Boomers are pushing millennials out of the housing market

Boomers are pushing millennials out of the housing market as they hit the road for retirement. It’s no secret that baby boomers are vastly wealthier than millennials, but just how much helps explain the state of America’s gerontocratic housing market. While most millennials have now reached the “peak” homebuying age, their parents’ generation is keeping…

Scarier than death? Running out of retirement money Old age is the trickiest part of life to navigate financially, with its unpredictable care expenses and unknowable longevity. It’s also the point at which cognitive decline can scupper even the savviest financial plan. Why it matters: A recent American Economic Association paper surveyed Americans in or…

As Medicaid purge begins, ‘staggering numbers’ of Americans lose coverage States are combing through Medicaid rolls to decide who stays and who goes. But the overwhelming majority of people who have lost coverage so far were dropped because of technicalities. More than 600,000 Americans have lost Medicaid coverage since pandemic protections ended on April 1. And…

States seek to bar Chinese citizens from buying homes Share on facebook (opens in new window) Share on twitter (opens in new window) Share on linkedin (opens in new window) Share on email (opens in new window) Chinese citizens are returning to the U.S. housing market after a long lull, but recent efforts by several states to restrict certain foreign…

The Median Home Price Is Nearly $18,000 Lower Than a Year Ago Homebuyers who have been waiting for the right price are getting a bit of a break in 2023, according to a new report by Redfin: The median home price for a home in the U.S. is down nearly $18,000 compared to a year ago. Depending on…

Market crash by 30 percent The S&P 500 will crash 30% by December as spending slumps, profits shrink, and banking problems mount, markets guru Larry McDonald warns He sees less government spending, slimmer corporate profits, and banking pressures as key drivers. The founder of “The Bear Traps Report” touts energy and metals as smart bets…

How to use home equity while prices are still high There are multiple ways to borrow home equity that owners should be aware of. Inflation and spiking interest rates continue to plague Americans. The benchmark rate for interest rates now ranges from 5% to 5.25%, a 15-year high. The effect of the Federal Reserve’s aggressive rate hike schedule…

Fed rate hikes and default fears: Here’s what could be next for the housing market Homebuyers and renters alike could feel relief later this year as home prices stabilize, mortgage rates decline and rent price growth continues to slow. Economists expect the Federal Reserve to pause rate hikes for a time while it observes incoming…

A “shocking” reality for U.S. moms: Half have no retirement savings On Mother’s Day, the best gift for your mom might be a contribution to her 401(k) or IRA plan, with research revealing a significant gap between moms and dads in financial preparedness for retirement. About half of mothers across the U.S. have zero dollars…

For some older homeowners, a reverse mortgage could be a smart and easy way to access cash. As the U.S. copes with a potential recession and ongoing inflation, many Americans are examining their budgets to see how they can muster up some extra cash. For homeowners who are at least 62, one place may be…