Mortgages Triple as Milei Reignites a Snuffed-Out Housing Market
Banks are expected to issue some $3 billion of them in 2025, up about 260% from the year before, according to local consultancy Empiria. Real estate brokerage franchiser Re/Max Holdings Inc. sees demand for housing soaring on the back of the reintroduction of loans.
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Boston Globe
6 days ago
- Boston Globe
How much does a house near here cost now? One. Million. Dollars.
'I'll say it's a sad thing that it has reached that spot,' said Melvin Viera, Jr., with RE/MAX Real Estate Center and past president of GBAR. 'But it's a good thing that it has reached that spot as well.' Advertisement The number of single-family home sales in June jumped up 19.6 percent from last month, and 5.8 percent year-over-year, with 1,292 sold, according to GBAR's numbers, which cover most of Greater Boston aside from the North and South shores. Condominium sales rose 1.8 percent year over year, with 986 sold in June. The million-dollar figure came as little surprise to Dino Confalone of Gibson Sotheby's International Realty in Cambridge. The local real estate community has been anticipating it for months, he said, with the median single-family home price hovering just below that mark all spring. Advertisement And while unnerving for some, Confalone said, it does reflect well on the area. 'For decades, I've said Boston is undervalued,' Confalone said. 'You have to pay to play to live here... It is a frustrating headline to see for a lot of people, but it's the brutal reality.' Related : Boston University economist Adam Guren said Boston has been facing the same challenges as other coastal superstar cities whose housing stock hasn't kept up with demand, ever since the financial crisis in 2008. The pandemic only drove up prices, he said, then interest rates roughly doubled, and now the cost of construction has soared. Those factors, 'are huge headwinds to building more housing,' he said, 'and of course deporting construction workers doesn't help either.' For affordable housing advocates like Jesse Kanson-Benanav, executive director of Abundant Housing, the million-dollar figure was a milestone, but not one, as he put it, 'that anyone really wants to reach.' Prospective buyers at an open house in Woburn. Pat Greenhouse/Globe Staff 'It's unfortunate,' he said. 'There's so much more we need to do in Greater Boston and across Massachusetts to make sure that we have a Commonwealth that's affordable and accessible to everyone.' He said statewide measures like the MBTA Communities Act, 'There are so many more policy opportunities for us pending on Beacon Hill,' Kanson-Benanav said. 'Other cities in America' — like Austin or Charlotte — 'invest in expediting permitting and making more varieties of types of homes can be built as-of-right in neighborhoods.' Advertisement Those measures, he said, have led to a sharp increase in supply and stabilization of housing prices. A big, round number like a million dollars is a major signifier, one that will likely become an easy soundbite on Beacon Hill and Related : 'Across income levels, [housing costs are] hurting our businesses, our economy, and our competitiveness, and it tells us we need to take action,' said Rachel Heller, chief executive of Citizens' Housing and Planning Association, a Beacon Hill advocacy group. 'This is a solvable problem, and housing is the best investment that we can be making in our state.' But any new law will take time to result in actual homes that middle-class Massachusetts residents can buy. For people home shopping this summer, the price is steep. But GBAR's data does show one silver lining: The number of new listings on the market is up 8.9 percent compared with the same month last year, while condos were up 19 percent. And typically, home prices here peak for the year in June, when the seasonal housing market is at its busiest. Which means, hopefully for some, they'll mellow a bit and dip back below that million-dollar mark. For a little while, anyway. Janelle Nanos can be reached at
Yahoo
11-07-2025
- Yahoo
Johnson Controls' Sensormatic Solutions Launches AI-Powered Shopper Tracking with Privacy-First Re-ID Technology
Johnson Controls International (NYSE:JCI) is one of the best manufacturing stocks to buy according to hedge funds. On July 8, Sensormatic Solutions, which is a retail solutions portfolio of Johnson Controls, announced the launch of new people-counting devices enabled with Re-Identification (Re-ID) technology and advanced deep learning AI capabilities. This development provides retailers with more data-driven insights into shopper demographics, abandonment rates, shopper-only conversion rates, dwell times, and previously unseen movement patterns. The Re-ID technology uses complex algorithms to anonymize and identify individual visitors as they move throughout a property. A team of workers wearing white hardhani and safety goggles assembling a complex HVAC system. It relies on generic identifiers like clothing colors rather than personal identifiable information/PI, staff wearables, or facial recognition. This approach helps to protect shopper privacy and ensure compliance with regulations such as GDPR, while still allowing retailers to understand how and where visitors make shopping decisions. Johnson Controls International (NYSE:JCI) engineers, manufactures, commissions, and retrofits building products and systems in the US, Europe, the Asia Pacific, and internationally. Sensormatic Solutions is the leading global retail solutions portfolio of Johnson Controls. While we acknowledge the potential of JCI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-07-2025
- Yahoo
Charlotte Mayor Vi Lyles announces bid for re-election
CHARLOTTE, N.C. (QUEEN CITY NEWS) — Charlotte Mayor Vi Lyles announced Thursday that she will officially file for re-election on Wednesday, July 16. Lyles is seeking her fifth term. Charlotte is a city of opportunity, and I'm proud of the progress we've made. From expanding affordable housing to improving public safety and investing in our infrastructure, we are delivering real results. But there is still work to do—and I'm ready to keep doing it. Mayor Lyles Since first taking office in 2017, Mayor Lyles has focused on tackling the city's most pressing challenges. Under her administration, Charlotte has: Invested over $150 million in affordable housing initiatives Spearheaded $250 million Mayor's Racial Equity Initiative Championed the transformative 2040 Comprehensive Plan Prioritized public transit improvements and mobility access Invested and supported small and minority-owned businesses through targeted economic programs Her campaign will center around uplifting families, strengthening communities, and ensuring Charlotte's future remains bright and inclusive. I believe in the people of Charlotte—our resilience, our spirit, and our potential. I'm running for re-election because I know we can keep moving Charlotte forward—together. Mayor Lyles Prior to becoming Mayor, Lyles was elected Mayor Pro Tem in 2015 and served two consecutive terms in an at-large seat on the Charlotte City Council. Spending her career in public service, Lyles worked in the City of Charlotte's budget department, becoming the city's budget director and later the assistant city manager before retiring. Lyles is also the city's first public administrator to serve as mayor and the city's first African American female Mayor. Raised in Columbia, South Carolina, Lyles is a graduate of Queens University of Charlotte and the University of North Carolina at Chapel Hill. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
