New single-family home sales declined slightly in July, but still exceeded economist forecasts thanks to aggressive builder incentives and price reductions. The Commerce Department reported a seasonally adjusted annual rate of 652,000 units sold, down 0.6% from June and 8.2% year-over-year. Economists surveyed by Bloomberg had anticipated a slower pace of 630,000.
In a rare moment of honesty, the New York Times acknowledged this week that mass immigration causes housing prices to soar—a reality Americans have long known but the media has often denied. The admission came in a report covering protests in Mexico City, where locals are rebelling against rising rents and cultural disruption caused by a surge of foreign residents.
California Governor Gavin Newsom signed two bills on July 1 that roll back parts of the California Environmental Quality Act (CEQA), aiming to accelerate housing.
As homelessness surges across Colorado, experts and advocates remain sharply divided on the best strategy to reverse the crisis. A new report from the Common Sense Institute of Colorado challenges the effectiveness of the widely adopted “housing first” approach, arguing for greater emphasis on work and treatment-based models.
Massachusetts State Auditor Diana DiZoglio has released a scathing report accusing Democrat Governor Maura Healey of unlawfully using no-bid contracts to fund her administration’s expansive free housing program for migrants. The audit points to political favoritism, financial mismanagement, and a lack of transparency, all contributing to wasteful spending of taxpayer dollars.
