The stock market has been soaring high after the House of Representatives passed the biggest infrastructure bill. The $1 trillion infrastructure package would provide funding for broadband, transportation, public transit, and utilities while unleashing $550 billion for infrastructure spending. The infrastructure improvements will create jobs and boost housing affordability, increasing home loan buyers. Thus, making a long-term impact on the...
Biden addresses supply-chain issues ahead of holiday season
President Biden met with CEOs of major retailers and shipping companies to take preventive measures to combat the supply-chain crisis and speed up deliveries. The discussion with the chief executives of Walmart, United Parcel Service, FedEx, and Target Corp focused on laying efforts to further strengthen the supply-chain that has resulted in sharp price increases for both owned homes and...
Robust growth in Single-Family homes boost rental market
US Single-family homes, known to be the sub-sector of the rental market, have been growing rapidly.According to Statista Research Department, Single-family dwelling units closed at a record high of 208.4 million while multifamily units recorded only 37.8 million in October 2021. Ever since the remote work scenario prevailed, Americans have been opting for spacious accommodations, which has spiked up the...
Consumer prices record the highest surge since last three decades
The economy observed record-breaking inflation surge in more than 30 years, as the consumer prices rose 6.2% in October. The U.S. Bureau of Labor Statistics reported that the consumer pricing index for all Urban Consumers (CPI-U) jumped 0.9%. The rise in consumer prices affected the housing affordability as it faced a sharp decline of 151.9 in Q2. Shelter costs that...
