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Tag: Housing Market

Trump’s Capital Gains Tax Proposal Prompts Homeowners to Delay Sales Amid Housing Crunch

Trump’s Capital Gains Tax Proposal Prompts Homeowners to Delay Sales Amid Housing Crunch

Trump’s Capital Gains Tax Proposal Prompts Homeowners to Delay Sales Amid Housing Crunch President Donald Trump’s recent statement about potentially eliminating the capital gains tax on home sales is causing a stir among homeowners, with some now delaying property listings in anticipation of a significant tax cut. The proposal, aimed at boosting housing inventory amidst high interest rates, comes as bipartisan efforts in Congress are already underway to reform the existing tax. Many older Americans, like Joel Friedman, 71, and…

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Housing Market Plunges: Economist Issues ‘Red Flare’ as Builders Retreat

Housing Market Plunges: Economist Issues ‘Red Flare’ as Builders Retreat

Housing Market Plunges: Economist Issues ‘Red Flare’ as Builders Retreat The U.S. housing market is flashing a stark “red flare,” with a rapid deterioration now poised to significantly drag down overall economic growth, according to Moody’s Analytics chief economist Mark Zandi. Just weeks after his initial “yellow flare” warning, Zandi asserts that unless mortgage rates substantially decline from their current near-7% levels, home sales, new construction, and prices are set for a steep slump. Recent data paints a grim picture:…

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Housing Market Nears Crisis Point as Economist Issues “Red Flare” Warning

Housing Market Nears Crisis Point as Economist Issues “Red Flare” Warning

Housing Market Nears Crisis Point as Economist Issues “Red Flare” Warning The U.S. housing market is rapidly deteriorating, prompting Moody’s Analytics chief economist Mark Zandi to issue a stark “red flare” warning, indicating a significant drag on overall economic growth. Just weeks after his initial “yellow flare,” Zandi now believes the outlook has worsened considerably. In recent analyses, Zandi emphasized that a substantial decline in mortgage rates from their current near-7% levels is crucial to prevent a slump in home…

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Slowdown in US Existing Home Sales Continues Through May 2024

Slowdown in US Existing Home Sales Continues Through May 2024

Slowdown in US Existing Home Sales Continues Through May 2024 Existing home sales in the United States continued their downward trend in May 2024, marking the slowest May for sales since 2009. According to the National Association of Realtors (NAR), existing home sales in May fell 0.7% compared to May 2023. While sales saw a slight 0.8% monthly increase from April, this followed the slowest April for existing home sales in 16 years. In March, sales fell 5.9 percent to…

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