Business

First-time buyers need 13 percent more in earnings to afford today’s high-priced starter homes on July 28, 2023 at 3:59 pm Business News | The Hill

Published

2 years ago

July 28, 2023

High home prices are straining the budgets of first-time homebuyers as the ongoing housing shortage pushed the cost of starter homes to a record high, according to a report.

The sale price of a typical starter home reached $243,000 in June, up 2.1 percent from a year ago and 45 percent above pre-pandemic levels, the report from real estate brokerage Redfin showed.

A first-time buyer needs to earn $64,500 annually to afford a home at this price point, a 13 percent increase from last year. San Francisco, Austin and Phoenix are the only metros analyzed by Redfin where buyers can earn less than last year and afford a starter home.

But buyers in Miami need 25 percent more income than last year to afford starter homes priced at $300,000.

“Buyers searching for starter homes in today’s market are on a wild goose chase because in many parts of the country, there’s no such thing as a starter home anymore,” Redfin senior economist Sheharyar Bokhari said in a statement, adding that high housing costs and stubbornly high mortgage rates continue to push potential buyers to the sidelines.

A home under construction at a development in Eagleville, Pa., is shown April 28, 2023. The sale price of a typical starter home reached $243,000 in June, up 2.1 percent from a year ago and 45 percent above pre-pandemic levels, a report from real estate brokerage Redfin showed. (AP Photo/Matt Rourke)

“People who are already homeowners are sitting pretty, comparatively, because most of them have benefited from home values soaring over the last few years,” Bokhari continued. “That could lead to the wealth gap in this country becoming even more drastic.”

Home prices are up again in parts of the country following a cooling period brought on by the Federal Reserve’s effort to slow the pace of inflation by raising interest rates.

Low inventory continues to drive prices and the lack of options moved up the median cost of a home to more than $400,000 for only the third time on record, according to data from the National Association of Realtors (NAR).

And Federal Reserve Board Chairman Jerome Powell said Wednesday that the housing market has “a ways to go” before it reaches a balance and prices cool.

Separate market data shows demand is still rising as pending home sales — a forward-looking indicator of home sales based on contract signings — increased for the first time since February.

“The recovery has not taken place, but the housing recession is over,” NAR’s Chief Economist Lawrence Yun said in a statement. “The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. Homebuilders are ramping up production and hiring workers.”

And Yun added that inflation data showing further signs of cooling bode well for mortgage rates that have constrained affordability for more than a year.

“With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun said. “Given the ongoing job additions, any meaningful decline in mortgage rates could lead to a rush of buyers later in the year and into the next.”

NAR is projecting that the 30-year fixed rate mortgage will dip to 6.4 percent this year and decline to 6 percent in 2024.

Business, Housing, Home prices, home sales, housing market, housing shortage High home prices are straining the budgets of first-time homebuyers as the ongoing housing shortage pushed the cost of starter homes to a record high, according to a report. The sale price of a typical starter home reached $243,000 in June, up 2.1 percent from a year ago and 45 percent above pre-pandemic levels, the…

Business

The Last of Us” Season 2: Cast and Creators Share Insights at SXSW

Published

3 days ago

March 9, 2025

Bolanle Media Staff

The cast and creators of the highly anticipated second season of “The Last of Us” gathered at SXSW to discuss the upcoming season. The panel featured cast members Pedro Pascal (Joel), Bella Ramsey (Ellie), Gabriel Luna (Tommy), Kaitlyn Dever (Abby), Isabela Merced (Dina), and Young Mazino (Jesse), along with co-creators Neil Druckmann and Craig Mazin.

Navigating Expectations and Surprising Fans

With the immense success of season one, Druckmann and Mazin acknowledged the pressure to deliver a worthy follow-up. Mazin emphasized their approach to cater to both fans of the game and newcomers to the series. “We try and think about the people who have played the game and make sure that we keep them on their toes and a little bit surprised,” Mazin stated. Druckmann highlighted the emotional weight of adapting “The Last of Us Part II,” emphasizing the dedication of the entire production team to doing justice to the source material.

A Glimpse into Season 2

Attendees were treated to a trailer for season two, offering a glimpse into the evolving relationship between Joel and Ellie five years after the events of the first season. Ramsey described the changed dynamic, hinting at a rift between the characters. Pascal added that their relationship is in “a different place” and that it is “fucking heartbreaking”.

Big Ideas: Tribalism, Love, and Loss

The creators delved into the central themes of season two, including tribalism, the destructive nature of love, and the consequences of loss. Druckmann explained that the season explores the complexities of community and the dehumanization that can occur when groups clash. Mazin emphasized the escalation of these themes, highlighting the potential for isolation and the lengths characters will go to protect their loved ones.

New and Expanded Characters

The panel also touched on new characters and expanded roles in season two. Gabriel Luna discussed Tommy’s evolution into a father, emphasizing how it solidifies his purpose and strengthens his commitment to protecting his family and community. The introduction of new characters like Gail, played by Catherine O’Hara, and the expansion of existing characters like Isaac, played by Jeffrey Wright, promise to add depth and nuance to the narrative. Additionally, the inclusion of Joe Pantoliano as Eugene, a character mentioned but not seen in the game, offers a rewarding experience for longtime fans.

Music as a Binding Force

Music continues to play a significant role in “The Last of Us,” particularly in the relationship between Joel and Ellie. Ramsey shared that music serves as a bonding experience for the characters, mirroring the connection between the actors on set. The guitar, a symbol of Joel’s promise to teach Ellie, takes on a more prominent role in season two.

Diving into the Game

The actors discussed their individual approaches to engaging with the source material. Kaitlyn Dever shared her experience playing the game with her father, while Young Mazino admitted to playing the second game up to a certain point.

How to Find More Free Events

SXSW Official Schedule: Use the SXSW website to filter for free events.
Eventbrite: Browse listings for unofficial SXSW events, many of which are free or low-cost.

Whether you’re a badge holder or not, SXSW 2025 offers something for everyone. From delicious food to live music and interactive experiences, there’s no shortage of fun to be had without spending a fortune. So, grab your friends and enjoy the best of Austin without a badge!

Bolanle Media covers a wide range of topics, including film, technology, and culture. Our team creates easy-to-understand articles and news pieces that keep readers informed about the latest trends and events. If you’re looking for press coverage or want to share your story with a wider audience, we’d love to hear from you! Contact us today to discuss how we can help bring your news to life

Business

No Badge? No Problem: Free SXSW Events

Published

3 days ago

March 9, 2025

Bolanle Media Staff

SXSW, one of the world’s most vibrant festivals, is underway in Austin, Texas, from March 7 to 15, 2025. While official badges can be pricey, there are plenty of free events and activities that allow everyone to join in on the fun without breaking the bank. Here’s a guide to some of the best free events at SXSW 2025:

Free Food and Drinks

Argentinian Barbecue at Tech N’ Fest
- Enjoy a fusion of Argentinian and Texas barbecue, along with complimentary wine and beer, at Buenos Cafe on March 7.

Love is Blind at Lucille
- Celebrate the fifth anniversary of Netflix’s “Love is Blind” with free coffee and cocktails at Lucille on Rainey Street.
Free Pastries and Non-Alcoholic Beer
- Handsome’s and Helium Mobile are hosting a gathering with free pastries and non-alcoholic beer, featuring DJ Jah Karma.
Mionetto Salone
- Experience Italian culture with free spritzes and Prosecco at the Mex-Ar Museum.

Interactive Experiences

Whataburger’s Museum of Art
- Explore hundreds of pieces of fan art and interactive features at Wanderlust Wine Co. on March 8-9.
Barbie Birthday Cake Mochi
- Enjoy free mochi ice cream at the SX Registrant booth from March 7 to 12.
Artisan Mercado@SXSW
- Discover local artisans and their wares at 419 Congress Ave. on March 7..

Music and Entertainment

Rolling Stone’s Future of Music Showcase
- Catch live music performances at ACL Live from March 11 to 14.

Taiwan Beats Day Party
- Enjoy Taiwanese hip-hop performances and cuisine at Seven on East 7th Street.
Something To Feel X SXSW Rnb Party
- Dance the night away at 612 W 4th St on March 7.

Networking and Community Events

K-Content Night 2025 @ SXSW
- Enjoy free dinner and drinks at Parlor & Yard on March 8.
SXSW Creator & Publisher Happy Hour
- Network with industry leaders at Chisos Boot Company on March 8.

How to Find More Free Events

SXSW Official Schedule: Use the SXSW website to filter for free events.
Eventbrite: Browse listings for unofficial SXSW events, many of which are free or low-cost.

Business

HRM Queen Shanta Lana Hereford Delivers Powerful Speech on Global Peace

Published

3 weeks ago

February 20, 2025

Bolanle Media Staff

New Delhi, India – February 16, 2025 – Her Royal Majesty Queen Shanta Lana Hereford, a distinguished global leader and advocate for peace and economic empowerment, was a special
guest speaker at an international event hosted by the EurAsia Afro Chamber of Commerce. The
hybrid event, aired live from New Delhi, India, gathered influential leaders, policymakers, and business executives from around the world to discuss global cooperation, economic diplomacy, and sustainable peace.

Queen Shanta delivered a compelling speech titled “Creating a Framework for a Global Peace Charter,” emphasizing the need for a justice-centered, faith-driven approach to global peace. She outlined a transformative vision, calling for governments, businesses, and faith leaders to unite to draft policies integrating equity, economic accountability, and environmental stewardship into global governance.

“The pursuit of peace is not just the absence of war; it is the presence of justice, dignity, and
opportunity for all, ” Queen Shanta stated. “We must move beyond just talking and establish
actionable frameworks that empower nations and communities to achieve lasting prosperity and peace.”

The EurAsia Afro Chamber of Commerce, under the leadership of its founder and chairman, Dr. Rohit Gupta, is dedicated to fostering economic and cultural collaboration between Africa, Asia, and Europe. The organization aims to create a strong, interconnected business network
bridging these regions, facilitating pathways for economic prosperity and diplomatic relations.
As a prolific leader within the African American diaspora and a global advocate for its
advancement, HRM Queen Shanta Lana Hereford is actively exploring opportunities for trade
and commerce between Africa, Asia, Europe, and other international communities.

Through her affiliations with organizations such as The African Diaspora Collective, The Atlanta Black Chambers, The Black Achievement Fund, The National Business League, The 10K Project, and many others, she is championing economic initiatives that build sustainable supply chains and foster strategic partnerships.

Her mission is to create economic opportunities for Black entrepreneurs and business leaders in America, who have historically been excluded from global trade discussions. By forging these international connections, Queen Hereford is working to ensure that Black communities in the U.S. not only have a seat at the table but play a key role in shaping the future of international commerce, economic empowerment, and global policy.

The event featured several other distinguished guests, including:
● Dr. Rohit Gupta: Founder and Chairman of the EurAsia Afro Chamber of Commerce,
Dr. Gupta has been instrumental in promoting cross-continental business relationships
and trade.
● H.E. Bishop Dr. Samsher Khan: Founder of the BSK Prayer Tower and IRKT, Bishop
Dr. Khan serves as a Peace Ambassador for the International Human Rights
Commission (IHRC) and holds the position of Asia’s Social Media Editor. He is dedicated
to promoting peace and spiritual well-being across communities.
● Madam Sadhvi Pragya Bharti: Sadhvi Pragya Bharti is a spiritual leader, humanitarian,
and national media panelist known for her advocacy of social and educational reforms
rooted in spirituality and justice.

The event underscored the importance of strategic economic partnerships as a tool for
peacebuilding, aligning with Queen Hereford’s global mission of self-determination and
economic sovereignty for Black and Indigenous communities worldwide.

As part of her continued advocacy, Queen Hereford urged global stakeholders to collaborate on
drafting a Global Peace Charter, organizing annual Global Peace Assemblies, and
implementing economic policies that uplift marginalized communities.

This event marks a significant milestone in international diplomacy, reinforcing the role of
economic and cultural cooperation in shaping a peaceful and prosperous future for all.

For media inquiries, interviews, or further information, please contact:
H.E. Roselyn Omaka
National Press Secretary, Nation of Cherut
Email: nps@nationofcherut.org
Phone: 281.301.5535