Real Estate

Manhattan Average Rent Reaches $6,655 in July Amidst Upcoming Rent Freeze

Manhattan's average rent hit a record $6,655 in July, marking a 10% increase from the previous year. This rise coincides with Mayor Zohran Mamdani's upcoming rent freeze for rent-stabilized apartments, which has raised concerns among some economists about potential negative impacts on the rental market and property maintenance.

U.S. Existing Home Sales Decrease by 1.7% in July

In July 2026, sales of previously occupied homes in the U.S. fell by 1.7%. The decline is linked to high home prices and increased mortgage rates, making it difficult for many buyers to enter the market.

California Cities Struggle to Meet Housing Construction Targets

California cities and counties are not meeting state housing construction targets, despite having approved plans. The construction of new housing is lagging behind the required pace.

Federal Judge Rules Against Johnston's Land Seizure for Housing Project

A federal judge ruled that Johnston, Rhode Island, unlawfully seized land intended for an affordable housing project, stating the town lacked the legal authority to do so. The ruling emphasizes the necessity for municipalities to adhere to state laws regarding eminent domain. The case remains ongoing as additional claims are still being addressed.

Los Angeles Housing Politics: Mayoral Candidate Nithya Raman Advocates for Change

Los Angeles is grappling with a housing affordability crisis, with high home prices and a pressing need for increased housing density. Mayoral candidate Nithya Raman is advocating for more housing development while also supporting tenant protections. Her campaign could significantly impact housing policy in California and other high-cost cities.

Eviction Amid Extreme Heat in Las Vegas

Susie Tyson and her daughter Shelby were evicted from their Las Vegas apartment on June 17, 2026, during a heatwave that saw temperatures reach 108 degrees Fahrenheit. Following their eviction, they faced difficulties in finding new housing and managing the financial burden of temporary accommodations. Their situation underscores the challenges of housing insecurity amid extreme weather conditions in the region.

Santa Cruz named most expensive rental market in the U.S.

Santa Cruz, California, has been identified as the most expensive rental market in the U.S., according to a recent report. This coastal community is located about 90 minutes south of San Francisco and has outpaced other major cities in rental costs.

Nevada Plans to Convert Golf Course into Affordable Housing Complex

Nevada is moving forward with plans to convert the Badlands Golf Club in Las Vegas into the largest affordable housing complex in the state. This initiative addresses the significant housing shortage in the area, while also highlighting the challenges of local opposition to such developments. The project aims to provide affordable housing along with community amenities.

Mamdani Administration Extends $1.86 Billion Contract for NYC Hotels as Homeless Shelters

30-Year Fixed-Rate Mortgage Average Reaches 6.66%

The average 30-year fixed-rate mortgage has reached 6.66%, the highest rate in a year. This rise is linked to inflation and geopolitical concerns.

Single Women Outnumber Single Men in Homeownership in the U.S.

In the U.S., single women have surpassed single men in homeownership, with 20 million women owning homes compared to nearly 17 million men. The reasons for this trend and the challenges faced by these women are explored by economics correspondent Paul Solman.

Settlement Reached in Case of Honolulu Widow Fined $590,000 Over Rental Listing Error

Sandra May, an 83-year-old widow, has settled with the city of Honolulu over a $590,000 fine related to an online rental listing error. The settlement reduces her fine to $30,000, allowing her to keep her home. The case underscores concerns about the city's handling of rental advertising violations.

Housing Bill Enacted Amid Rising Costs in Various States

A new housing bill has been enacted in response to rising housing costs, which have been a concern in Democratic cities for years. The issue has also spread to conservative states like Idaho and Montana since the pandemic.

Housing Bill Passed Despite Initial Opposition

A new housing bill has been enacted following a significant rise in housing costs in various states. Initially opposed by some, the bill addresses the challenges of increasing rents and home prices that have emerged in both Democratic and conservative regions since the pandemic.

Comptroller Mark Levine Discusses Housing Supply Issues

Comptroller Mark Levine addressed the housing supply issue, highlighting the abundance of vacant apartments in rent-stabilized buildings. He attributed the vacancy to regulatory challenges faced by landlords.

New Federal Reserve Research Reveals Lower U.S. Homeownership Rate

A new study from the Federal Reserve Bank of Minneapolis reveals that only 53% of U.S. adults own homes, significantly lower than the traditional 65% figure. This research introduces the homeowners-to-population ratio (HPOP), which provides a clearer picture of homeownership by distinguishing between occupied homes and adult homeowners. The findings indicate that barriers to homeownership are increasing, particularly in states with high housing prices.

Nationwide Foreclosures Increase, Particularly in Florida

Foreclosure filings in the U.S. have risen by 71% from 2020 to 2025, with Florida having the highest rate per ZIP code. Economic challenges and rising costs are contributing factors, and homeowners of color are disproportionately affected. Experts advise those at risk of foreclosure to seek help from housing counselors.

Study Ranks Seattle Area Among Worst for First-Time Homebuyers Due to Rising Costs

A study from WalletHub has ranked the Seattle-Tacoma area as one of the most difficult regions for first-time homebuyers due to high housing costs. Seattle was ranked 204th and Tacoma 190th out of 300 cities. Local discussions reveal concerns over affordability, with average starter home prices reaching $535,000 as of February 2024.

HUD Secretary Critiques New York City's Housing Policies

Ben Carson, the Secretary of Housing and Urban Development, has criticized New York City's housing policies under Mayor Zohran Mamdani, claiming they could worsen affordability. Carson advocates for reducing regulations and encouraging private investment as a solution to the housing crisis, contrasting with Mamdani's focus on tenant protections and public investment. Mamdani's office did not provide a response to Carson's comments.

HUD Secretary Critiques New York City's Housing Policies

HUD Secretary [Name Turner] criticized New York City's housing policies, claiming they discourage investment and worsen affordability. He contrasted these policies with the Trump administration's approach, which focuses on reducing regulations and increasing housing supply. Mayor [Name Zohran Mamdani] has advocated for rent freezes and higher taxes to fund affordable housing, which Turner argues will not succeed.