Morning Roundup (6/6/2023) — Zoomers Snub Expensive Cities

Good Morning! Today is Tuesday, June 6. Mike Pence announced he is running for president. U.S. regulators accused Binance, the world’s largest crypto exchange, of mishandling customer funds and lying to investors. Apple announced goggles that overlay the virtual world on reality.

The Mortgage Note Reports

Prices Rising: Single-family home prices increased again in April, up 2% YOY and 1.2% from March, as low inventory keeps a nationwide correction at bay.

Cities Snubbed By Zoomers: Gen Z homebuyers favor affordable metros over traditionally young cities like San Francisco and NYC, preferring to save cash on housing.

Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Listen to our podcast.


TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.

In other mortgage and housing news…

“Frightening Time”: Billionaire investor Jeff Greene is sounding the alarm on the real estate market over a decade after he profited off the housing market crash

“All Hell Will Break Loose”: …but “Shark Tank” star Barbara Corcoran expects residential prices to soar again as soon as interest rates dip.

New Fannie Director: Fannie Mae announced that Risk Response’s Chetlur S. Ragavan has been appointed to its Board of Directors.

Blackstone’s Insights: Some of Wall Street’s craftiest investors are seeing around the corner of REIT’s big headache and pulling the plug on some office buildings.

Hope For First-Timers: First-time homebuyers feel confident they’ll be able to afford a home in the next year despite the changing market, a survey from Chase finds.