US economy grows after swing in imports
Meanwhile, a closely watched gauge of consumer spending and investment - final sales to private domestic purchasers - slowed from 1.9% to 1.2%, the Commerce Department said.
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Daily Mail
17 minutes ago
- Daily Mail
Southern suburb shakes off sleepy image amid spillover from nearby city and offers ultimate lakeside living
As the population of North Carolina 's most popular city skyrockets, around 30 minutes north of Charlotte, a different city with the ultimate small–town charm is experiencing it's own boom. Davidson, North Carolina, is located about 22 miles from Charlotte, making it an appealing option for those who want a quieter environment while still having access to city amenities. With a population of over 16,000 in 2024 – up from 13,000 in 2019, Davidson has seen substantial growth since the pandemic. The population of Charlotte – North Carolina's most populous city – has seen almost 56,000 new residents since 2019. Charlotte became a trendy city to flock to during the pandemic because of its strong job market, relatively low cost of living compared to other major cities, pleasant climate and infamous Southern charm. And Davidson has certainly felt the spillover effects of Charlotte's population boom. Davidson combines the quintessential vibe of a Southern suburb with luxurious lakeside living and a bustling downtown to create the perfect multi–faceted city that offers something for everyone. Rusty Knox, Mayor of Davidson, told the Daily Mail that he has lived there all his life – and that his father, the former mayor, was also born and raised in the North Carolina city. 'We offer folks that move here something that everybody brings with them when they come from some other place in the country, and that's the hometown value they had in small towns they grew up in,' the mayor said of Davidson. Despite the population growing, Knox said Davidson is still a town of small businesses – with over 300 locally–run establishments, and only four large employers. The sudden demand in both Charlotte and Davidson are creating a fierce housing market. 'With a strong labor market, Charlotte is an attractive housing market, and this benefits not only housing demand in the downtown but also in the suburbs,' Danielle Hale, senior economist at told Mansion Global. 'Davidson saw a surge in popularity during the pandemic,' said Hannah Jones, a senior economic research analyst at 'The influx of demand created fierce competition in the market, which propped up record–high home prices.' 'In terms of price per square foot, home prices are more than 85 percent higher than pre–pandemic [in] Davidson,' Jones added. As of April 2019, just 8.4 percent of homes for sale in Davidson were listed for over $1 million, according to data provided by Jones. By April 2025, the amount of $1 million–plus listings stretched to a whopping 29.8 percent of all homes for sale. 'Anybody that chooses to call Davidson home should have that ability to live here,' said Mayor Knox. 'So we've got a very vibrant, affordable housing program here,' adding that the median income in Davidson is about $98,000. In terms of what Davidson has to offer residents, the list is endless. For those looking for nature, Davidson sits on the stunning Lake Norman, making idyllic lakeside living a reality for locals. 'Lake Norman itself is a huge draw – 32,000 acres of freshwater beauty where residents spend weekends boating, paddleboarding or just catching the sunset from the dock,' said Marzia Mazzotti, a global adviser at Premier Sotheby's International Realty, who lives in the area. Davidson is also known for being a pedestrian and bike–friendly neighborhood, with wide sidewalks and greenways, giving it even more of a small–town feel. The town also has many parks and trails for hiking and biking. 'We've got over 17 miles of Greenways in town. We've got over 400 acres of passive parks, where you can go run your dog and throw a frisbee and ride mountain bikes. And we have an archery range,' Mayor Knox said. Davidson boasts a lively downtown – with local shops, art galleries, restaurants and preserved historic buildings in Italianate, Greek Revival, and Gothic Revival styles. With annual events such as Town Day, arts festivals in April and Concerts on the Green, the city is bustling with culture. There is also a farmers market held each Saturday from May to November which offers seasonal produce and live music. Every year Davidson's downtown transforms into a magical holiday wonderland for Christmas celebrations, and there is an annual Halloween March for families to attend. There is also Davidson College, a respected liberal arts institution, in the heart of the city. With a 14.5 percent acceptance rate and small student body of just under 2,000 undergrads, the college adds a positive youthful dynamic to the population. 'There are students at Davidson College from 40 different countries,' according to Mayor Know - who revealed that, last year, the school had kids from all 50 states. 'We've got a very vibrant downtown with a couple of bars, a great coffee shop, and the students hang out there regularly, even though they have a lot of that stuff on campus,' Mayor Knox said, adding that the students are 'really intertwined' in the community. 'We're also in one of the region's top–rated public school districts, and there are excellent private school options nearby,' Mazzotti noted. Despite its tremendous growth over the last few years, Davidson maintains a close–knit and welcoming community. 'A lot of people from Charlotte, come here on the weekends to eat, and they fall in love with what it is, because it's safe, it's inviting, the sidewalks are brick, you can walk down the street, and people greet you,' Mayor Knox said of the city.
Daily Mail
17 minutes ago
- Daily Mail
Number of US cities with falling house prices hits alarming milestone as crash fears escalate
Number of US cities with falling house prices hits alarming milestone as crash fears escalate READ MORE: Experts issue surprising housing crash update One third of the housing markets across the US are seeing prices fall. Of the nation's 300 largest housing markets, 109 experienced home price declines between between June 2024 and June 2025. That compares to just 31 of the 300 markets posting annual drops in January, according to analysis from ResiClub. Experts say it show how quickly conditions have shifted as more homeowners rush to offload properties. An increasing number of housing markets are seeing declines as homeowners try to offload properties. In some areas, including Texas, Florida, and Louisiana, inventory has already climbed above pre‑pandemic levels. Nationwide, home prices barely budged, rising just 0.2 percent in the year to June 2025, down sharply from a 3.2 percent gain the previous year, Zillow's Home Value Index shows. According to ResiClub, among the 109 markets seeing declines were Austin, TX, Tampa, FL, San Antonio, TX, Dallas, TX, Phoenix, AZ, Orlando, FL and Jacksonville, FL. One third of the housing market across the US, including areas of Florida, is seeing prices drop Austin experienced a massive real estate boom during the pandemic that has since reversed The number of places seeing declines is also gradually increasing as the supply-demand balance shifts toward buyers. According to housing market analytics firm ResiClub, Punta Gorda and Cape Coral in Florida saw the largest home price falls between June 2024 and June 2025, at 11.88 percent and 9.56 percent, respectively. Once a pandemic boomtown which saw a huge influx of new residents, Cape Coral has become a place where people are desperately trying to sell their homes. The risk of natural disasters is high in the area, which has meant insurance premiums have skyrocketed. Taxes in Cape Coral have also continued to rise, according to local realtor José Echevarria. 'It is one of the worst real estate markets for a seller right now,' Echevarria previously told the Daily Mail. Prices in Cape Coral have been slashed for more than 50 percent of homes over the past two years - more than any other major metro area in the US, he added. Atlanta, GA, Denver, CO, San Diego, CA, and Raleigh, NC all also had moderate drops in home prices in the year to June 2025, according to ResiClub. Cape Coral, Florida, has turned into a housing market nightmare for sellers Condo prices, in particular, are plummeting, and Florida is being hardest hit Experts say elevated mortgage rates isn't helping even though it's a buyers market now Redfin senior economist Asad Khan says it is a good time to buy a home Many of the areas which are seeing prices fall now are ones where Americans flocked to during the pandemic. Tampa and Austin especially suffered after pandemic-driven migration slowed and mortgage rates rose. In June, Redfin declared the US housing market had officially turned in favor of buyers. There were about 2 million homes for sale across the country, but only about 1.5 million active homebuyers that were looking. That 500,000 gap was the largest imbalance Redfin has recorded. That same month, the total value of homes on the market hit a record-breaking $698 billion, up more than 20 percent from June 2024. Sellers have been forced to slash prices across the US. 'The balance of power in the US housing market has shifted toward buyers,' Redfin senior economist Asad Khan told the Daily Mail. 'But a lot of sellers have yet to see or accept the writing on the wall.'
Daily Mail
17 minutes ago
- Daily Mail
Football star exposes 'darker side of the NFL' that top players are struggling with: 'Nobody will admit it'
Pittsburgh Steelers star Breiden Fehoko has shed new light on the financial risks taken by many players in the NFL. The defensive tackle, who returned to the Steelers earlier this week, claimed he has seen teammates blow their entire salary before the start of the season. Many of the NFL's top players are on multi-million dollar contracts and yet Fehoko insists some are effectively 'broke' by week one. The 28-year-old's comments came during a social media Q&A, when he promised to be 'transparent' with fans. Earlier this week, one supporter asked him about 'a darker side of the NFL (that) no one talks about'. Fehoko said: 'I watched teammates spend a year worth of salary ($600k ish) some even more post-taxes and have nothing right before the start of the season. 'Nobody will admit it but there's guys in the league on big contracts right now that are figuratively broke. Liquidating assets as we speak.' Fehoko signed with the Los Angeles Chargers as an undrafted free agent in 2020 before joining the Steelers in April 2023. He has since had several spells with Pittsburgh over recent seasons and on Friday, the 28-year-old announced he was signing with the Steelers once more. According to Spotrac, the nose tackle has earned $2,056,130 in the NFL. He has not played a game since the 2022 season. Active NFL players who have spent at least three seasons on an active, inactive, injured reserve or PUP (physically unable to perform) roster - for at least three games - are entitled to benefits that include a pension and health insurance for five years after retirement. They also earn a 'Credited Season' if they are 'released injured and receive an injury settlement or grievance for the equivalent of three or more regular season games,' according to the NFL Players Association. But many football stars run into financial problems. The American Bankruptcy Institute claims nearly one in six files for bankruptcy within 12 years of hanging up their cleats. That figure is based on analysis on roughly 900 players who were drafted between 1996 and 2003 and 'whose careers began and ended between 2000 and 2013.'
