#underbuild

[powerlinestructure]

[beardedmrbean]

A Nebraska lawmaker whose north Omaha district has struggled for years with a housing shortage is pushing a bill that, if passed, could make Nebraska the first in the country to forbid out-of-state hedge funds and other corporate entities from buying up single-family properties.

Sen. Justin Wayne’s bill echoes legislative efforts in other states and in Congress to curtail corporate amassing of single-family homes, which critics say has helped cause the price of homes, rent and real estate taxes to soar in recent years. Wayne said that has been the case in his district, where an Ohio corporation has bought more than 150 single-family homes in recent years — often pushing out individual homebuyers with all-cash offers. The company then rents out the homes.

Experts say the scarcity of homes for purchase can be blamed on a multitude of factors, including sky-high mortgage interest rates and years of underbuilding modest homes.

RISING RENT PRICES PUSH RECORD NUMBER OF AMERICANS TOWARD HOUSING CRISIS, PROMPTING LEGISLATIVE ACTION

Wayne's bill offers few specifics. It consists of a single sentence that says a corporation, hedge fund or other business may not buy single-family housing in Nebraska unless it's located in and its principal members live in Nebraska.

"The aim of this is to preserve Nebraska's limited existing housing stock for Nebraskans," Wayne said this week at a committee hearing where he presented the bill. "If we did this, we would be the first state in the country to take this issue seriously and address the problem."

A 14-page bill dubbed the End Hedge Fund Control of American Homes Act has been introduced in both chambers of Congress and would impose a 10-year deadline for hedge funds to sell off the single-family homes they own and, until they do, would saddle those investment trusts with hefty taxes. In turn, those tax penalties would be used to help people put down payments on the divested homes.

Democratic lawmakers in a number of other states have introduced similar bills, including in Minnesota, Indiana, North Carolina and Texas, but those bills have either stalled or failed.

The housing squeeze coming from out-of-state corporate interests isn't just an Omaha problem, said Wayne Mortensen, director of a Lincoln-based affordable housing developer called NeighborWorks Lincoln.

Mortensen said the recession of 2008 and, more recently, the economic downturn driven by the COVID-19 pandemic made single-family housing a more attractive corporate investment than bond markets.

"When that became the case, housing was commoditized and became just like trading any stock," he said. "Those outside investors are solely interested in how much value they can extract from the Lincoln housing market."

Those corporations often invest no upkeep in the homes, he said.

"And as a result of that, we're seeing incredible dilapidation and housing decline in many of our neighborhoods because of these absentee landlords that have no accountability to the local communities," Mortensen said.

Currently, about 13% of single-family homes in Lincoln are owned by out-of-state corporate firms, he said.

As in other states, Wayne's bill likely faces an uphill slog in the deep red state of Nebraska. At Monday's hearing before the Banking, Insurance and Commerce Committee, several Republican lawmakers acknowledged a statewide housing shortage, but they cast doubt on Wayne's solution.

"You know, you can set up shell companies, you set up different layers of ownership. You can move your domicile base. There's just a ton of workarounds here," Omaha Sen. Brad von Gillern said. "I also — as just as a pure capitalist — fundamentally oppose the idea."

[darkmaga-returns]

Authored by Jack Phillips via The Epoch Times (emphasis ours),

Speaking with NBC News on Thursday, the president-elect was asked about how much it would cost to carry out his deportation plan, which he made reference to numerous times during his presidential campaign.

“It’s not a question of a price tag,” Trump said, adding that “really, we have no choice.”

“When people have killed and murdered, when drug lords have destroyed countries. And now they’re going to go back to those countries because they’re not staying here. There is no price tag.”

His campaign had pledged to expel about 11 million people who are not authorized to be in the United States, although Trump himself has said he believes that as many as 21 million are in the country illegally.

“We obviously have to make the border strong and powerful, and we have to—at the same time, we want people to come into our country,” he said before signaling that the United States still needs legal immigrants.

“And you know, I’m not somebody that says, ‘No, you can’t come in.’ We want people to come in.”

Both Democrats and the nonprofit American Immigration Council have been critical of the mass deportation proposal, with the NGO estimating in a report that Trump’s plan may cost as much as $315 billion overall.

In campaign events and media appearances, both Trump and Vice President-elect JD Vance have said that Americans would see longstanding economic benefits from the deportation plan. During his only debate with Minnesota Gov. Tim Walz, Vance said that illegal immigrants are a reason why housing and rent prices have soared across the United States in recent years.

“Kicking out illegal immigrants who are competing for those homes” would help bring down housing costs, Vance said on Oct. 1.

Some economists have disagreed with Vance’s assertions, saying that the increase in housing prices stems from a long period of underbuilding in the United States due to land-use regulations.

But aside from the economic impact, Vance has argued that illegal immigration has devastated parts of the country, including places that are far from the U.S. border with Mexico. Illegal immigrants have overwhelmed schools, hospitals, and other systems across the United States, he’s said on several occasions, including during his debate with Walz, who was Vice President Kamala Harris’s running mate.

“In communities all across this country, you’ve got schools that are overwhelmed, you’ve got hospitals that are overwhelmed, you have got housing that is totally unaffordable because we brought in millions of illegal immigrants to compete with Americans for scarce homes,” Vance said in his lone debate.

Trump has vowed to invoke the Alien Enemies Act, a 1798 law signed by second President John Adams that allows the president to deport any noncitizen from a country the United States is at war with. He has spoken about deploying the National Guard, which can be activated on orders from a governor.

[zerogravityinq]

fuck it i wanna talk about bodies!

So Bruce is the closest to his comics canon counterpart - broad shoulders, thick chest, slim waist and narrow hips but thick thighs BUT he does run a bit slimmer than canon Bats does. Like about Pattison's build and gradually getting to how he is in Dan Mora size. I imagine he has longer legs and a relatively short torso in comparison. If this man doesn't wear like a thirty something in pants, i am suing. Like even though he is slimmer doesn't mean he isn't still bulky as fuck.

Harry is the biggest change from his canon counterpart. He has muscles. Not like huge ones because he just isn't genetically built like that but he is a lot more bottom heavy than top heavy. He's not really stocky because he isn't thick. He's very much a sleeper build. A lot of his muscle and weight is in his legs and it shows in his fighting since he's more kick heavy. Shorter legs but longer torso.

Babs, since the Killing Joke did not cripple her, is a lot more balanced. She isn't a crazy powerhouse but she can take a fight and turn it in her favor. She has a stealth build until she becomes a cop. Then she lets it be a bit more obvious she can take down a perp with little help. She has built legs but works to keep her body more balanced.

Dick is also pretty close to how he is in comics but his legs are a bit thicker from his years of broom flying or flying with Wixan. He has equally long legs and torso but he's still shorter than Bruce and Jason. Since he has a lot of mass in his shoulders and arms, he comes off as stocky. Has a pretty face but he wouldn't be able to pass as a girl once he hits puberty.

Tom is the tallest of the gotham vigilantes at 6 ft 6 and he's like 80% leg [jason insists that the other 20% is unadulterated spite but what does he know?] so he looks a lot leaner than he actually is. Like Harry, he just isn't built to bulk up but he is strong. if he puts on any kind of muscles, it is suprisingly in his shoulders and upper arms like Dick. Even when he was Voldemort he was relatively broad shouldered but now he is even more top heavy. He uses his legs a lot but more to extend his reach or to yank someone in range.

Cass is just as she is in canon so no notes. [kisses her forehead] you are perfect

Jason is one of the bigger changes - he isn't full of Lazurus roids and comes by his build honestly. He's a lot more balanced in his build, a complete all rounder since he does a little bit of everything. Most balanced body out of the Bats aside from Cass and maybe Babs.thick arms, legs, chest and he isn't as heavily scarred as his canon counterpart - magic heals a lot.

Jazz is far more muscular than her canon counterpart with her getting into training instead of just some martial arts lessons with her mother. She takes a lot more after Jack with his height and leans more bulky but not as say Jason or Bruce. Her hips are pretty wide though which she inherited from her mother and sometimes uses that to hip check goons and some of the skinnier villains [like Scarecrow and he gets so mad about that lmao].

Steph is pretty close to her canon counterpart. She is a bit more brawl heavy than she is in canon and is more likely to use her feet than her hands since she needs her hands to do medic things. Aside from that, pretty much the same.

Conner, by virtue of being an imperfect clone, is also different. He does have the underbuild of Clark but he's thinner and more lanky like Harry. Also he actually trains and spars like the rest of the Bats so he can fight more efficiently [Bruce uses Conner as an example as to why Clark should train without his powers much to Clark's chagrin] and he easily can fight even without his pwoers or magic. Magically speaking he isn't the most powerful but he can tank a lot of damage and do some neat things because of it - like apparate silently or to space.

Tim is also different. He is closer in build to his Batman Beyond version by virtue of the joker jr incident. He was in similar build to Harry but a lot of that waned when he took over as Oracle. He has some muscle mass left but he turned that into being fast and agile instead and isn't the main one in the fight.

Damian is a lot heavier than his canon counterpart by virtue of having a different mother. He grows fast and his affinity for Bruce's build is apparent early. Big chest and toned legs once he's of age. He's shorter than Bruce but isn't a bad height at 6 ft 2. His muscles shift from agilty to strength once he retires from being a vigilante and becomes a magizoologist full time. Unlike his peers he's far more hands on, wrangling creatures instead of just trying to magic them.

Terry takes more after Harry thus grows to be lanky and about Damian's height give or take an inch. He looks a lot like Terry McGinnis despite being raised by Bruce because genetically he is like Harry. He doesn't put on muscle too heavy and thus he is a far more agile Batman than Bruce was but not as top heavy and bulky as Nightwing. Pretty leggy and has a shorter torso much like Bruce.

Lilith is somewhere in between Martha Wayne [classic hourglass] and Lily Potter [a bit lanky but bottom heavy]. She has muscle mass from training and ghost fighting but that puts her more or less in the same group as cass - not obviously a fighter but totally will rock the shit out of you. Older she is move obviously muscular as High Crown Princess.

Danny takes a lot after Bruce, he looks more like a clone than Terry does. When he gets his memories back, he has a bit of body dysmorphia because he doesn't look too far off from Dark Danny did in that evil timeline. Harry points out that his coloring is different and his muscles are from training and genetics not, you know, murdering the world. He eventually settles down with it.

[unitedstatesrei]

Current U.S. Housing Market Presents Challenges for Homebuyers

Key Takeaways High mortgage rates are reducing affordability for potential homebuyers across the U.S. Low housing inventory and persistent price increases are shutting out many buyers. Rising rents and stagnant income growth are making the crisis worse for renters and buyers alike. Mounting Obstacles for Today’s Homebuyers The American dream is slipping away on Main Street and beneath Hollywood’s neon lights. Spiraling mortgage rates—lingering near 6.6%—are crushing affordability. Inventory sits painfully low, even as speculative new builds rise, leaving would-be buyers boxed out coast to coast. Home prices refuse to budge, incomes lag behind, and renters face rents marching ever upward. The crisis is deepening fast. The risks now haunting every open house will only loom larger ahead. Why has the American dream of homeownership become so unreachable for millions? U.S. Housing Affordability Crisis Deepens As the shadow of a housing crisis stretches from the canyons of New York’s skyline to the sun-baked freeways of Los Angeles, the U.S. real estate market teeters on the brink. Every corner of the nation, from San Francisco’s Bay Bridge to Chicago’s Loop, feels the squeeze of escalating housing woes. Rising mortgage rates have become a true menace, peaking at 7.04% in early 2025, now hovering near 6.6%, and each uptick shatters housing affordability for would-be buyers. Monthly payments skyrocket, with high rates locking out first-time buyers and pushing existing homeowners to stay put, fueling a cycle of stagnation. Are enough homes even available for America’s families? National housing inventory remains beneath historic norms, even as supply has ticked up, offering little relief for the market’s pent-up demand. Single-family homes for sale have jumped 20% year-over-year but remain at levels that still recall the market’s tightest moments on record. Builders in places like Austin’s ever-expanding suburbs have flooded the market with new and speculative homes, hitting numbers not seen since the 2007 and 2008 crashes—yet the gulf between what is needed and what is available remains vast. With more than 481,000 new homes for sale nationally and 385,000 speculative builds, supply is up, but still lags years of underbuilding and growing population pressure. Despite the increase, the overall housing shortage has not notably improved due to both suppressed demand and structural factors like the lock-in effect and restrictive zoning. Can Americans even afford to pursue homeownership, or is hope itself in short supply? Existing home sales tell a bleak story—levels haven’t been this low in nearly thirty years, with 86% of renters stating that buying is simply out of reach. Incomes fail to keep pace as prices stay sky-high, especially for those eyeing the keys to their first place, whether in a Seattle Craftsman or a Miami condo. Even as projections for home price growth show a subdued 3% rise or less in 2025, affordability remains broken, driven by tight supply and relentless demand for shelter across the nation. The chasm is deepening: a shortfall of up to 5 million homes in 2023, according to experts, and rents keep soaring, pushing more hard-working Americans toward the edge, sometimes into homelessness, up a stunning 18% year-over-year. Economic uncertainty poisons the well, with job anxiety and inflation eroding confidence from Brooklyn street fairs to small towns in Missouri. Policy shocks and volatile conditions stir more market fear, while buyers and sellers sit paralyzed, letting opportunity slip away—waiting, watching, hoping for something to break the cycle. Local icons like the Hollywood sign or Boston’s North End see rising displacement and overcrowding, squeezing out communities and intensifying the misery. The political stakes climb higher, with angry voters making housing a make-or-break issue at the polls, while policy fixes move at a snail’s pace. Forecasts remain grim: Experts see little hope for major improvements in 2025.

Stagnant sales, stuck affordability, and a persistent sense of crisis threaten to become the new normal in this American housing nightmare. For a breakdown of how this crisis intersects with the insurance market and housing finance failures, read how insurance disasters are devastating U.S. homebuyers. Assessment The current U.S. housing market is giving homebuyers plenty to think about, as Wall Street feels the ripple effects from coast to coast. Sky-high prices and shrinking inventory are making it harder for people from Dallas’ Deep Ellum to LA’s Miracle Mile to land a place of their own. Anyone looking to buy or invest is up against a market that just keeps tightening, and climbing interest rates aren’t making things any easier. Is now the time to wait—or will waiting mean getting permanently priced out? It’s no wonder folks are wondering if they can afford to wait much longer—or if waiting means missing out entirely. These days, the risks seem to outweigh the rewards, and sitting on the sidelines could mean getting left behind. If you’re debating your next step, don’t let the market make the decision for you—reach out to a real estate expert and start building your plan today.

[dkaufmandevelopment]

After the Fires: How Wildfire Displacement Is Rewriting Rent Dynamics in Greater Los Angeles

By Kaufman Development

In the wake of devastating wildfires earlier this year, Los Angeles and Ventura counties are seeing a noticeable—and in some submarkets, dramatic—uptick in residential rents. While seasonal rent bumps are nothing new, this surge is different. It’s driven not by macroeconomic trends or market speculation, but by a sudden shock to housing supply that’s pushing displaced residents into already tight rental markets.

According to recent data, average rents in 16 fire-adjacent communities rose 2.4% in the last quarter alone—five times the rate seen in the same period last year. In cities like Thousand Oaks, Pasadena, and Santa Monica, the jumps were even more pronounced, ranging from 4% to 6% in just a few months.

“As a developer and a resident of Los Angeles, I’ve seen how fragile our housing ecosystem is,” says Daniel Kaufman, President of Kaufman Development. “When you take 12,000 homes off the grid overnight due to wildfires, it sends shockwaves through the entire region. Families need places to go—and the supply simply isn’t there.”

High-Pressure Zones: Where the Demand Hits Hardest

Thousand Oaks saw the steepest climb, with rents jumping 6.1% last quarter, pushing the median rate to nearly $2,900. Pasadena and Santa Monica followed closely, each seeing over 4% growth in a quarter that typically trends flat or even down in those cities.

Even within the Los Angeles city limits—where rent growth has been sluggish over the past year—momentum is building. The city clocked a 1.4% gain in Q1, up from a mere 0.1% last year.

“This isn’t rent gouging. It’s absorption,” Kaufman says. “We’re watching a wave of demand sweep across the region, and landlords are adjusting to a very real, very immediate imbalance between units and need.”

Supply Shock, Not Speculation

Industry analysts, including ApartmentList, have noted that while the increases may feel steep, there’s no evidence of opportunistic pricing. Instead, it’s a classic supply-and-demand mismatch. The fires destroyed thousands of homes—many of them owner-occupied—leaving families scrambling for temporary or long-term rentals in nearby markets.

And when those markets are already supply-constrained, even a modest surge in demand has exponential impacts.

California as a Case Study in Fragile Housing Resilience

Statewide, rents climbed 1.7% in Q1 to $1,884. Nationally, the increase was a more modest 0.8%. These numbers put California—and especially Southern California—in sharp relief. In high-demand urban zones, local disasters don’t just create short-term disruptions. They accelerate deeper systemic problems already in motion.

“We’re not just dealing with fire damage,” Kaufman notes. “We’re dealing with underbuilding, entitlement gridlock, labor shortages, and financing friction. The fires lit the fuse, but the powder keg was already in place.”

The Path Forward for Investors and Developers

For developers and investors, the implications are significant. In a region where demand is near-permanent but development timelines are long and costly, opportunities lie in anticipating these dislocations—whether caused by natural disasters, policy shifts, or broader demographic pressures.

Kaufman concludes, “It’s never just about one event. It’s about resilience, preparation, and building product that serves real housing needs. If we do that—and do it at scale—we don’t just respond to crises. We future-proof communities.”

[anitarich]

The Truth About Newly Built Homes and Today’s Market

Headlines are talking about the inventory of new homes and how we’re back at the levels not seen since 2009. And maybe you’re reading that and thinking: oh no, here we go again. That’s because you remember the housing crash of the late 2000s and you’re worried we’re repeating the same mistakes. But before you let fear take hold, remember: headlines are designed to be clickbait. And a lot of the time, they do more to terrify than clarify. That’s because they don’t always give you all the context you need. So, let’s take a step back and look at what the data really says. Why This Isn’t Like 2008 While it’s true the number of new homes on the market has reached its highest level since 2009, that’s not a cause for alarm. Here’s the context that matters most. When the data is turned into a graph, it’s clear the amount seen in 2009 wasn’t the peak of oversupply – not even close. That high point came earlier in 2007-2008. If anything, 2009 was when the number of new homes being built was really starting to slide back down (see graph below):

The overbuilding that contributed to the housing crash happened in the years leading up to 2008. Not in 2009. At that point, construction was already slowing down. So, saying we’ve hit 2009 levels isn't the same thing as saying we’re overbuilding like we did the last time. Builders Have Actually Underbuilt for Over a Decade Here’s some more data to prove it to you. After the crash, builders pulled production way back. As a result, they built far fewer homes than the market needed. And that was a consistent problem that lasted for over a decade. That long stretch of underbuilding created a major housing shortage, which is still a challenge today. The graph below uses Census data to show the number of new homes built each year over the past 52 years. You can clearly see the overbuilding leading up to the crash (in red), the period of underbuilding that followed (in orange), and how we’re only now getting back to a more normal level of construction:

Today’s situation is different. Builders aren’t overbuilding – they’re catching up. In a recent article, Odeta Kushi, Deputy Chief Economist at First American, highlights this deficit and speaks to why the recent ramp-up in construction is actually good for today’s market, especially buyers: “This means more homes on the market and more options for home buyers, which is good news for a housing market that has been underbuilt for over a decade.” Of course, like anything else in real estate, the level of supply and demand will vary by market. Some markets may have more newly built homes, some less. But, nationally, there’s nothing to worry about. This isn’t like the last time. The Takeaway No matter what you’re reading or seeing, the growing number of newly built homes on the market isn’t a red flag nationally – it's a sign builders are starting to make up for years of underbuilding. If you want to talk about what’s happening in our market, let’s connect.   THE RICH GROUP (818) 632-2258 Anita Rich - Michael Persh anitaisrich@gmail.com DRE#02067686 https://therichgroup.la https://linktr.ee/anitarich

          Keller Williams 12711 Ventura Blvd., #110 Studio City, CA 91604 #luxuryrealtor #realestatebroker #anitarich Read the full article

[the-lambs]

The Truth About Newly Built Homes and Today’s Market

Headlines are talking about the inventory of new homes and how we’re back at the levels not seen since 2009. And maybe you’re reading that and thinking: oh no, here we go again. That’s because you remember the housing crash of the late 2000s and you’re worried we’re repeating the same mistakes. But before you let fear take hold, remember: headlines are designed to be clickbait. And a lot of the time, they do more to terrify than clarify. That’s because they don’t always give you all the context you need. So, let’s take a step back and look at what the data really says. Why This Isn’t Like 2008 While it’s true the number of new homes on the market has reached its highest level since 2009, that’s not a cause for alarm. Here’s the context that matters most. When the data is turned into a graph, it’s clear the amount seen in 2009 wasn’t the peak of oversupply – not even close. That high point came earlier in 2007-2008. If anything, 2009 was when the number of new homes being built was really starting to slide back down (see graph below):

The overbuilding that contributed to the housing crash happened in the years leading up to 2008. Not in 2009. At that point, construction was already slowing down. So, saying we’ve hit 2009 levels isn't the same thing as saying we’re overbuilding like we did the last time. Builders Have Actually Underbuilt for Over a Decade Here’s some more data to prove it to you. After the crash, builders pulled production way back. As a result, they built far fewer homes than the market needed. And that was a consistent problem that lasted for over a decade. That long stretch of underbuilding created a major housing shortage, which is still a challenge today. The graph below uses Census data to show the number of new homes built each year over the past 52 years. You can clearly see the overbuilding leading up to the crash (in red), the period of underbuilding that followed (in orange), and how we’re only now getting back to a more normal level of construction:

Today’s situation is different. Builders aren’t overbuilding – they’re catching up. In a recent article, Odeta Kushi, Deputy Chief Economist at First American, highlights this deficit and speaks to why the recent ramp-up in construction is actually good for today’s market, especially buyers: “This means more homes on the market and more options for home buyers, which is good news for a housing market that has been underbuilt for over a decade.” Of course, like anything else in real estate, the level of supply and demand will vary by market. Some markets may have more newly built homes, some less. But, nationally, there’s nothing to worry about. This isn’t like the last time. The Takeaway No matter what you’re reading or seeing, the growing number of newly built homes on the market isn’t a red flag nationally – it's a sign builders are starting to make up for years of underbuilding. If you want to talk about what’s happening in our market, let’s connect. RE# SP57698 | AB 57988 Silvercreek Realty Group (208) 406-8424 chucklamb@chucklamb.com renee.lambre@gmail.com https://eagleidahohomesales.com/ https://realestateinstaridaho.com/ https://linktr.ee/reneelamb

  Read the full article

[realestateman02]

No matter what you’re reading or seeing, the growing number of newly built homes on the market isn’t a red flag nationally – it's a sign builders are starting to make up for years of underbuilding. If you want to talk about what’s happening in your market, connect with usl

ExpertAnswers #Inventory #KeepingCurrentMatters

[powerlinestructure]

[nsrealestate]

The Truth About Newly Built Homes and Today’s Market

Headlines are talking about the inventory of new homes and how we’re back at the levels not seen since 2009. And maybe you’re reading that and thinking: oh no, here we go again. That’s because you remember the housing crash of the late 2000s and you’re worried we’re repeating the same mistakes.

But before you let fear take hold, remember: headlines are designed to be clickbait. And a lot of the time, they do more to terrify than clarify. That’s because they don’t always give you all the context you need. So, let’s take a step back and look at what the data really says.

Why This Isn’t Like 2008

While it’s true the number of new homes on the market has reached its highest level since 2009, that’s not a cause for alarm.

Here’s the context that matters most. When the data is turned into a graph, it’s clear the amount seen in 2009 wasn’t the peak of oversupply – not even close. That high point came earlier in 2007-2008. If anything, 2009 was when the number of new homes being built was really starting to slide back down (see graph below):

The overbuilding that contributed to the housing crash happened in the years leading up to 2008. Not in 2009. At that point, construction was already slowing down. So, saying we’ve hit 2009 levels isn't the same thing as saying we’re overbuilding like we did the last time.

Builders Have Actually Underbuilt for Over a Decade

Here’s some more data to prove it to you. After the crash, builders pulled production way back. As a result, they built far fewer homes than the market needed. And that was a consistent problem that lasted for over a decade. That long stretch of underbuilding created a major housing shortage, which is still a challenge today.

The graph below uses Census data to show the number of new homes built each year over the past 52 years. You can clearly see the overbuilding leading up to the crash (in red), the period of underbuilding that followed (in orange), and how we’re only now getting back to a more normal level of construction:

Today’s situation is different. Builders aren’t overbuilding – they’re catching up.

In a recent article, Odeta Kushi, Deputy Chief Economist at First American, highlights this deficit and speaks to why the recent ramp-up in construction is actually good for today’s market, especially buyers:

“This means more homes on the market and more options for home buyers, which is good news for a housing market that has been underbuilt for over a decade.”

Of course, like anything else in real estate, the level of supply and demand will vary by market. Some markets may have more newly built homes, some less. But, nationally, there’s nothing to worry about. This isn’t like the last time.

Bottom Line

No matter what you’re reading or seeing, the growing number of newly built homes on the market isn’t a red flag nationally – it's a sign builders are starting to make up for years of underbuilding. If you want to talk about what’s happening in our market, let’s connect.

[thelistingteammiami]

The Truth About Newly Built Homes and Today’s Market

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The Truth About Newly Built Homes and Today’s Market

The Truth About Newly Built Homes and Today’s Market

Headlines are talking about the inventory of new homes and how we’re back at the levels not seen since 2009. And maybe you’re reading that and thinking: oh no, here we go again. That’s because you remember the housing crash of the late 2000s and you’re worried we’re repeating the same mistakes.

But before you let fear take hold, remember: headlines are designed to be clickbait. And a lot of the time, they do more to terrify than clarify. That’s because they don’t always give you all the context you need. So, let’s take a step back and look at what the data really says.'

Why This Isn’t Like 2008

While it’s true the number of new homes on the market has reached its highest level since 2009, that’s not a cause for alarm.

Here’s the context that matters most. When the data is turned into a graph, it’s clear the amount seen in 2009 wasn’t the peak of oversupply – not even close. That high point came earlier in 2007-2008. If anything, 2009 was when the number of new homes being built was really starting to slide back down (see graph below):

The overbuilding that contributed to the housing crash happened in the years leading up to 2008. Not in 2009. At that point, construction was already slowing down. So, saying we’ve hit 2009 levels isn't the same thing as saying we’re overbuilding like we did the last time.

Builders Have Actually Underbuilt for Over a Decade

Here’s some more data to prove it to you. After the crash, builders pulled production way back. As a result, they built far fewer homes than the market needed. And that was a consistent problem that lasted for over a decade. That long stretch of underbuilding created a major housing shortage, which is still a challenge today.

The graph below uses Census data to show the number of new homes built each year over the past 52 years. You can clearly see the overbuilding leading up to the crash (in red), the period of underbuilding that followed (in orange), and how we’re only now getting back to a more normal level of construction:

Today’s situation is different. Builders aren’t overbuilding – they’re catching up.

In a recent article, Odeta Kushi, Deputy Chief Economist at First American, highlights this deficit and speaks to why the recent ramp-up in construction is actually good for today’s market, especially buyers:

“This means more homes on the market and more options for home buyers, which is good news for a housing market that has been underbuilt for over a decade.”

Of course, like anything else in real estate, the level of supply and demand will vary by market. Some markets may have more newly built homes, some less. But, nationally, there’s nothing to worry about. This isn’t like the last time.

Bottom Line

No matter what you’re reading or seeing, the growing number of newly built homes on the market isn’t a red flag nationally – it's a sign builders are starting to make up for years of underbuilding. If you want to talk about what’s happening in our market, let’s connect.

[unlikelykittenwhispers]

Mortgage rates tumble on tariffs, but housing costs still near record high

Mortgage rates fell sharply Thursday following the Trump administration’s tariff announcement.

The average rate on the popular 30-year fixed loan plunged 12 basis points to 6.63%, according to Mortgage News Daily. That put it at the lowest level since October.

The massive sell-off in the stock market early Thursday sent investors fleeing to the bond market. That caused bond yields to drop. Mortgage rates loosely follow the yield on the 10-year U.S. Treasury, and they had been moving in a very narrow range since late February.

“While plenty of uncertainty remains over the finer points of Wednesday afternoon’s tariff announcement, markets have heard enough to brace for impact on global trade,” wrote Matthew Graham, chief operating officer at Mortgage News Daily.

The drop in rates comes at a good time for the housing market, as the historically busy spring season kicks into gear. But there are several other factors working against buyers and hitting home affordability hard.

For the four weeks ending March 30, the typical U.S. homebuyer’s monthly payment hit a record high for the second week in a row, reaching $2,802, according to Redfin, a real estate brokerage.

“Sale prices are up 3.4% year over year, and the weekly average mortgage rate is 6.65%, near its lowest level since December but more than double pandemic-era lows,” according to the report.

Even with a slight drop in mortgage rates Thursday, roughly 70% of households, or 94 million, cannot afford a $400,000 home; the estimated median price of a new home is around $460,000 in 2025, according to the National Association of Home Builders. This calculation was based on income thresholds and underwriting standards.

The minimum income required to purchase a $200,000 home at the mortgage rate of 6.5% is $61,487, according to the report. In 2025, about 52.87 million households in the U.S. are estimated to have incomes no more than that threshold and, therefore, can only afford to buy homes priced up to $200,000.

While there is a growing supply of homes coming onto the market, that supply is not at the price point where it is most in demand, meaning, it’s not on the lower end. It is also, in general, far lower than it has been historically, due to chronic underbuilding since the Great Recession.

“Supply is picking up; a lot of people I’ve spoken to over the last year or two are calling, saying they’re ready to list their house,” said Matt Ferris, a Redfin agent in northern Virginia. “Some believe we’re at the top of the market, and they want to get top dollar for their house. Here in the D.C. area, some people are selling because they’re worried about losing their government job, or because they want to buy closer to the city due to in-office policies.”

As for the spring season so far, March saw a 10% annual jump in new listings, with active listings up roughly 28% year over year, according to Realtor.com. But it also found homes sitting on the market longer and the share of listings with price reductions rising. Pending sales, which are signed contracts on existing homes, fell 5.2% from last March in the nation’s largest metropolitan areas. 

Some of the steepest declines were in Jacksonville, Florida, and Miami, Florida — down 15.1% and down 13.7%, respectively — where the markets have been softening due in part to reverse pandemic migration. Virginia Beach, Virginia, saw a 14.2% decline.

“The high cost of buying coupled with growing economic concerns suggest a sluggish response from buyers in early spring. We’re seeing a market that’s rebalancing, offering more choices for shoppers,” Danielle Hale, chief economist for Realtor.com, wrote in a release. “Recent improvements in mortgage rates bode well for the later spring and early-summer housing season, as long as economic concerns settle and don’t knock buyers off course.”

[28northgroup]

Buyer Bright Spot: There Are More Homes on the Market

The past few years have been challenging for homebuyers, especially with higher home prices and mortgage rates. And if you’re trying to buy a home, it’s easy to worry you won’t be able to find something in your budget.

But here’s what you need to know. The number of homes for sale has grown a whole lot lately and that’s true for both existing (previously lived-in) and newly built homes. Here’s a look at those two bright spots for buyers right now and why they may make it a bit easier to find the home you’re been looking for.

1. There Are 22% More Existing Homes for Sale

Data from Realtor.com says the number of existing homes for sale improved by an impressive 22% in 2024. And experts say your pool of options is expected to get even better this year. Forecasts show inventory is projected to grow another 11-15% by the end of this year (see graph below):

Here’s why this is so good for your search. If you haven’t seen a house with all the features you need, just know that, as the number of homes for sale grows, you’ll have more options to choose from. That means a better chance of finding a home that checks all your boxes. As Ralph McLaughlin, Senior Economist at Realtor.com, says:

“It could be a particularly good time to get out into the market . . . you’re going to have more choice. And that’s not something that buyers have really had much over the past several years.”

2. There Are More Newly Built Homes on the Market

According to data from the Census and the National Association of Realtors (NAR), 31.1%, or roughly 1 in 3, homes on the market right now are newly built homes. That’s more than the norm (see charts below). But don’t worry, that’s not because builders are overdoing it – it’s just that they’re trying to catch up after years of underbuilding.

And the best part is, since builders have been focusing on smaller homes with lower price points, you may actually find out new builds are less expensive than you’d expect. So, while a lot of people write off new construction because it’s easy to assume the costs are way higher, lately, that price gap isn’t as big as you’d think. As CNET says:

“If you live in an area where there’s a lot of new construction happening . . . you might be able to purchase a new house for a price similar to or even less than a pre-owned one.”

If you haven’t been able to find a home that’s in your budget, it’s time to ask your agent about new builds. If you don’t, you may have been cutting your pool of options by about a third.

Bottom Line

More choices could be the key to unlocking your homebuying goals in 2025. Talk to a local agent if you want to see what’s available in your area.

What features are you looking for in your next home? Let an advisor know so they can put together a list of homes you’d love.

[bonastudios]

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[thetranscript]

the structural shortage of housing due to underbuilding, ever-increasing land entitlement challenges and ongoing labor availability challenges together with our expectation for continuing lower resale transactions due to a higher for longer rate environment leads us to believe that new home supply will continue to be absorbed without a significant increase in standing inventory.

PulteGroup Inc. (PHM) Q4 2024 Earnings Call Transcript

The U.S. housing market remains structurally undersupplied #Housing