MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 7/13/2026 – 7/20/2026

Did You Know?

* Housing is now the #1 political issue with all politicians claiming to have the cures and touting their policies for more cures…… The cost of housing looms large for young American voters heading into the 2026 midterm elections. CNBC’s All-America Economic Survey found respondents between 18- and 34-years-old said it was their top issue, as did men between 18- and 49-years-old.

* The key to the success of solar power is consistency…… storage of power when the sun is not shining. China has developed a group of battery banks that together have enough power to keep all of Texas and California going on a peak summer day. China is targeting 300 gigawatts of battery storage by 2030….. enough to power 300 million+ homes. (WSJ)

* Americans filed 5.7 million applications last year to start new businesses, according to the Census Bureau, the most in the two decades the government has kept track. New business applications through the first half of this year continued to climb. The past 5 years have seen 5 million-plus applications every year! (NY TIMES)

*  Is online shopping better for the planet? A delivery van drops off dozens of packages in one neighborhood route, which burns less fuel per item than a personal car making a dedicated round-trip. Large storage facilities run more efficiently per square foot than brick-and-mortar storefronts, which require high energy for constant customer lighting, open doors, and heavy climate control. Returns and packaging diminish this notably.

* Build codes that break up massing often use different materials to make the building ‘blend’…..sadly the aesthetics are often rather hideous…

* My country of birth – South Africa – teaches Life Orientation, a mandatory core subject from Grades 7 through 12. It equips learners with personal, social, intellectual, emotional, and physical growth skills, focusing on holistic development, health, citizenship, and career preparation, along with basic personal financial skills. 39 US states now require personal finance courses for high school graduation, making significant progress in financial literacy education. California, Delaware, Colorado, and Hawaii have newly mandated that students take a semester-long personal finance course to graduate from high school, impacting an estimated 2.3 million high school students. Kentucky and Texas strengthened their existing policies, transitioning from embedded personal finance content within other courses to dedicated stand-alone courses. YAY!!!!

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage inched higher by 6bps to 6.55% as of July 16, 2026, from 6.49% the previous week, marking the third consecutive week with increases, according to data compiled by Freddie Mac. “Purchase application demand has weakened recently”, said Sam Khater, Freddie Mac’s Chief Economist. “Although housing affordability is more favorable and housing inventory continues to rise, thus the backdrop for prospective homebuyers is modestly improving.” Contracts to buy existing US homes fell in June as elevated mortgage rates continued to weigh on buyer demand, remaining above levels seen at the start of the year. Meanwhile, minutes from the FOMC’s June meeting showed that only a few policymakers favored a rate hike, although renewed hostilities in the Middle East could reinforce inflationary concerns. Markets continue to price in at least one Federal Reserve rate hike by the end of 2026.

Source: Freddie Mac