More Space, Please: Home Sales Booming Despite Pandemic, Recession

  • 📰 NPR
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Despite economic uncertainty and the steepest plunge into a recession on record, the U.S. housing market is booming. In June, sales of existing homes jumped more than 20%, a record — then that record was immediately broken the following month.

Caroline Wells and her family at their new home outside San Antonio. The builders just finished it so the yard has yet to be planted, but the couple are looking forward to letting the kids run out their energy with a lot more outdoor space than they had at their home in the city.Caroline Wells and her family at their new home outside San Antonio.

"Probably the worst moment was when I was actually on a focus group that my company put on to hear the needs of parents," Wells says. The Zoom call kept freezing because everyone in the house was using the Wi-Fi at the same time— including her 6-year-old son, who was hiding out in a fort made of blankets and chairs in the living room.

"I had to crawl into the fort to get him off the Internet, had to end up finishing the Zoom call on my cellphone in the closet with the door locked on the floor," Wells says."I was like, I can't even get through a focus group about how hard it is to work from home because it's so hard to work from home!"

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I am white. I haven’t inherited a dime. I had to pay for my schooling, no minority scholarships. I own stocks, I work hard, I study how to invest, and have done well because of these things. Your 1 sided segment today is absurd to me. I don’t need hand outs.

This pandemic is hurting & killing the most vulnerable. The very people that trump & his cronies, & imbecilic followers do NOT care about! What do you think will eventually happen once there’s time for this pandemic to fully decimate their lives? Those folks won’t be safe, either

I wonder how much of that was moving into smaller, more affordable homes

Sounds like people profiting from others lose in an unfortunate time

investors scooping up housing

Remember when you guys said looting was good?

People are leaving blue states and cities because they are shit holes

Sure, I would not live in close quarters of an apartment building during a pandemic.

Now you are contradicting your own propaganda in the same post. The housing market is booming precisely because there is little economic uncertainty. Trump fired up the economy. He is doing it again after shutting down to protect people. Only NPR agenda cannot see this.

I would be happy if I could afford a studio apartment.

Buying the home is the easy part. This is the economic “head fake”. Only the Christians and the wealthy will make it through this cloud of uncertainty. Some professionals received severance but that will evaporate soon. Yesterday is clear but the future is scary.

Who are buying homes now? Individuals or corporations?

Still nothing on twitter feed. USMarshalsHQ Georgia MissingChildren

What goes up , usually comes down with a big thud. Housing is just like toilet paper- couldn’t hardly find it for a few months and now it’s everywhere. Supply and demand. Housing bubble bust comes about every 20-25 yrs.....

I think the real story- is all those people who took a payment pause for 6- mo. Now only to really find out that they owe all that money in a balloon payment- if they couldn’t afford it then- they’ll be foreclosed on and bankrupt. That’s the real story of America now.

Housing prices are climbing. Here comes another bubble.

In 2006 it was similar situation...

people with time to shop

What do you think happens when the interest rates are dropped? Not rocket science. But more science than we have for Covid scamdemic.

DONATE to help Hurricane Laura victims!!!! — — — HelpLakeCharles HelpLouisiana HurricaneLaura HurricaneLaura2020 LakeCharles

..now do commercial real estate, retail centers, city dwellings.....

The construction folks seem very aggressive in their pricing at the moment. Maybe they saw too many Chip & Jo episodes. lol

The hundred- billion club, management, corporations - made out like bandits. The US wealth gap, under Trump, largest in a lifetime.

Is it physically painful for you guys to print something like this?

yeah, that's gonna end well, I'm sure.

Surely this is not some sort of bubble that might burst. Not that we’ve seen this sort of thing before.

Not home buyers. Rich investors pulling their money out of the b mmh start before it crashes.

People are leaving the cities. I'm on a farm and the new houses out here are popping up in every corner. Overnight, bam, another house.

Record low interest rates will do that

It is booming in Montana for now.

jrstoddard

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 96. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Discogs' Sales Grew 30% Amid Pandemic ShutdownsOnline music marketplace Discogs&39; global sales in the first half of 2020 were up nearly 30% over the same period last year, according to the company&39;s mid-year report. The best EXPENSIVE fan cam wbk 😌 Second!!!!!
Source: billboard - 🏆 112. / 63 Read more »