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Home prices are expected to increase in 2022
Forecasters believe home prices will continue to rise through April 2023, but the pace will slow down slightly from the prior year. The increase in prices is a result of two main factors: rising demand and tight supply. The lack of inventory is partly a result of the COVID-19 recession, which was followed by the subsequent decline in home sales. Another factor is an increase in the number of Millennials who want to own a home. Combined with a growing population and a low supply, Millennials are likely to be hit harder by the shortage of housing.
Another reason for home sales to increase in 2022 is the influx of millennials. Many millennials entered the housing market last year, and more are expected to do so in 2022. This generation is the driving force behind the U.S. housing market and will continue to stimulate the market. Millennials are the prime first-time homebuyers for many sellers, so this trend could continue to support prices in the near future.
Coworking spaces are booming in New York City
If you’re a digital nomad, creative, or freelancer, you’ve probably heard of coworking spaces.
These spaces are thriving in New York City and are perfect for the entrepreneur or freelancer. However, these locations are becoming more popular among large corporations, too. Here are some of the best NYC coworking spaces. Read on to learn more about these locations and why they’re so popular.
Companies are realizing the benefits of coworking spaces, and many of the world’s biggest companies have already adopted this trend. Microsoft, for instance, recently gave 30% of its New York employees access to a local coworking space. They also recently launched their own version, called Microsoft Reactors. And Microsoft isn’t the only major company to jump on the coworking bandwagon. It’s only natural that a global company like Microsoft would take advantage of the concept.
Rising mortgage rates are a concern for homebuyers
In the past few weeks, mortgage rates have been steadily increasing, surpassing the rates of a year ago. This increase in costs may cause some homebuyers to reconsider their plans, but it’s not entirely unavoidable. As the Federal Reserve continues to raise interest rates, this trend is likely to continue. Rising mortgage rates have pushed home prices higher and prompted a drop in home sales.
If you’re worried about rising mortgage rates, don’t panic. Instead, take this as an opportunity to assess your long-term goals and financial plan. Remember that buying a home is one of the largest investments most people make, and that paying it off will take decades. If you know you can afford it, the process will be less stressful. Make sure you plan carefully and budget property news, but don’t let the rate increase put you off buying a home.