Joel Berner
Coverage of Joel Berner in the Nexus archive.
- Austin's long, painful real estate hangover
Austin's real estate market has experienced a significant decline, with home prices dropping nearly 25% since 2022. Ryan McPherson purchased a $615,000 home but now faces selling it at a 30% loss due to oversupply, high mortgage rates, and reduced demand. The city's housing slowdown contrasts with earlier pandemic-era growth and mirrors trends in other post-pandemic hotspots.
- 11 states where you don't have to spend more than 30% of your income on housing
Realtor.com identified 11 states, primarily in the Midwest, where households earning the median income can afford a median-priced home without spending over 30% of their income. The analysis highlights factors like strong labor markets and lower home prices in these regions, contrasting with challenges like high mortgage rates and inflation affecting affordability elsewhere.
- The 10 best and 10 worst states to buy a home in 2026
Realtor.com ranked US states based on housing affordability and new-home construction, with Midwest and South states performing best and West/New England states worst. Indiana led due to high income relative to home prices, but faced future affordability risks from low construction. Joel Berner highlighted homebuilding as critical for long-term affordability.
- Average US long-term mortgage rate falls to 6.48%, retreating from its highest level in 9 months
The average U.S. 30-year fixed mortgage rate fell to 6.48% from 6.53% last week, marking a retreat from its nine-month high. The decline follows rising rates linked to the war in the Middle East, which has driven oil prices and inflation fears upward, though rates remain above the 6% threshold seen in late February. Housing market activity remains sluggish due to sustained high rates.