24/7 Wall St.

Home prices are at an all-time high in the United States. After rising year-over-year for 11 consecutive months, the median sale price of existing homes hit a record-breaking $419,300 in May 2024, according to a new report from the National Association of Realtors. High prices are largely attributable to a lack of inventory, as high […]
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Cities Where Home Prices Are Actually Falling

Homebuyers shouldn’t expect market conditions to improve too much in the second half of 2024, with mortgage rates likely to remain elevated and supplies tight. Economists expect home prices will rise by about 4%, and mortgage rates to remain at about 6.5%, in the second half. Despite strong demand...

What to Expect in the Housing Market in the Second Half of the Year

WashingtonExaminer

Existing home sales fell in June for the fourth month in a row as median sales prices hit record levels, bad news for the housing market and the broader economy. Existing home sales in June fell a notable 5.4% to a seasonally adjusted annual rate of 3.89 million, the National Association of Realtors reported on Tuesday, as higher mortgage rates and home […]

Bad housing market news: Existing home sales plunge as prices hit record

Markets Insider

Residential and commercial property prices could fall as much as 30% over the next few years, one strategist said.

The real-estate market is in for sharp correction with losses that could take a decade to recover from, strategist says

The Associated Press

DETROIT (AP) — Investors are punishing automakers’ stocks this week after second-quarter earnings reports exposed industrywide issues of slowing sales and high prices, just as the companies are having to spend huge sums to make new electric and gas vehicles. Each auto company has unique problems, but common to many are growing vehicle stockpiles on dealer lots, requiring increased discounts to sell them to buyers with stressed-out household budgets. Ford Motor Co., which reported a drop in second-quarter earnings due electric-vehicle losses and persistently high warranty costs, led the declines. Its shares have fallen 20% this week. But others such as General Motors, Tesla, Stellantis and Nissan, all saw their shares drop about 8% or even more. Carlos Tavares, CEO of Jeep and Ram maker Stellantis, said a significant auto-industry storm he’s been warning about for several years has arrived. “We are in it,” he told reporters after releasing disappointing earnings Thursday. “For me, it’s a no brainer that this industry is going to be in turmoil.”

Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlays

Pennsylvania State

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Bucks County Beacon

With an assassination attempt on Donald Trump at a rally in Pennsylvania on July 13, 2024, the U.S. experienced another violent episode in its increasingly polarized politics. Former President Trump, who’s about to formally become the GOP nominee for president in the 2024 election, survived the attempted assassination when, initial reports said, a bullet grazed his ear . But one rally attendee was killed , more spectators were injured and the suspected gunman is also dead. The Conversation’s politics editor, Naomi Schalit, spoke with University of Massachusetts, Lowell, scholar Arie Perliger after the event. Perliger offered insight from his study of political violence and assassinations. Given the stark political polarization in the U.S., Perliger said, “it’s not a surprise that eventually people engage in violence.”

‘One Inch from a Potential Civil War’? Trump Shooting a Close Call for American Democracy

Virginia State

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Cheryl E Preston

History Facts lists eight names US parents no longer give their newborns, which you may no longer hear in Virginia. The girls' names are Doris, Gertrude, Mildred, and Judith. I know or have known women with all four names, but they are either baby boomers or boomer parents' ages and someone's grandma or great aunt. Consider the ages of females in Virginia you know with these names.

Eight names parents in Virginia may no longer be giving to their newborns

Motor1.com

A study shows cars are being repossessed at a shockingly high rate through the first half of 2024, exceeding pre-pandemic levels. Car prices have skyrocketed in recent years. Not everyone can afford those monthly payments, a new study shows. Recent data from Cox Automotive shows auto repossessions are up 23 percent compared to last year. That's a significant jump, taking repos to levels not seen since before the COVID-19 pandemic.

Auto Repossessions Are Soaring

North Carolina State

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Town Talks

Death Disclosure Laws and Property Disclosures in North Carolina. In North Carolina, there is no legal obligation for homeowners or real estate agents to disclose if a death has occurred in a home, whether by natural causes, murder, or suicide. However, if a potential buyer directly inquires about any deaths on the property, the seller is required to provide that information.

If someone dies at your house do you have to tell a potential buyer? What North Carolina law says

Illinois State

Chicago, IL

Foodie in Chicago

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

In Virginia, Drinking in public or offering another person alcohol in a public space is prohibited. This is a class 4 Misdemeanor punishable by a fine of up to $250.00. Under a new law that goes into effect on July 1, this will change to a degree.WDBJ7 reports that the prohibition on drinking or offering an alcoholic beverage to someone else in public will no longer apply under the following conditions.

Drinking in public will no longer be prohibited on private Campgrounds in Virginia beginning July 1

New Jersey State

Burlington County, NJ

Morristown Minute

Officials Celebrate Success and Expansion of Meal Initiatives for Children. Morristown, NJ — State and local officials, including New Jersey Secretary of Agriculture Ed Wengryn, gathered July 18, 2024, at Pemberton Early Childhood Learning Center in Burlington County to spotlight the achievements of the Summer Food Service Program (SFSP) and the innovative Summer EBT initiative, which provides substantial support to low-income families during the summer months.

NJ's $120 Summer EBT Feeds Child Nutrition

West Virginia State

Norfolk, VA

Four Virginians were confirmed to be onboard when the Titanic sank on April 14, 1912. Phillip Acts and Selini Decker, who lived a few blocks apart in Norfolk, died when the ship sank. Richmond native Robert Decker and Eloise Smith, who later moved to Richmond from West Virginia, survived.

There's a reason no remains from the Virginia Titanic victims will ever be found

WASHINGTON (Reuters) - U.S. existing home sales fell more than expected in June as the median house price set another record high, but improving supply and declining mortgage rates offered hope that activity could rebound in the months ahead. The fourth straight monthly decline in home resales reported by the...

Record house prices depress US home sales in June

Business Insider

Learn how a housing bubble forms, the warning signs to look for, and what happens when a housing bubble pops.

What is a Housing Bubble? Signs & How It Bursts

NewsByJoshua

Bob’s Stores, a beloved retailer known for its mix of sports apparel and discount clothing, is now facing a heartbreaking turn as it undergoes liquidation following its bankruptcy filing.

Beloved Retailer Moves to Liquidate Assets Amid Bankruptcy

Kentucky State

Northern Kentucky Tribune

Gov. Andy Beshear sent a letter to Anne Milgram, administrator for the U.S. Drug Enforcement Administration (DEA) on Wednesday, expressing his support of the U.S. Department of Health and Human Services’ recommendation that the DEA ease restrictions on marijuana.

Gov. Andy Beshear pens letter to DEA in support of easing federal restrictions on marijuana

California State

The HD Post

CALIFORNIA – Plaintiffs, in a case against Wells Fargo alleging that the bank knowingly took part in a marketing scam, asked the court, July 8, not to grant a motion for summary judgment.

Class action lawsuit says Wells Fargo customers lost over $160 Million

Orlando, FL

June is generally a peak month for home sales, but you wouldn’t know it based on the record-high rate of contract cancellations last month. According to a recent report from real estate brokerage Redfin, 56,000 purchase agreements were canceled last month, or about 15% of all pending sales transactions. This is the highest cancellation rate for June since Redfin started tracking the metric in 2017. (The all-time high percentage of voided contacts occurred in March 2020, when pandemic quarantines went into effect and homebuyers canceled 17.6% of all sales contracts.)

Homebuyers Are Backing Out of Deals at a Record Pace

The Commerce Department released a report on Wednesday unexpectedly showing a continued decrease by new home sales in the U.S. in the month of June. The report said new home sales fell by 0.6 percent to an annual rate of 617,000 in June after plummeting by 14.9 percent to a revised rate of 621,000 in May.

U.S. New Home Sales Unexpectedly Decrease To Seven-Month Low In June

NewsBreak

High interest rates and low housing inventory are creating roadblocks for millennial homebuyers.

Homeownership is often seen as the cornerstone of success and fulfilling the “American Dream.” However, housing market conditions have pushed that milestone further out of reach...

High interest rates and low housing inventory are creating roadblocks for millennial homebuyers.

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