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…
Roselyn Omaka Leads Sinc Healthcare’s Nationwide Expansion in Remote Patient Monitoring
Sinc Healthcare, a leader in the realm of remote patient monitoring and a sister company to UPL Care, is proud to announce Roselyn Omaka’s addition to their executive team. This significant move marks the expansion of Sinc Healthcare’s innovative Medicare-compliant services across all 50 states in the United States, underlining the company’s commitment to nationwide healthcare improvement.
With Omaka’s expertise, Sinc Healthcare is poised to extend its reach, offering cutting-edge remote patient monitoring services to healthcare providers and patients across the entire country. This expansion ensures that
no matter where patients are located, they have access to top-tier healthcare monitoring and support.
Omaka brings a unique blend of biochemistry knowledge and business acumen to Sinc Healthcare. Her leadership is expected to drive the company’s commitment to legal compliance, maximize reimbursements for providers, and reduce hospital readmissions, crucial in today’s healthcare landscape.
Sinc Healthcare, under Omaka’s direction, embraces the technological advancements of AI and remote patient monitoring. This approach is set to revolutionize patient care, especially for those unable to make frequent in-person visits to healthcare facilities.
The expansion of Sinc Healthcare’s services nationwide means more healthcare providers can:
- Offer enhanced patient care through remote monitoring.
- Maintain operational efficiency and compliance.
- Utilize data-driven insights for better patient outcomes.
Sinc Healthcare has been at the forefront of remote patient monitoring since 2014, with a zero lawsuit record, emphasizing its dedication to compliance and quality care. Its services are now available across all 50 states, making it a leading figure in nationwide healthcare innovation.
For additional information on Roselyn Omaka’s role and Sinc Healthcare’s expanded services, fill out this form.
Comedy Filmmaking 101: How to Master Verbal Timing
In the realm of filmmaking, every element contributes to the tapestry of your story, and among these, verbal timing stands as a powerful thread that can weave unforgettable moments into your narrative. In this comprehensive guide, we delve deep into the significance of the pause in filmmaking. Specifically, we explore how mastering the art of the pause can elicit audience reactions, enhance engagement, and immerse viewers in your storytelling.
Setting the Stage for Verbal Timing Before we dive into the nuances of the pause, it’s essential to lay a solid foundation by considering how it fits into the broader context of your film. Here’s how to prepare:
- Develop Vibrant Characters: Craft characters with distinct personalities, quirks, and dynamics to create meaningful interactions.
- Craft a Compelling Script: Your script should encompass moments of humor, drama, tension, and surprise, setting the stage for varied emotional experiences.
- Establish Pacing Rhythms: Align your pacing with the genre and overall tone of your film, ensuring a seamless flow that captivates your audience.
The Pause as a Narrative Device A well-executed pause serves as a narrative device that can be employed in various scenarios to heighten your storytelling:
- Comic Timing: In humorous scenes, a well-placed pause following a setup line amplifies the impact of the ensuing laughter.
- Dramatic Effect: During emotionally charged moments, pauses heighten tension and enable the audience to absorb the gravity of the situation.
- Suspense Building: In suspenseful or thriller genres, strategic pauses keep viewers on the edge of their seats, building anticipation.
The Emotional Pause To evoke specific emotional responses from your audience, consider these tips:
- Timing Variations: Experiment with pause lengths. A longer pause encourages deeper contemplation, while a shorter one maintains pacing.
- Character Reaction Shots: Capture character reactions after a significant line, showcasing the impact of the dialogue on the story’s emotional landscape.
- Dialogue Placement: Position critical lines just before a pause, allowing the audience to digest and react to pivotal information.
Timing for Humor In the world of comedy, timing reigns supreme. Maximize comedic impact with these insights:
- The Punchline Pause: Pause after delivering a setup to let the audience anticipate and relish the punchline.
- Timing Delivery: Practice diverse comedic delivery styles, rhythms, and pauses to identify what suits your script and characters best.
- Physical Comedy Integration: Don’t overlook the synergy between verbal timing and physical comedy, as they can enhance each other’s humorous effect.
The Unexpected Pause Surprise your audience with an unexpected pause to create memorable cinematic moments:
- Subverting Expectations: Deviate from anticipated pacing to catch viewers off guard, generating intrigue and excitement.
- Plot Twists: Before revealing a plot twist or shocking revelation, pause to amplify its impact, leaving a lasting impression.
The Power of Editing Verbal timing isn’t solely reliant on actors’ delivery during filming; the editing process plays a pivotal role:
- Adjusting Pace: Fine-tune dialogue timing in the editing room by trimming or extending pauses to achieve the desired effect.
- Sound Design: Collaborate with your sound team to enhance pauses with ambient sounds, music, or silence, further immersing the audience.
- Testing and Feedback: Seek feedback from test audiences to gauge the effectiveness of your verbal timing choices. Analyze moments where the pause successfully elicited the desired reaction and where refinements may be necessary.
Mastering verbal timing in filmmaking demands practice, creativity, and a profound understanding of storytelling. By weaving the power of the pause into your narrative, you can engage your audience emotionally, craft unforgettable comedic moments, and intensify the impact of dramatic sequences. Remember, the pause isn’t just about silence—it’s a dynamic tool that enriches your storytelling and invites the audience deeper into your cinematic world. Embrace this art, and witness your filmmaking skills flourish, leaving audiences eagerly awaiting your next project.
Check out “10 Reasons Why Promoting Your Films Through Video Marketing Is Invaluable for Attracting Investors.”
For tickets to the February 10th, 2024 Houston Comedy Film Festival and film submissions, visit our website.
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