Builders’ lack of activity in the Northeast and Midwest have kept inventory low. Conversely, in the South -particularly in Texas and Florida-’ home prices are either flat or declining due to increased activity and rising inventory supply. The areas in the US that have the most supply (the South) also have markets where more than 50% of homeowners have a rate above 4.00%. This shows that homebuyers are willing to buy a house in this environment in the right scenarios. Get our thoughts here.
New economy outraces old ways to top 5%. A profound transformation is happening as millennials ascend to top-earning positions predominantly in tech and finance, signaling a distinct shift from traditional professions. The old economy, once dominated by sectors like law and medicine, is giving way to industries that offer rapid financial growth and higher earning potential.
Why does this matter? The job a high earner would do are now not necessarily about working in the same community you may live or play. A new generation of top earners is not interesting. What is interesting is how they are earning their money and where they are moving to. Remote work and tech work has created opportunities for markets outside the major metros (i.e. NY, Chicago, LA, SF) and these high earners working in secondary markets will need a place to live. Get our insights here.
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