Home ownership among those in the 24-to-32 group plunged from 45 percent to 36 percent for the period in the Fed survey.
Builder sentiment rose 2 points to 58 in January according to the National Association of Home Builders. This came after two months of sharp drops in sentiment to the lowest level in more than two years. The index stood at 72 a year ago.
The slowdown in home sales and home price gains in most major U.S. markets is causing the opposite effect in the rental market, especially for single-family rental homes. Those rent prices increased 2.9 percent annually in November 2018.
That is its highest level since February 2018 and came after a 23 percent jump the previous week. Volume was just 0.5 percent lower compared with the same week one year ago
Trade tensions, along with pressure on companies from Beijing, have caused a decline in Chinese direct investment into the United States. Still, Chinese home purchases and venture capital funding continue to grow.
CNBC’s Deirdre Bosa sits down with actor and tech investor Ashton Kutcher and WeWork CEO Adam Neumann.
Lee Chee Koon of CapitaLand explains why the company is pursuing a S$11 billion deal to acquire real estate group Ascendas-Singbridge. One reason, he says, is that the company would be able to gain access to “interesting asset classes” in the new economy sectors.
Asian real estate developer CapitaLand said it will acquire Ascendas-Singbridge, which would create one of the world’s largest real estate investment managers.
CNBC’s Diana Olick reports on private sector data from John Burns Real Estate Consulting which showed that California had the worst newly home sales numbers.
Mathan Somasundaram of Blue Ocean Equities says the outlook for retail in Australia is going to be “tough.”