Real Estate

Rents still trending upwards despite a cooling in the real estate market

Rents are skyrocketing from coast to coast. A recent report found that more than half of renters have increased in the past year.

You’re not the only one with rent going up. Despite new data showing the housing market appears to be slowing, rents are still high and skyrocketing across the country.

“I pay monthly. I never pay on time. I pay when I receive it,” says Chicago renter Earlean Braggs.

A recent survey by mortgage lender Freddie Mac found that while nearly 60% of renters experienced a rent increase in the past year, only 38% said their income had increased.

“Sometimes I get nervous too because I have to prioritize,” Braggs said.

Chief economist Darryl Fairweather said, “Rents are rising for the same reason that everything is getting more expensive. Loose monetary policy over the past two years has left more money in the economy. is flowing and it’s taking root.” with Redfin.

Meanwhile, a report released this week showed new home sales in July were down 12.6% from the previous month. That’s according to data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, which shows rising home prices and rising mortgage rates have led to a recent decline in sales.

“There aren’t enough houses in the country, so people are rushing to find open apartments. Apartment rents are rising and it’s really hard for those trying to make ends meet,” Fairweather said. said Mr.

Fairweather said there are some places where rent growth is starting to slow, including major cities like San Francisco.

“People are not going to accept this kind of rent increase from remote work. They will pack up and go elsewhere to make money,” he said.

Whole Foods lawsuit

Whole Foods is being sued over its beef marketing slogan, “No antibiotics used.”
Consumers and animal welfare groups have sued the chain, claiming that laboratory tests found the beef to contain residues of antibiotics and other pharmaceuticals. The company did not respond.

The tension of holiday delivery

Tensions between FedEx and its third-party contractors could delay holiday season deliveries.A group of contractors threatened to shut down operations just before Black Friday. Most FedEx packages are shipped by independent companies. As many as 30% of them have lost money due to rising fuel, truck and driver salaries.

Hiring Party City Temporary Workers

Summer is over and retailers are gearing up for the holiday season. Party City has announced plans to hire 20,000 temporary workers. This is 3,000 more than last year, and at least 10% of those jobs will be offered full-time positions.

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