Nick Ivan 
Housing has a prominent role to play within the consumer price index, which is one of the most significant inflation indicators. As shelter is the most expensive cost for the average American household, it accounts for over a third of the CPI weight, providing it with a disproportionate impact on inflation data. For many months, …
Last week, homeowners looking to refinance received some good news as mortgage rates slightly decreased following the Federal Reserve Chairman’s indication of a potential end to interest rate hikes. Although not a significant drop, the dip was sufficient to see a boost in demand for refinancing. The Mortgage Bankers Association’s weekly survey reported that the …
April saw a decline in inflation, with the consumer price index rising only 4.9% compared to the same period last year, marking the smallest increase since April 2021. This signals a deceleration of prices for household staples and an overall moderation of price pressures for consumers from multidecade-high levels. Policymakers aim to keep inflation at …
Lee Xian Jie embarked on a mission to restore a traditional farmhouse in Ryujin-mura, a village in Japan’s Wakayama prefecture, despite its rundown condition. The building, over 300 years old, stands on valuable land with historical significance and is one of Japan’s ‘akiya’ or vacant properties. Lee felt a deep interest in history and wanted …
The Hamptons, one of America’s most affluent beach communities, is experiencing an oversupply of rentals this summer. With twice the normal number of seasonal rentals available due to the Covid pandemic, many homeowners are finding it challenging to fill their properties and have started trimming prices by 10% to 20%. Brokers predict that prices may …
The Invisible House, situated on 67.5 acres just steps away from the Joshua Tree National Park, boasts a mirror-clad facade that creates the illusion of the home disappearing into its surrounding desert landscape. The modern glass architecture spans almost 5,500 square feet, featuring three bedrooms, four baths, and a 100-foot indoor pool. Co-listing agent Aaron …
The recent agreement reached by the Biden administration and states dependent on the Colorado River demonstrates a proactive move towards conservation. In exchange for at least $1 billion in federal funding, California, Arizona, and Nevada agree to temporarily reduce their water usage by 3 million acre-feet until 2026, representing about 13% of their allocated river …
Contractors are hard at work on the concrete slabs at the Cielo at Sand Creek housing development in Antioch, California. However, on Tuesday, the average rate on a 30-year fixed mortgage rose above 7%, marking the highest level since early March, according to Mortgage News Daily. There are several reasons behind this rise in rates, …
Last week, the fear of the Federal Reserve’s reluctance to lower interest rates due to stronger economic data led to a surge in mortgage rates. This, in turn, resulted in a drop in mortgage demand to the lowest level since February’s end. According to the Mortgage Bankers Association, the average contract interest rate for 30-year …
The consumer price index (CPI) measures inflation rates based on several consumer categories, but housing has the most significant impact. Housing accounts for more than one-third of the weighting in the CPI, which makes it the largest expense for an average US household, according to economists. The pandemic led to a hike in housing costs, …