Housing Market
Housing Affordability Is Priority #1 for Gen Z Voters
A Redfin-commissioned survey finds housing affordability is the number one voting priority for Gen Z in this year’s presidential election.
June 6, 2024
A Redfin-commissioned survey finds housing affordability is the number one voting priority for Gen Z in this year’s presidential election.
Research from Zillow and StreetEasy show New York rents increased seven times faster than wages in 2023, putting an extra squeeze on renters’ budgets as housing affordability worsens.
A new Redfin report shows the share of new mortgages issued in 2023 to low-income homebuyers dropped from 23.2% in 2020 to 20.6% in 2023, bringing it back down to where it was in 2018 and erasing the progress made during the pandemic.
A new nationwide Coldwell Banker survey shows price is more important than location to more than half the surveyed consumers who are looking to purchase a home.
A new Redfin report shows a majority of U.S. homeowners and renters say housing affordability will impact their vote in this year’s presidential election.
In a letter to Fed Chairman Jerome Powell, Senator Elizabeth Warren and three other Democratic lawmakers express concerns that high interest rates have worsened the country’s housing access and affordability crisis.
Zillow released a new report showing over 20% of homeowners are now considering selling their homes within three years, largely due to the drop in mortgage rates and overall (though slight) improvement in housing affordability.
Zillow released its top 10 list of the hottest real estate markets for 2024, and Buffalo, New York sits at number one, followed by Cincinnati, Columbus, and other relatively affordable U.S. metros.
A new Redfin report shows just 16% of homes listed in 2023 were affordable for the typical homebuyer—the lowest share on record, down from 21% in 2022. Affordability is expected to improve in 2024 as mortgage rates drop and supply increases.
Two respected analysts, Ivy Zelman and Meredith Whitney, spoke recently on the aging homeowner population and its impact on household growth and the overall U.S. housing market—an impact Whitney described as a “silver tsunami.”
Redfin’s latest report shows a drop in homebuyer migration to different metro areas as remote work options decrease and home prices go up in popular migration destinations. This time, Spokane, WA, made the top 10 list of metros with the highest net inflow.
A home tour video on TikTok has gone viral with its upbeat portrayal of a 600-square-foot “tiny home” in San Antonio selling for $136,900, with an estimated mortgage payment of $1,000 a month. And folks on Twitter and TikTok are taking it personally.
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