The Evanston City Council has approved the construction of a five-story, 30-unit apartment complex on Emerson Street, despite opposition from a nearby historic Black church. The decision to proceed with the project was made through a 5-1 vote by the aldermen on July 13. This approval allows for significant zoning variations to accommodate the development […]
In June, U.S. home prices reached a new peak, impacting sales negatively, yet certain areas are proving advantageous for buyers. Miami, Florida stands out as a prime example, with data from real estate brokerage Redfin showing approximately 140 percent more home sellers than buyers. This high supply gives buyers in Miami the leverage to negotiate […]
California is known for its high-priced housing. From expansive compounds in the hills above Stanford University to beachside properties in Malibu, the state offers diverse options. Yet, in many of California’s elite communities, high prices are not a barrier due to equally high salaries. Conversely, homes in gentrifying urban areas are priced lower. However, these […]
New York City Mayor Zohran Mamdani recently announced the Rent Guidelines Board’s decision to implement a rent freeze. This move affects many rental properties in the city. While the mayor celebrates this decision, landlord Humberto Lopes raises concerns about its impact on property owners. Lopes sees the rent freeze as a challenge for landlords who […]
The conversion of an office building on East 42nd Street in New York City is set to become the largest of its kind in the city’s history. This initiative aims to tackle the city’s housing crisis through redeveloping office spaces into residential complexes. The building at 235 East 42nd Street, formerly the headquarters of Pfizer, […]
In 2019, approximately 36% of America’s 122.8 million households were headed by renters. Whether you’re in a single-family house in a small town or a studio apartment in a bustling high-rise, you might feel disadvantaged as a renter. Lisa Bates, a professor at the Toulan School of Urban Studies and Planning at Portland State University […]
The U.S. housing market is experiencing significant challenges, with experts noting unprecedented conditions affecting homeownership. Since 1776, the nation has not seen such a struggle among Americans trying to become homeowners, largely due to a growing gap between wages and home prices. The Housing Market in Context Home prices have increased by approximately 60% since […]
Arpit Gupta’s Concerns Arpit Gupta, a member of New York City’s Rent Guidelines Board (RGB), voted against the city’s rent freeze policy. He expressed concerns that this policy might lead older rent-stabilized buildings to fall into disrepair, as landlords might not have enough revenue for necessary capital improvements. Gupta fears landlords will struggle with bills, […]
The affordable housing shortage in the United States is a critical issue, with a study from the National Multifamily Housing Council and NYU Urban Lab revealing that it would take over a century for the gap to be closed in 38 out of the country’s 51 largest metropolitan areas if the current pace of construction […]
The U.S. housing market is seeing a change as listing prices drop at their fastest rate in at least nine years. This trend comes during a period marked by affordability concerns and economic uncertainties, including those related to the Iran war. According to recent housing data, the national median asking price in June decreased by […]