Walz-ing into Housing: Democratic presidential nominee Kamala Harris has chosen Minnesota Governor Tim Walz as her running mate for the November election. Walz, known for his progressive housing initiatives in Minnesota, brings a track record of implementing affordable housing programs to the ticket. His most notable achievement is signing a $1 billion housing omnibus bill, which includes substantial investments in down payment assistance, housing infrastructure, and homelessness prevention. This selection aligns with Harris' campaign focus on housing affordability, as she pledges to address rising home prices and rent increases. (Realtor)

Stubborn Shelter: The July 2024 Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% month-over-month, with the year-over-year rate falling to 2.9%, the lowest since March 2021. The primary driver of inflation remains the shelter index, particularly rent. This softer inflation data, combined with a weaker July employment report, suggests the Federal Reserve may be positioned to ease monetary policy, potentially as soon as September. While food and energy indexes showed modest changes, the overall trend indicates inflation is moving towards the Fed's 2% target, potentially boosting consumer purchasing power in the near term. (JP Morgan)

Investors Rise: In the second quarter of 2024, investor home purchases in the U.S. rose 3.4% year-over-year, marking the most significant increase since Q2 2022. Investors bought one in six homes sold nationwide, totaling $43 billion worth of properties. The surge was particularly notable in San Jose and Las Vegas, where purchases increased by 27%. Single-family homes were the most popular among investors, accounting for 69.4% of their acquisitions. This trend is attributed to strong rental demand and investors' ability to capitalize on cash purchases, avoiding high mortgage rates that have made homeownership challenging for many Americans. (Redfin)

Now, Walz is known for his flagship $1 billion housing bill. To put that in perspective, that's about half the budget of a Marvel movie or roughly the amount Jeff Bezos spends on hair gel in a fiscal quarter. Let’s go!