Mortgage rates are soaring, with little relief in sight
Economists expect that mortgage rates surpassing the psychologically significant 7% threshold will have a chilling effect on home sales.
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Economists expect that mortgage rates surpassing the psychologically significant 7% threshold will have a chilling effect on home sales.
One facility owner told Bloomberg that youth sports buildings are “recession-proof,” since spending on the dream of their kids going pro is among the last things parents will cut back on.
From housing to restaurants, costs have skyrocketed as wealthier transplants moved into the area.
According to the National Association of Realtors (NAR), 7% of homebuyers aged 61 to 70 said the main reason they bought their new home was that they wanted more space, up from 4% in 2016.
Officials stabilized the former Pfizer headquarters that gave midtown Manhattan a major scare, but enthusiasm for future conversion projects could be on shakier ground.
The median US home is a record 44 years old, according to the Harvard Joint Center for Housing Studies.
According to the real estate data company Attom, returns on home flipping in 2025 fell to 25.5%, the lowest level since the 2008 recession.
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