Experts are predicting a major shift in the housing market as the ‘silver tsunami’, a large transfer of wealth, approaches. This transition will happen as baby boomers downsize or pass on their homes to relatives. This process might alleviate the current housing shortage but could also introduce new challenges. Projected Changes in Home Ownership According...
IKEA is set to close its Bolingbrook store and establish a smaller version in Naperville’s Block 59 development. According to Sam Gravina, Chicago metro market manager for IKEA, the move aligns with customer behaviors in the Bolingbrook-Naperville area. The Naperville location enhances accessibility for existing customers while tapping into growing population hubs. The Bolingbrook store,...
Potential homebuyers in California often consider condominiums as they contemplate expensive housing options. Condos offer one of the more affordable paths to homeownership in the U.S. Times contributor Emily Hochberg recently encouraged buyers to look positively at condos. “A condo can allow you to live in popular neighborhoods with fewer required renovations, so long as...
For the first time in 20 months, the average rate on a 30-year mortgage has climbed above 7%. This development poses difficulties for the housing market and for homebuyers who are already facing rising costs in other areas. This increase is linked to Treasury yields reaching their highest levels in decades, affecting borrowing costs throughout...
The Department of Homeland Security (DHS) reported that the Trump administration’s mass deportations of undocumented migrants have contributed to lower rents in several Sun Belt cities, such as Austin, Nashville, and Phoenix. Through a social media post on X, the department stated, “DHS is reducing your rent, especially in states that cooperate with ICE.” Specific...
Historically, the Inland Empire was a favorable choice in Southern California real estate. As coastal development slowed, Riverside and San Bernardino counties saw new, affordable housing. These regions were attractive unless you preferred shorter commutes and cooler climates. However, today, housing anxiety is widespread across the region. Affordability Concerns Escalate The Public Policy Institute of...
A new architectural milestone has been reached in Texas with the completion of the Waterline skyscraper in Austin. This towering structure, standing at 1,025 feet tall, has earned the title of the tallest building in Texas. According to the Council on Vertical Urbanism’s Skyscraper Center, it stands as the tallest building in the Southern United...
In 2021, developer Paul Schon sold a newly built 14-unit Hollywood apartment building for $6.5 million. However, the Los Angeles multifamily market saw a significant decline over the next five years. Recently, Schon repurchased the building for $4.75 million, exemplifying the market’s downturn. Over five years, the value of apartment buildings in L.A. dropped by...
Jevon Carter, former guard for the Chicago Bulls, sold his five-bedroom townhome for $1.3 million. The property, located in a gated community in West Town, Chicago, encompasses 3,447 square feet. Carter originally purchased the townhome in September 2024, paying $1.5 million for the property. The home is situated on North Canal Street in the Kinzie...
When considering whether to share information about neighbors with potential homebuyers, one must weigh privacy and relevance. If the neighbors occasionally host lively gatherings, consider if it impacts the living experience. Since the noise level is not an issue, and they remain considerate, focus on concrete experiences rather than rumors. The speculation about them being...