.
The Bill Gates-backed frontrunner for Conservative Party leader and Prime Minister has focused on banging the war drum on Ukraine, despite her rivals instead promising immigration and tax cuts.
A real estate analysis shows the average rent in Manhattan has risen to $5,058 a month — the highest in history and up 29 percent from last year.
Chinese state regulators vowed to help local governments complete unfinished property projects on Thursday after 100-plus delayed housing projects nationwide reported mortgage defaults in recent days, the state-run Global Times reported.
Rhode Island State Sen. Tiara Mack (D) has doubled down on her upside-down twerking video where she encourages constituents to vote for her.
Single-family home construction came to a standstill.
A report from a website focused on home buying shows the price of housing in the U.S. is soaring — up 21 percent since the start of 2021.
The number of South Korean families that moved from “urban areas to farming villages” reached an “all-time high” last year, Yonhap News Agency reported Thursday, noting that the phenomenon came in response to prolonged pandemic restrictions and surging home prices nationwide.
High home prices and rising mortgage rates are pushing more people to rent, driving up rents.
Gregg Marcel Dixon is running in the Democrats’ open primary against incumbent Jim Clyburn in South Carolina’s Sixth District.
Manufactured homes have long been a way for lower-income people to become homeowners but now this demographic is also feeling the pressure of rising costs and many fear for their future.
The uncertainty of the U.S. economy under Joe Biden is also affecting those in the market for buying a home.
Joe Biden’s Housing and Urban Development (HUD) has issued a report that claims “racial and ethnic bias” in the housing appraisal process.
San Francisco’s Democrat mayor London Breed has a plan to end homelessness for people who claim they are transgender — but her plan could mean women get pushed to the back of the line, says a critic.
Home prices are rising at a record pace.
A homeless veteran living in North Carolina has received the keys to a Winston-Salem home thanks to a local nonprofit that provides veterans with permanent housing solutions.
The California community of Alameda is pushing back against efforts to make neighborhoods denser by adding multi-unit buildings.
Pending home sales fell by more than twice what was expected.
Joe Biden and others on the left believe increasing the inventory of houses Americans can afford requires putting more residences in already existing neighborhoods, including changing zoning laws to allow multiple units on single-family home lots.
What does Burry see that reminds him of 2008?
Jeff Bezos, one of the richest men in the world, wants to expand his portfolio to include investments in single-family home rentals.
Big downward revisions to prior months show inflation and higher rates had slowed the market earlier than thought.
The worst reading since the depth of the early days of the pandemic and lockdowns.
The U.S. government is importing many refugees who are too poor and unskilled to afford decent housing, according to media reports.
A report from the Urban Reform Institute and the Frontier Centre for Public Policy shows that first-time home buyers who earn middle-class paychecks are being pushed out of U.S. cities across the United States because of high prices.
Ireland’s open borders government has announced that it wishes for state actors to purchase more homes for refugees, seemingly leaving native people to rot.
The coronavirus pandemic solidified the idea people don’t have to show up at an office to get work done. That fresh reality has led to a growing number of people relocating to more affordable cities across the country.
The notion that the March Consumer Price Index marked peak inflation was dealt a sharp blow by the Federal Reserve’s Beige Book on Wednesday.
Construction delays, high prices for materials, and rising interest rates took a bite out of single-family construction in March.
New York City is open for business, which also means the low rent prices during the pandemic are now going up, forcing some tenants out.
Canada’s federal government announced on Thursday plans to ban foreigners from purchasing homes in Canada for two years in an effort to lower surging home prices within the North American country, the BBC reported.
Corporations are buying up mobile home parks across the U.S. and owners of the manufactured housing are being hit with increased rent for lots and new property requirements.
Home prices are surging even while mortgage rates are climbing, creating an affordability crunch.
President Joe Biden’s administration is taking $377 million in funds from GOP-run heartland states to aid landlords in Democrat states that use illegal migration to inflate their populations, according to a report in the New York Times.