Everyone Loves Real Estate: Since 2013, real estate has consistently ranked as Americans' top long-term investment, according to Gallup polls, surpassing stocks. Despite the 2008 housing crash, the market’s recovery and the perception of housing as a stable, less volatile asset have kept it at the forefront. The illiquid nature of real estate, where price changes aren’t tracked in real-time like the stock market, contributes to its appeal, alongside the emotional connection to homeownership as a key part of the American Dream. (AWOCS)

Richie Rich Rents: The rental market is experiencing a significant shift as wealthy Americans increasingly opt to rent rather than buy homes. Data from IPUMS and the Federal Reserve's Survey of Consumer Finance show record-high levels of millionaire renters and high-net-worth households choosing to rent. This trend is driven by factors such as rising mortgage rates, increased homeownership costs, and a preference for financial flexibility. In response, developers are adapting their properties to cater to this growing demographic of affluent renters, offering larger floor plans and amenities suited to long-term tenancy. (TRD)

Sales Hiccup: Existing home sales in August 2024 decreased by 2.5% to a seasonally adjusted annual rate of 3.86 million, marking a 4.2% decline from August 2023, according to the National Association of Realtors. Despite this downturn, housing inventory increased by 22.7% year-over-year, and the median existing home sales price rose by 3.1% compared to the previous year. Zillow's Chief Economist, Skylar Olsen, suggests that the recent Federal Reserve rate cut and falling mortgage rates could potentially stimulate market recovery, with improved affordability and increased listings expected to attract buyers in the coming months. (Zillow)

Sure, you can invest in stocks or bonds, but can you live inside an index fund? No. Real estate wins because, at the end of the day, you can slap some paint on it, plant a tree in front, and tell yourself it’s gaining value. Let’s go!