Money Dysmorphia: Social media's glamorization of wealth has led to "money dysmorphia," a condition where individuals feel financially inadequate despite having substantial savings. A recent study reveals that this phenomenon is particularly prevalent among Gen Z and millennials, who often compare themselves unfavorably to influencers and celebrities. This distorted financial perspective can impact housing markets by delaying home purchases, increasing rental demand, and driving debt. (NYT)

Price Hiccups: The U.S. median home-sale price reached a record $397,482 for the ninth consecutive week, up 4.7% year over year. Despite elevated mortgage rates reducing homebuying demand, prices remain high due to low inventory and lagging sale price indicators. However, signs of slowing growth are emerging, with homes selling for 0.4% below the list price and fewer properties selling above the asking price compared to last year. Rising supply and sluggish demand could soon temper further price increases. (Redfin)

Realtor Recession: The National Association of Realtors' 2024 Membership Profile reveals a tough year for real estate professionals, with membership dipping slightly and fewer deals closed in 2023. The number of Realtors dropped from 1.58 million to 1.55 million, and the typical Realtor completed fewer transactions and generated less sales volume compared to the previous year. High mortgage rates and low housing inventory contributed to these challenges, with affordability and supply issues being significant hurdles. Despite these difficulties, the majority of Realtors remain optimistic about their future in the industry. (Inman)

According to a new study, nearly half of Gen Z and millennials feel financially inadequate despite having significant savings. It's like complaining you’re starving while holding a sandwich, just because your friend has a five-course meal on Instagram. Let’s go!