Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li><keyword id="15641" type="COMPANY" weightage="100" keywordseo="Miami">Miami</keyword> leads the US in <keyword id="6500467" type="UNKNOWN" weightage="60" keywordseo="mortgage">mortgage</keyword> <keyword id="137104" type="PERSON" weightage="60" keywordseo="delinquencies">delinquencies</keyword> for the top 10 metropolitan areas, with roughly 14% of mortgage payers in the city behind 30 days or more in payments.</li><li>Nationwide, 7.3% of mortgages were in some stage of delinquency, up from 3.9% last year.</li><li>Government stimulus packages have helped keep mortgage payers on track, but with no guarantee of a new stimulus package in the near future, more payers could default. </li></ul>Miami leads the US in mortgage delinquencies for the top 10 metropolitan areas, <a href="https://www.corelogic.com/news/clouds-on-the-horizon-for-many-u.s.-homeowners-overall-delinquency-rates-beginning-to-climb.aspx?WT.mc_id=twtr_200811_A7IJF?utm_source=social&amp;utm_medium=org&amp;utm_campaign=twpaign=tw">as reported by CoreLogic </a>on Tuesday in their monthly loan performance findings. Roughly 14% of mortage payers in the city were behind 30 days or more in payments.<keyword id="6355838" type="LOCATION" weightage="60" keywordseo="new-york">New York</keyword> and <keyword id="2390" type="COMPANY" weightage="60" keywordseo="Las-Vegas">Las Vegas</keyword> took the No. 2 and 3 spot with 12% and 10%, respectively."The national <keyword id="6358907" type="UNKNOWN" weightage="60" keywordseo="unemployment">unemployment</keyword> rate soared from a 50-year low in February 2020, to an 80-year high in April," <keyword id="353378" type="PERSON" weightage="60" keywordseo="Frank-Nothaft">Frank Nothaft</keyword>, chief economist at <keyword id="327107" type="COMPANY" weightage="60" keywordseo="CoreLogic">CoreLogic</keyword>, said in the report. "With the sudden loss of income, many homeowners are struggling to stay on top of their mortgage loans, resulting in a jump in non-payment." Metropolitan areas have been thoroughly impacted by the pandemic and its subsequent shutdowns, with "restaurants, bars and hotel workers [hit] especially hard," according to the report. Nationwide, 7.3% of mortgages were in some stage of delinquency, up from 3.9% last year.While <a href="https://www.businessinsider.com/july-jobs-report-economy-adds-million-jobs-unemployment-declines-2020-8">unemployment is at 10%</a> as states attempt to reopen, rates are still higher than average. A huge factor in preventing more mortgage payers from defaulting were stimulus checks and the $600 unemployment benefit, which lapsed at the end of July. If Congress doesn't reach a deal by Friday, this could mean more mortgage payers could default in the future. "Government and industry relief programs have helped to cushion the initial financial blow of the pandemic for millions of U.S. homeowners," said <keyword id="9747766" type="UNKNOWN" weightage="60" keywordseo="frank-martell">Frank Martell</keyword>, president and CEO of CoreLogic. "COVID-19 and the resulting pressures continue to influence the economic activity of many households. Barring additional intervention from the Federal and State governments, we are likely to see meaningful spikes in delinquencies over the short to medium term."You can read the full report from CoreLogic <a href="https://www.corelogic.com/insights/loan-performance-insights-report.aspx">right here</a>.

Miami and New York top the US in mortgage delinquencies as rates rise in all 50 states

<ul class="summary-list"><li>Beyoncé's new album "Cowboy Carter" is framed as songs playing on a fictional country radio station.</li><li>Black artists making country music (including Beyoncé) have historically been denied radio play.</li></ul>Six songs into "Cowboy Carter," Beyoncé disappears.Grainy burps of music by Sister Rosetta Tharpe, Chuck Berry, and Roy Hamilton emerge from the static, mimicking someone twiddling with the dial of an old AM radio.Suddenly, the spark of a lighter, a gentle exhale. Willie Nelson's familiar, worn-in voice introduces the album's central conceit: "Welcome to 'The Smoke Hour' on KNTRY Radio Texas. You know my name, no need to know yours."Beyoncé's new album, which arrived on Friday, <a target="_blank" href="https://www.businessinsider.com/beyonce-cowboy-carter-album-reviews-what-critics-are-saying-2024-3">is a multifaceted masterpiece</a>: It's a voyage through country music's history and a kaleidoscopic vision for its future, an ode to Beyoncé's Southern roots and matriarchal lineage, and a series of outlaw tales and Western epics in sonic form.But most explicitly, "Cowboy Carter" is a direct reaction to the treatment Black artists have received in Nashville, including the author herself.Beyoncé, a native Texan, <a target="_blank" href="https://www.businessinsider.com/beyonce-renaissance-act-2-new-album-release-date-tracklist">said as much in the album's prologue</a>. "It was born out of an experience that I had years ago where I did not feel welcomed…and it was very clear that I wasn't," she wrote on Instagram. "The criticisms I faced when I first entered this genre forced me to propel past the limitations that were put on me."Beyoncé reinforces this point by framing the album as a fictional country radio station, sequenced and tweaked to her own liking.Nelson is joined on the tracklist by Dolly Parton and <a target="_blank" href="https://www.rollingstone.com/music/music-features/linda-martell-black-country-grand-ole-opry-pioneer-1050432/">Linda Martell</a>, the first Black woman to find commercial success in country music with her 1970 album "Color Me Country." They take turns emerging via spoken-word interludes, offering wisdom and introducing tracks as surrogate radio DJs.Of course, this isn't a unique concept. Artists like The Who ("The Who Sell Out"), De La Soul ("De La Soul Is Dead"), The Weeknd ("Dawn FM"), and Jon Batiste ("World Music Radio") have all released albums with similar frameworks.However, the "Cowboy Carter" prologue illuminates the allusive layers at work in KNTRY Radio Texas.The criticisms and limitations that Beyoncé described are nothing new in Nashville, a notoriously insular establishment that tends to be wary of outsiders — a label that's often erroneously applied, as a blanket, to artists of color.While anyone can upload music to YouTube or Spotify — and TikTok has helped <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://www.businessinsider.com/how-tiktok-is-changing-music-industry">democratize the power</a> to crown a hit song — certain executives still hold the keys to TV opportunities, award show invites, and, crucially, radio spins. By and large, these keys become tools of marginalization. According to a <a target="_blank" href="https://www.billboard.com/pro/black-country-music-airplay-bipoc-artists-songdata-study/">SongData study</a> published in 2021, roughly 98% of the music on country radio is performed by white artists.Even a commercial giant like Queen Bey has been met with resistance. When "Texas Hold 'Em" was released as the lead single for "Cowboy Carter," it was rejected by local Southern radio stations; it wasn't until members of the Beyhive <a target="_blank" href="https://www.businessinsider.com/beyonces-country-music-battle-explained-texas-hold-em-oklahoma-2024-2">swarmed with requests and online call-outs</a> that country DJs acquiesced.<a target="_blank" href="https://www.businessinsider.com/beyonce-country-album-black-artists-reactions-shaboozey-tanner-adell-2024-3">Across several interviews I conducted with Black country musicians this month</a>, there was one dominant throughline: the elusivity of airplay."What country radio typically says to artists like myself is, 'This isn't country,'" singer-songwriter and producer Breland explained to BI. "Even when it is undeniably country. That's what they'll say as an easy way of not wanting to play it."Shaboozey said he feels like an "outlier" in the industry. Tanner Adell said she struggles to feel "palatable." Tiera Kennedy said country fans tend to conflate "traditional" with "white."By contrast, those three artists are more than welcome on Beyoncé's airwaves.Shaboozey is featured on "<a target="_blank" href="https://youtu.be/MxNMvZ5BhSU?si=BFn4gPzq0I0XpPSP">Spaghettii</a>" and "<a target="_blank" href="https://youtu.be/9DIBZX_v0-U?si=vM6BUmTvOZoklcio">Sweet Honey Buckin</a>," while Adell and Kennedy lend their vocals to "<a target="_blank" href="https://youtu.be/xhempeEjGUA?si=4QQf6qWbLdMaBNiV">Blackbiird</a>."By structuring her album in this way — and recruiting country legends like Nelson, Parton, and Martell to cosign the strategy — Beyoncé doesn't simply beat the gatekeepers at their own game. She side-steps the gate entirely.If "Cowboy Carter" emulates the massive <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.billboard.com/music/chart-beat/beyonce-renaissance-billboard-200-debut-no-1-1235123568/">vinyl sales and streaming numbers</a> of "Renaissance," Beyoncé will appear on the charts next week, bringing Shaboozey, Adell, Kennedy, and the rest of her collaborators to a wider audience.Perhaps twangy bops like "<a target="_blank" href="https://youtu.be/7HV_Rv858YM?si=ajur5lWAhf9NokSe">Bodyguard</a>," "<a target="_blank" href="https://youtu.be/x9XHMK3nWr4?si=UbFFHDrwPSIsiUkv">Jolene</a>," and "<a target="_blank" href="https://youtu.be/AO8oJ1OHLHU?si=YobLWpdxf-Px-kXj">Riiverdance</a>" will also join "Texas Hold 'Em" as fan-demanded radio hits — but frankly, it doesn't matter. We're already tuned into KNTRY, and <a target="_blank" href="https://www.businessinsider.com/beyonce-cowboy-carter-album-reviews-what-critics-are-saying-2024-3">we're having a blast</a>.

On 'Cowboy Carter,' Beyoncé beats country radio's gatekeepers at their own game

<ul class="summary-list"><li>The iconic <keyword id="1944813" type="PERSON" weightage="60" keywordseo="Learjet">Learjet</keyword> is going out of production this year. </li><li><keyword id="117791" type="COMPANY" weightage="60" keywordseo="Bombardier">Bombardier</keyword> made the "difficult decision" as it looks to cut costs and boost profits.</li><li>The Learjet first hit the market in 1963 and sold more than 3,000 units. </li></ul>Bombardier will stop building the iconic Learjet model of private jet after nearly six decades on the market as part of a plan to drive profitability. The Canadian business-jet manufacturer will end production of the long-running model in the fourth quarter of 2021, it said in a <a href="https://bombardier.com/en/media/nouvelle/bombardier-reports-full-year-2020-financial-results-provides-2021-guidance-and?page=0">statement</a> reporting its 2020 earnings. Bombardier said dropping the Learjet from its lineup will allow it to focus on its higher-margin aircraft, the Challenger and <a href="https://www.businessinsider.com/bombardier-global-5500-enters-service-46-million-private-jet-2020-7">Global</a> models. "Given the increasingly challenging market dynamics, we have made this difficult decision to end Learjet production," Bombardier's CEO, Eric Martel, said in a statement. The Learjet entered production in 1963 and sold more than 3,000 units over its lifespan, Bombardier said. Bombardier bought the Learjet Corporation in 1990. During its more than half a century on the market, the Learjet broke through into popular culture and became synonymous with <a href="https://www.businessinsider.com/private-aviations-wildly-successful-year-2021-1">luxury air travel</a>. It was namedropped in songs by Carly Simon and Pink Floyd and became <a href="https://www.wired.com/2013/10/lear-jet-50th/">Frank Sinatra's aircraft of choice</a> starting in the mid-1960s.Read more: <a href="https://www.businessinsider.com/zeroavia-founder-reveals-challenges-advice-aviation-startups-2020-12">A Bill Gates-backed aviation startup founder reveals how he got $21 million to build a hydrogen plane that won't go to market for a decade</a>The move comes amid larger restructuring plans to reduce costs and increase profitability. Bombardier said it plans to cut 1,600 jobs, bringing its total global workforce to around 13,000. "These reductions are absolutely necessary for us to rebuild our company while we continue to navigate through the pandemic," Martel said. Bombardier has also been shedding businesses outside of its core private jet unit as it seeks to boost profits and pay debts. Last year, the firm <a href="https://www.cbc.ca/news/business/bombardier-financial-results-airbus-c-series-1.5462182">sold its commercial aviation division</a> to Airbus and agreed to <a href="https://www.reuters.com/article/bombardier-ma-alstom-agreement/bombardier-agrees-8-2-billion-deal-to-sell-rail-unit-to-alstom-idUSP6N28U011">sell its rail division</a> to French manufacturer Alstom for $8.2 billion.

Bombardier is cutting its iconic Learjet private jet, a symbol of luxury air travel for nearly 60 years

<ul class="summary-list"><li>CoreLogic's latest data showed home prices rose the most in the 45-year history of its <a href="https://www.corelogic.com/press-releases/us-annual-home-price-growth-at-a-record-18-in-october-corelogic-reports/">price index</a>.</li><li>The data provider cited pandemic factors and higher household formation.</li></ul>US home-price growth is surging. That's good news for homeowners, bad news for homebuyers, and especially bad news for millennials.Between October 2020 and October 2021, the average price of an American home went up 18%, according to CoreLogic's <a href="https://www.corelogic.com/press-releases/us-annual-home-price-growth-at-a-record-18-in-october-corelogic-reports/">Home Price Index</a>, which has been the definitive source for the US <keyword id="11957054" type="UNKNOWN" weightage="60" keywordseo="housing-market" source="Orion">housing market</keyword> for 45 years. That's the biggest increase in those 45 years. There's reason to believe that the market will be calming down soon, CoreLogic said, highlighting that month-over-month growth slowed to 1.3%, down from its peak of 2.3% in April. This portends a more approachable market in the future for homebuyers. The data provider predicted home prices would increase 2.5% between October 2021 and October 2022 as financial concerns deterred buyers and more houses entered the market. "New household formation, investor purchases and pandemic-related factors driving demand for the limited supply of available for-sale <keyword id="11917391" type="UNKNOWN" weightage="60" keywordseo="homes" source="Orion">homes</keyword> continues to propel the upward spiral of US home prices," CoreLogic CEO Frank Martell said in a statement. "However, we expect home price growth to moderate over the near term as many buyers take a break for the holidays."The states that experienced the highest home-price increases in this period were Arizona, Idaho, and Utah. Each had surges of more than 24%, according to CoreLogic's data.These record price increases are good news for the homeowners. US homeowner equity increased 31% in last year's third quarter, adding $3.2 trillion to Americans' wealth, or about $56,700 per borrower. But they're bad news for all the younger buyers looking to become homeowners. Millennials have had a <a href="https://www.businessinsider.com/housing-market-forecast-millennials-buying-homes-crisis-2021-4">rough experience</a> with the <keyword id="11893570" type="UNKNOWN" weightage="60" keywordseo="economy" source="Orion">economy</keyword>, going through two recessions before their oldest members turned 40 and two housing crises. Now, they've become the slowest generation in American history to become homeowners. But they've been trying to change that this year, despite the surge in housing prices.<h2>Despite historic price growth, younger buyers are still vying for <keyword id="11916126" type="UNKNOWN" weightage="60" keywordseo="homeownership" source="Orion">homeownership</keyword></h2>Despite the record unaffordability of the housing market, half the respondents in every age bracket of CoreLogic's consumer survey said they wanted to own homes. The desire is there, even if the market isn't. This year, millennials applied for more <keyword id="12212082" type="UNKNOWN" weightage="60" keywordseo="mortgage" source="Orion">mortgage</keyword>s than any other generation. Fifty-one percent of mortgage applications were submitted by those between the ages of 26 and 41, a CoreLogic report found last month. Factors such as the increased popularity of <a href="https://www.nytimes.com/2021/02/19/realestate/house-buying-online.html">online homebuying and digital-first lending may have played role in this</a>.Despite the anticipated eventual return to normal, the pandemic is expected to permanently raise the floor for US home prices. In their November housing forecast, economists at Fannie Mae predicted that the median price of a previously owned home would surpass $400,000 by the middle of 2023. The firm said the median new-home price would likely hit a record high of $464,000 by the end of 2023, roughly $100,000 higher than it was at the start of 2021.Younger demographics may be plowing ahead with homeownership, but the pandemic-era market is the newest in a series of financial obstacles that has <a href="https://www.businessinsider.com/millennials-great-recession-finances-coronavirus-triggers-financial-crisis-2020-4">plagued</a> millennials since their coming of age.

The housing market just keeps getting worse for buyers. Prices haven't gone up this fast in at least 45 years.

<ul class="summary-list"><li><keyword id="412955" type="PERSON" weightage="60" keywordseo="US-home-prices">US home prices</keyword> surged 10.4% year-over-year in February, the biggest such jump since 2006.</li><li>The market has been red hot during the pandemic, but affordability represents a new challenge.</li><li>Price growth will cool into 2022 as mortgage rates rise and price out more buyers, CoreLogic said.</li></ul>Everyone knows it's been hard to find an affordable house amid the pandemic, but as the data comes in, it's becoming clearer just how hard.The answer: Extremely.US <keyword id="112918" type="PERSON" weightage="60" keywordseo="home-prices">home prices</keyword> continued to rip higher in February as supply constraints across the country and outsize demand boosted competition.Selling prices increased 10.4% in February from year-ago levels, marking the largest year-over-year gain since 2006, according to <a href="https://www.corelogic.com/news/supply-constraints-and-buyer-demand-pushes-us-home-price-annual-appreciation-to-15-year-high-in-february-corelogic-reports.aspx">CoreLogic</a> data published Tuesday. Prices rose 1.2% from levels seen in January 2021. Idaho and Montana saw the biggest jumps, with year-over-year gains of 22.6% and 19.5%, respectively, according to the financial analytics firm CoreLogic.And the outlet sees another year of more expensive housing ahead, projecting prices will rise another 3.2% by February 2022. The end of the pandemic can ease constraints on supply, CoreLogic said. On the demand side, it expects the lack of affordable housing to cut into some potential purchases."The run-up in home prices is good news for current homeowners but sobering for prospective buyers," Frank Nothaft, chief economist at CoreLogic, said. "Those looking to buy need to save for a down payment, closing costs, and cash reserves, all of which are much higher as home prices go up."The <keyword id="189423" type="PERSON" weightage="60" keywordseo="housing-market">housing market</keyword> was among the few hotbeds of economic activity throughout the coronavirus pandemic. The Federal Reserve's emergency rate cuts in March 2020 pulled mortgage rates to numerous record lows throughout last year, leading many to take advantage of more appealing borrowing costs. Prolonged work-from-home periods spurred moves <a href="https://www.businessinsider.com/where-wealthy-americans-moved-during-pandemic-luxury-real-estate-suburbs-2021-3">from apartment-dense cities into suburbs</a>, which also lifted housing-market demand.The buying spree quickly snapped up most of the market's available supply, but that streak recently showed signs of slowing. For one, expectations for a strong economic recovery saw investors dump Treasurys in recent weeks, lifting yields on government debt and in turn leading mortgage rates to swing higher. Rates now sit at their highest levels since June after <a href="https://www.businessinsider.com/mortgage-rates-climb-inflation-fears-housing-market-economy-freddie-mac-2021-3">rising for seven weeks straight</a>.The turnaround in mortgage rates and soaring prices seemed to finally bite into the housing market's rally in February. Existing <keyword id="6429634" type="UNKNOWN" weightage="60" keywordseo="home-sales">home sales</keyword> <a href="https://www.businessinsider.com/existing-home-sales-february-supply-shortage-rising-prices-housing-market-2021-3">fell 6.6% that month</a> to the slowest rate since August, according to the National Association of Realtors. At the same time, supply remained a measly 1.03 million units, a level that would only satisfy two months of sales at the February rate. Should prices trend even higher, the red-hot market could cool even faster."Homebuyers are experiencing the most competitive housing market we've seen since the Great Recession," CoreLogic CEO Frank Martell said. "As affordability challenges persist, we may see more potential homebuyers priced out of the market and a possible slowing of price growth on the horizon."

US home prices soared at the fastest rate since 2006 in February

<ul class="summary-list"><li>The latest US home inflation report shows prices still surging, but offered welcome news for buyers.</li><li>Prices rose 18.1% year-over-year in August, <keyword id="12251519" type="UNKNOWN" weightage="60" keywordseo="corelogic" source="Orion">CoreLogic</keyword> said Tuesday - the fastest growth in at least 45 years.</li><li>Yet month-over-month growth was just 1.3%, a huge slowdown from July, meaning the annual price gains are misleading about the state of the market. </li></ul>Depending on how you read the data, it's either the most extreme seller's housing market in roughly 50 years or a space that's turning the corner for homebuyers.On one hand, <keyword id="11985139" type="UNKNOWN" weightage="60" keywordseo="home-prices" source="Orion">home prices</keyword> skyrocketed 18.1% year-over-year in August, CoreLogic said Tuesday. That's the fastest rate of price growth in at least 45 years.But on a monthly basis, price growth is definitely cooling off after surging through most of the year. Prices rose 1.3% month-over-month through August, slowing sharply from the 1.8% jump in July. Other home-price indexes <a href="https://www.businessinsider.com/housing-market-prices-july-home-shortage-affordability-crisis-turning-point-2021-9">showed inflation easing in July</a>. The latest CoreLogic data suggests that slowdown isn't a one-off, and instead continued through the end of summer.The latter perspective comes at a critical time for prospective buyers. Months of record-breaking price growth pulled Americans' homebuying attitudes to dismal lows. Just 29% of surveyed adults <a href="https://www.businessinsider.com/housing-market-price-surge-americans-pessimistic-buying-attitudes-university-michigan-2021-9">said it was a good time to buy a home</a> in September, according to the University of Michigan's Surveys of Consumers. That's the smallest share since 1982, and underscores just how hellish homebuying has been in 2021.How the market got into this predicament is simple. The pandemic sparked a wave of moves as Americans looked to capitalize on record-low borrowing costs and the new freedom to work remotely. Home sales skyrocketed just months into lockdowns. But <a href="https://www.businessinsider.com/housing-market-short-millions-homes-homebuilding-real-estate-nar-report-2021-6">decades of underbuilding</a> quickly got in the way of the buying spree. Home supply plunged to historic lows, and the scarcity of available houses drove prices higher at a dizzying pace.Price inflation is starting to ease up, but the market remains far from normal. August's 1.3% gain is still much larger than the sub-1% monthly gains seen through much of the past decade. The persistent mismatch between home demand and market supply also hints at more extraordinary growth to come."We expect to see the trend of strong price gains continue indefinitely with large amounts of capital chasing too few assets," Frank Martell, president and CEO of CoreLogic, said in a statement.<div type="image" title="CORELOGIC" height="970" width="1669" msid="86797298" hostid="261"></div>That's not to say the price rally will last forever. CoreLogic expects inflation to slow quickly into 2022, a forecast <a href="https://www.businessinsider.com/housing-prices-go-down-even-out-real-estate-2021-7">shared by several other economists</a>. The company sees monthly price gains hitting pre-crisis levels by the end of next year.Even CoreLogic's near-term outlook calls for a continued cooldown. The firm sees prices rising just 0.3% from August to September. Home prices are also expected to climb just 2.2% from August 2021 to August 2022, according to the Tuesday report. That would be the slowest rate of home-price inflation since 2012.The estimates also ignore the potential for some major government intervention. President Joe Biden has already unveiled a series of regulatory changes that <a href="https://www.businessinsider.com/biden-housing-market-crisis-plan-home-construction-affordability-price-surges-2021-9">aim to create 100,000 new homes</a> around the country. Congressional Democrats are now looking to <a href="https://www.whitehouse.gov/cea/blog/2021/09/01/alleviating-supply-constraints-in-the-housing-market/">add another 2 million homes to the US supply</a> with their $3.5 trillion spending package.Whether the construction drive comes to fruition remains to be seen. The multitrillion-dollar plan is expected to shrink to roughly $2 trillion to win moderate Senate Democrats' support, and the $213 billion allocated for housing could easily be cut down.But some aid is still better than none at all. Buyers, then, can remark at the wild year-over-year price growth, while appreciating that the worst inflation is probably behind them.

Home prices are soaring at the fastest pace in 45 years - but there's good news for homebuyers

<ul class="summary-list"><li>Home sales have slowed, but buyers who were waiting for prices to cool were out of luck in June.</li><li><keyword id="112918" type="PERSON" weightage="60" keywordseo="home-prices">Home prices</keyword> surged at the fastest annual pace since 1979 as demand endured, CoreLogic said.</li><li>Rental prices leaped 2.5% in June, to well above the prepandemic trend, <keyword id="10344832" type="UNKNOWN" weightage="60" keywordseo="apartment-list">Apartment List</keyword> said.</li></ul>Housing prices got out of hand early this year, so Americans went on <a href="https://africa.businessinsider.com/markets/3-signs-that-american-homebuyers-are-solving-the-housing-crisis-by-refusing-to-pay/fze6f78">something of a strike</a>.They simply thought the deals weren't good enough, and home sales subsequently slowed from the frenetic pace seen earlier in the pandemic. But the market is still far from normal, and by many measures the affordability crisis is only getting worse.The stark imbalance between the number of homes available and the number of people wanting to buy continued to lift prices at an astonishing rate into the summer. Prices rose 17.2% year over year in June, the housing-data company <a href="https://www.corelogic.com/intelligence/u-s-home-price-insights/">CoreLogic</a> said Tuesday. That's the largest one-year increase since 1979, though the measure is somewhat skewed by the much lower prices seen earlier in the pandemic.On a month-over-month basis, prices rose 2.3% in June, CoreLogic added. That's how much prices typically rise in an entire year.Read more: <a href="https://www.businessinsider.com/housing-shortage-bubble-pandemic-real-estate-inventory-home-prices-affordability-2021-8" target="_blank" rel="noreferrer noopener">We are still in a housing crisis</a>The market remains rife with prospective buyers and too few sellers. The rate of inflation risks pushing less wealthy Americans out of the market."With plenty of cash on the sidelines, along with very low mortgage rates, prices are heading up, and affordability will become a more acute issue for the foreseeable future," Frank Martell, the president and CEO of CoreLogic, said in a statement.<h2>The homebuying spree is bleeding into the rental market</h2>Rents rose 2.5% from May to June and sit 11.4% higher than they were at the end of 2020, Apartment List said in <a href="https://www.apartmentlist.com/research/national-rent-data">a July 26 report</a>. By comparison, <keyword id="6361997" type="UNKNOWN" weightage="60" keywordseo="rent">rent</keyword> growth from January to July averaged just 3.3% in the three years before the pandemic.<div type="image" title="Apartment List" height="842" width="1122" msid="85023472" hostid="261"></div>The recent surge in rental prices places costs "well ahead" of the growth trend seen in 2019, the Apartment List economists Chris Salviati, Igor Popov, and Rob Warnock said in the report. The price boom is taking place in "virtually every major market across the country," they added. And while rents remain below their prepandemic levels in 13 major <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">markets</keyword>, prices are rebounding quickly, according to the report."As economic recovery continues to gain momentum, we may be seeing the release of pent-up demand from renters who had been delaying moves due to the pandemic," the team said. "Whereas last year's peak moving season was halted by the pandemic, this year's seasonal spike is more than making up for lost time."<h2><keyword id="6365707" type="ORGANIZATION" weightage="60" keywordseo="ubs">UBS</keyword> says there are reasons to be optimistic</h2>While prices have leaped higher, spending should soften as inventory bounces back in the months ahead, UBS economists led by Ajit Agrawal said in a note Tuesday. That's already shown up in homebuyer sentiments, which soured through 2021 amid the historic price surge. Pending home sales also slowed, suggesting high prices are finally slamming the brakes on market activity.Separately, the population shift from cities has started to fade, the team said. In the start of the pandemic, Americans <a href="https://www.businessinsider.com/moving-from-suburbs-to-exurbs-pandemic-relocation-where-to-move-2021-7">moved away from cities and flocked to exurbs</a>, areas more rural than suburbs that offer more space and cheaper housing.The trend slowed somewhat in May and June as reopenings led businesses to call employees back to their offices. That return to work should reverse out-migration from many cities and, in turn, cool booming demand in suburban and rural neighborhoods, the economists said.Still, that reversal isn't likely to play out until the end of the year, according to UBS. Buyers, then, <a href="https://www.businessinsider.com/housing-prices-go-down-even-out-real-estate-2021-7">are best off staying patient</a> as economists forecast weaker demand, rebounding supply, and a fizzling out of the exurban migration.

Everywhere you look America's housing crisis is getting worse

<div class="KonaFilter image-container display-table"><div><div class="image on-image">KenWiedemann/Getty ImagesSome millennials might finally be ready to take on homeownership.</div></div></div><ul class="summary-list"><li>More <a href="https://www.businessinsider.com/millennial-summer-2019-trends-leopard-skirt-seltzer-hot-girl-2019-8">millennials</a> are looking at buying houses, but it's causing home prices to rise, <a href="https://www.cnbc.com/2019/09/03/older-millennials-are-driving-home-prices-higher-again.html">reported Diana Olick for CNBC</a>, citing a <a href="https://www.corelogic.com/news/corelogic-reports-july-home-prices-increased-by-3.6-percent-year-over-year.aspx">new CoreLogic report</a>.</li><li>There's already a limited supply of <a href="https://www.businessinsider.com/category/starter-homes">starter homes</a> on the market, and this spike in demand is exacerbating the problem.</li><li>It's a vicious cycle for <a href="https://www.businessinsider.com/millennial-generation-labels-brokest-burnout-loneliest-2019-8">millennials</a>, many of whom have delayed homeownership because they can't afford to buy in the first place.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul><a href="https://www.businessinsider.com/millennials-not-buying-big-houses-mcmansions-real-estate-2019-8">Millennials</a> might finally be ready to buy homes - and it's creating a problem.Older millennials are aspiring to be homeowners, but the increased demand is causing home prices to shoot up, <a href="https://www.cnbc.com/2019/09/03/older-millennials-are-driving-home-prices-higher-again.html">reported Diana Olick for CNBC</a>.Home prices increased by 3.6% over the past year, she wrote, <a href="https://www.corelogic.com/news/corelogic-reports-july-home-prices-increased-by-3.6-percent-year-over-year.aspx">citing a new CoreLogic report</a>, which predicts a 5.4% price jump in 2020. CoreLogic's chief economist Frank Nothaft told Olick that home sales also rose over the past year thanks to increased family income and lower mortgage rates, which brought older millennials back to the real-estate market.The news comes a month after <a href="https://lendedu.com/blog/millennial-mortgage-survey/">LendEDU published a report</a> that found more than half of millennials are homeowners. However, <a href="https://lendedu.com/blog/why-millennials-arent-becoming-homeowners-survey/">a follow-up to that report</a> revealed that for those who don't own homes, tight budgets, lack of savings, and high debt levels are preventing them from buying.Read more: <a href="https://www.businessinsider.com/millennials-wiping-out-starter-homes-real-estate-2019-4">Millennials are making 3 key decisions that are wiping out the starter home - and it's changing what homeownership in America looks like</a>Frank Martell, president and CEO of CoreLogic, told Olick that more millennials are showing interest in buying homes. "But, with so few homes available for sale, the imbalance has created an affordability crisis that is getting worse every day," he said. "Demand exceeds supply and we're unsure of when the two will balance out."<h2>There's no way around it: Starter homes are scarce.</h2>In 2018, <a href="https://www.businessinsider.com/millennials-wiping-out-starter-homes-real-estate-2019-4">starter homes</a> represented just 20.9% of available housing inventory in the US, <a href="https://www.trulia.com/research/inventory-and-price-watch-q3-2018/">according to Trulia</a>.Millennials buying their first home today are likely to pay 39% more than their parents did 40 years ago, <a href="https://studentloanhero.com/featured/millennials-have-better-worse-than-generations-past/" target="_blank" rel="noopener">according to Student Loan Hero</a>. And a <a href="https://smartasset.com/mortgage/years-of-work-to-afford-a-down-payment-2018" target="_blank" rel="noopener">report by SmartAsset</a> found that in some cities, the median home outweighed the median income by so much that it could take nearly a decade to save for a 20% down payment. As a result, millennials have been renting longer and buying later.But now that some older millennials are ready to retire from the renting life, they're spawning an increased demand for homes, and it's exacerbating the already-limited availability.The US housing market is currently a seller's market, and it's likely to continue throughout the second half of 2019, <a href="https://www.forbes.com/sites/alyyale/2019/07/08/housing-market-check-in-6-expert-predictions-for-the-second-half-of-2019/#1d1fcbf218ba">experts told Aly J. Yale for Forbes</a>. A seller's market causes home prices to shoot up, leaving minimal inventory at the middle and low ends, Spencer Rascoff, Zillow's CEO, <a href="https://www.businessinsider.com/millennials-dont-buy-starter-homes-2017-10" target="_blank" rel="noopener">previously told Business Insider</a>. But there are other factors driving the shortage, too: rising construction costs, restrictive zoning rules, and changing consumer desires, <a href="https://www.nytimes.com/interactive/2019/06/20/business/economy/starter-homes-investors.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage" target="_blank" rel="noopener">reported Ben Casselman and Conor Dougherty for The New York Times</a>.<a href="https://www.businessinsider.com/real-estate-investors-millennials-buying-starter-homes-competition-2019-6">Real-estate investors</a> are only making the problem worse: In 2018, they bought roughly 20% of US starter homes, Casselman and Dougherty reported. Some investors flip the houses, others rent the houses out, and some resell the houses when they appreciate, which could take weeks or years, they wrote.All of these factors spell out tough competition for millennials, who are losing territory in the battleground of starter homes - which most of them already can't afford.<a href="https://www.businessinsider.com/intelligence/generation-z?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_hub&amp;itm_content=millennials&amp;itm_campaign=generation-z"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/uk-restaurant-serves-biggest-burger-in-europe-2018-2">We tried to finish the biggest burger in Europe</a></h3> <div> </div> </div>

Millennials might finally be ready to buy houses - but it's causing home prices to rise and creating a vicious cycle for a generation that's already financially behind

<ul class="summary-list"><li>Several gauges of housing market activity mirror trends seen just before the bubble burst in 2008.</li><li>Experts see the current boom as far safer than the prior rally, citing stronger lending requirements.</li><li>Still, here are trends ranging from <keyword id="112918" type="PERSON" weightage="60" keywordseo="home-prices">home prices</keyword> to construction activity that resemble 2005 and 2006.</li></ul>Housing-market monitors keep repeating the phrase "since 2005," except when it's "since 2006." That's worrying - both superlatives refer back to the peak of a historic real-estate bubble.Low mortgage rates and massive demand have powered a supercharged rally for US housing over the last year. Americans snapped up nearly all the available supply of new and previously owned homes amid huge population shifts from cities to suburbs. <a href="https://www.businessinsider.com/will-the-housing-market-crash-real-estate-bubble-millennials-homebuying-2021-4">Chronic underbuilding after the financial crisis</a> left contractors struggling to meet the new demand with adequate supply. That imbalance has since pushed selling prices skyhigh.The boom's frenetic nature has led many to compare the current market with that seen just before the infamous 2008 crash. Experts have been quick to note that, while some similarities exist, the latest price surge has more to do with a lack of inventory than dubious lending standards."I don't see the kind of financial stability concerns that really do reside around the housing sector," Federal Reserve Chair Jerome Powell <a href="https://www.businessinsider.com/jerome-powell-housing-market-boom-different-2008-crash-federal-reserve-2021-4">said last month</a>. "We don't see bad loans and unsustainable prices and that kind of thing."But just because the market looks different on a macro level doesn't mean there aren't strong similarities to the period just before the bubble burst. Here are five housing-market signals flashing the same signs seen about 15 years ago.<h2>(1) CoreLogic Home Price Index</h2>Possibly the most basic indicator of just how much demand has outstripped supply is nationwide price indexes.The headline price gauge for housing-data authority CoreLogic soared 11.3% year-over-year in March, according to a Tuesday <a href="https://www.corelogic.com/news/millennials-propel-home-buying-strong-demand-and-short-supply-push-us-home-prices-higher-in-march-corelogic-reports.aspx">report</a>. That marks an acceleration from the February rate of 10.4% and the fastest rate of price growth since March 2006. On a month-over-month basis, prices rose 2% from their February levels.The financial analytics firm sees that momentum cooling over the next year. A persistent wearing-away of home affordability will likely curtail some purchases, and accelerated construction will shore up supply in the months ahead, CoreLogic said. Still, year-over-year price growth should reach 3.5% as lingering demand keeps the rally alive, Frank Martell, the president and CEO of CoreLogic, said in a statement."With prospective buyers continuing to be motivated by historically low mortgage rates, we anticipate sustained demand in the summer and early fall," he said.<h2>(2) S&amp;P CoreLogic Case-Shiller Index</h2>Separately, a more city-focused measure of home-price inflation notched a similar reading last week. Home prices in metropolitan areas gained 12% year-over-year in February, according to the S&amp;P CoreLogic Case-Shiller Home Price Index, the headline index of <keyword id="412955" type="PERSON" weightage="60" keywordseo="US-home-prices">US home prices</keyword> for more than three decades. The reading signals the strongest price growth since 2006 and edged slightly higher from the prior annual gain of 11.2%.Inflation was broad-based. All 20 cities saw home prices climb, and 19 cities saw year-over-year price growth accelerate from January to February. Prices rose the most in Phoenix, San Diego, and Seattle, according to S&amp;P.<h2>(3) Selling prices for new vs. previously owned homes</h2>Digging deeper into <keyword id="6429634" type="UNKNOWN" weightage="60" keywordseo="home-sales">home sales</keyword> reveals an unusual phenomenon unseen since the previous boom. For the first time since 2005, Americans <a href="https://www.businessinsider.com/us-housing-market-home-prices-existing-new-construction-real-estate-2021-4">spent more on previously owned single-family homes</a> than on new construction, according to March housing data from the Census Bureau and the National Association of Realtors.The dynamic signals Americans are prioritizing buying any available home instead of hunting down a new unit.To be sure, monthly sales data is volatile and the premium for new homes could reemerge in April data. But with supply still under pressure and CoreLogic's Tuesday report showing prices broadly climbing higher last month, the phenomenon might linger for some time.<h2>(4) Home starts</h2>As gauges of market demand soar to 15-year highs, so have measures of upcoming supply. Housing starts <a href="https://www.businessinsider.com/home-starts-march-housing-market-supply-shortage-homebuilders-economic-recovery-2021-4">surged nearly 20% in March</a> as contractors rushed to address the lack of new homes for sale. The leap places the annual rate of starts at its highest since 2006 and serves as the largest month-over-month gain since 1990. Permits for new residential construction also increased, albeit at a slower rate.The rebound was somewhat prompted by winter storms curbing construction activity in February. But for the most part, a <a href="https://www.businessinsider.com/how-2020-broke-the-housing-market-inventory-could-run-out-2020-9">historic shortage of available homes</a> fueled the pickup in building. Just 1.07 million existing homes were up for sale in March. That sum, at the current purchase rate, would be snapped up in only two months.Homebuying has slowed from its pandemic-era peak, giving contractors slightly more time to meet the elevated demand. With millennials <a href="https://www.businessinsider.com/housing-market-forecast-millennials-buying-homes-crisis-2021-4">hitting peak homebuying age</a> and lumber prices expected to decline, some economists see the rebound in construction paving the way for <a href="https://www.businessinsider.com/housing-market-sustainable-boom-homebuyers-mortgage-rates-millennials-construction-jefferies-2021-4">more moderate price growth</a>.<h2>(5) Home equity take-out</h2>The sustained acceleration of home price growth has also lead owners to take out equity at the same rate seen in the mid-2000s. Homeowners refinancing their mortgages pulled roughly $50 billion in equity out of their homes throughout the fourth quarter of 2020, according to data from Freddie Mac and the Urban Institute.Mortgage rates, while still at historically low levels, reversed their pandemic-era decline through the first quarter as investors braced for the economic recovery to give way to higher borrowing costs. Those higher rates erased the rate-reduction incentive for refinancing, making equity take-out the top reason to refinance, the Urban Institute said in a <a href="https://www.urban.org/research/publication/housing-finance-glance-monthly-chartbook-april-2021/view/full_report">report</a> published April 27.Although equity take-out on its own is normal, the sharp uptick seen last year could be cause for concern. Some economists have criticized the Fed's ultra-accommodative policy for encouraging risk-taking across various <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">markets</keyword>. Increased equity take-out presents new financial risks for participating homeowners since a decline in home prices from their skyhigh levels could cut deeply into their balance sheets.And while equity take-out sits at its 2005 level, it is still well below the 2006 peak. Yet with mortgage rates expected to climb over the next few years, take-out refinancing could accelerate further.

5 warning signs in the real-estate market that recall the mid-2000s housing bubble

100 books everyone should read before they die (ranked!)

<div class="image-container float_right" style="width:480px"><div class="image">REUTERS/Shannon StapletonResearch in Motion (RIM) President and Chief Executive Officer Thorsten Heins raises his arms during the launch of the RIM <keyword id="858672" type="UNKNOWN" weightage="60" keywordseo="BlackBerry-10">Blackberry 10</keyword> devices in New York January 30, 2013.</div></div>NEW YORK/TORONTO (Reuters) - A deal to take BlackBerry Ltd private could make sense from a financial standpoint, say private equity executives, though any such move won't by itself make the <a class="cite">smartphone</a> company more competitive.
The numbers for a leveraged buyout could still work, these executives said, after a Reuters report that BlackBerry's board was warming up to the possibility of going private as it fights to revive its fortunes.
The company's new openness to a leveraged buyout follows six weeks in which BlackBerry shares have taken a pounding, as sales of its new line of <a class="cite">smartphones</a> have so far failed to live up to the expectations of some analysts. The company is still bleeding subscribers and it faces an uphill battle to regain market share from Apple Inc's <a class="cite">iPhone</a> and devices that run on Google Inc's <a class="cite">Android</a> <a class="cite">operating system</a>.
Even so, the company has a core stable cash flow element that could support debt for a leveraged buyout, say some senior private equity executives involved in the sector. The sources asked not to be identified because they were not authorized to speak publicly.
BlackBerry is currently worth about $5 billion, but many of its investors like <a class="cite">Ross Healy</a>, a portfolio manager with <a class="cite">MacNicol &amp; Associates</a>, whose clients own BlackBerry shares, note that the company has more than $3 billion in cash alone.
"My own analysis tells me that the stock is worth an awful lot more than $5 billion," said Healy.
While sources told Reuters that no deal is imminent and that BlackBerry had not launched an active sale process, its openness to going private signals a major shift in the thinking of its management, which has long focused on engineering a turnaround as a public company.
BlackBerry declined to comment on the Reuters report that its management is open to the idea of going private.
A senior executive at a large Canadian pension fund that has worked closely with private equity players agreed that the math of a leveraged buyout could work, and that they and other funds in the country would consider getting involved in any such deal should it arise.
"In terms of the scale and the nature of the asset, if you are convinced that the value is there, there is no reason why PE wouldn't look at it," the pension fund executive said.
"If private equity can buy Dell, they can buy anything," the executive said, referring to <a class="cite">Silver Lake Partners</a> and founder <a class="cite">Michael Dell</a>'s efforts to buy the struggling PC maker for $25 billion.
NO PANACEA
To be sure, going private would not likely be a panacea for BlackBerry. Private equity executives and analysts contend there was no obvious way to restructure the company in the aftermath of any buyout.
One idea is to separate the handset business and focus on the company's network and infrastructure, which is known for its security, said private equity executives who have looked at BlackBerry. But the executives said there are no obvious buyers for the company's handset business.
In fact, a wide range of private equity firms as well as technology companies have looked at BlackBerry over the past two years as its once-dominant business went into a tailspin.
Last year, sources said companies, including Microsoft Corp and Amazon.com Inc held talks with BlackBerry about possible tie-ups. And earlier this year, a senior Lenovo executive said the Chinese computer maker would consider a bid for BlackBerry to boost its own mobile business.
Sources say Wall Street bankers have also pitched deals that involve BlackBerry to companies such as HTC and Samsung.
Yet, no one has managed to strike a deal so far.
"The problems don't change whether you're private or public," said Charter Equity analyst <a class="cite">Edward Snyder</a>. "You're facing the same set of problems. It just comes down to whether or not one of the two structures is better set up to solve them."
Even so, analysts and investors say taking BlackBerry out of the public eye could make sense, as it would give the company a bit more breathing room to work through its turnaround.
"It makes a tremendous amount of sense for somebody who can invest patiently and who is not going to be looking at the stock price from day to day," said Healy.
The company last year also named Timothy Dattels, a senior partner at private equity firm TPG Capital LP, to its board of directors, sparking a flurry of speculation that BlackBerry may consider a leveraged buyout, or going private.
Dattels's nomination came last June, shortly after BlackBerry hired <a class="cite">J.P. Morgan Securities LLC</a> and RBC Capital Markets to help it evaluate strategies, including a possible overhaul of its business model, as well as other moves such as expanding the BlackBerry platform through partnerships and licensing deals.
PARTNERSHIPS COMPLICATED
Waterloo, <a class="cite">Ontario</a>-based BlackBerry maintains that investors need to give it more time.
As a first step, many analysts say BlackBerry is more likely to focus on collaborations and partnerships. And its Chief Executive, Thorsten Heins, has suggested the same.
"We now have something to fight with and that offers us a lot of opportunities that the board and management can use in order to create value for this company," Heins said last month at the company's annual shareholder meeting.
Heins stressed a focus on "go to market partnerships" and "investment partnerships" for BES 10 - the latest iteration of the company's <a class="cite">mobile device</a> management tool, which now also allows BlackBerry's corporate and government clients to manage and secure Apple- and <a class="cite">Android</a>-based devices on their networks.
One source told Reuters on Thursday the company has recently had discussions with private equity firm <a class="cite">Silver Lake Partners</a> about potential collaboration in enterprise computing.
Silver Lake has not had any discussions with BlackBerry about taking it private or any other transaction, the source said. But should Silver Lake's Dell buyout succeed, the source said, one option could be for a collaboration with BlackBerry in <a class="cite">mobile computing</a> - an area where the PC maker has struggled.
Silver Lake declined to comment.
While it is unclear how such a collaboration would work, or be structured, such a tie-up could prove to be attractive for BlackBerry, as it would boost confidence in its new platform and the company's overall strategic direction.
Partnerships, however, are complicated and come with their own set of pitfalls.
"Even if you partner, it doesn't mean that you're going to turn it around," Snyder said. "Nokia's partnership with Microsoft is not going anywhere. You have to pick the right partner and the arrangement has to be set up correctly."
(Additional reporting by Allison Martell and Peter N. Henderson Editing by Paritosh Bansal, Frank McGurty and Ken Wills)

You Searched For "frank martell" and got 11 results

Miami and New York top the US in mortgage delinquencies as rates rise in all 50 states

Barbara Smith

On 'Cowboy Carter,' Beyoncé beats country radio's gatekeepers at their own game

Callie Ahlgrim

Bombardier is cutting its iconic Learjet private jet, a symbol of luxury air travel for nearly 60 years

Tim Levin

The housing market just keeps getting worse for buyers. Prices haven't gone up this fast in at least 45 years.

Jason Lalljee

US home prices soared at the fastest rate since 2006 in February

Ben Winck

Home prices are soaring at the fastest pace in 45 years - but there's good news for homebuyers

Ben Winck

Everywhere you look America's housing crisis is getting worse

Ben Winck

Millennials might finally be ready to buy houses - but it's causing home prices to rise and creating a vicious cycle for a generation that's already financially behind

Hillary Hoffower

5 warning signs in the real-estate market that recall the mid-2000s housing bubble

Ben Winck

100 books everyone should read before they die (ranked!)

JILLIAN D'ONFRO

Taking BlackBerry Private Makes Sense, But It's No Quick Fix

Greg Roumeliotis and Euan Roc…

Popular Keywords

Buying Guides