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Newsweek
6 days ago
- Business
- Newsweek
Could the Recession Shift Housing Sales? What to Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Rising concerns over a possible recession have prompted many Americans to question how such an economic downturn could reshape the U.S. housing market. A new report found that nearly 30 percent of prospective homebuyers believe a recession could make them more likely to purchase a property. Experts have noted that recessions have historically led to shifts in housing sales, prices, and mortgage rates. Whether these changes benefit buyers or strain current homeowners remains to be seen. Why It Matters A potential 2025 recession could impact Americans facing inflation, leading to volatile interest rates and widespread economic uncertainty. A recession has the potential to lower home prices and mortgage rates, offering discounted buying opportunities. However, broad economic impacts could challenge financial stability for homeowners and reshape the real estate landscape. Understanding who stands to gain or lose—and why—could help buyers, sellers, and policymakers navigate upcoming changes in the U.S. housing market. What To Know Past recessions have generally led to reduced demand in the housing sector, slowing sales and, in several cases, causing prices to dip. During downturns, consumer confidence declines, leading to fewer major purchases. Sellers may respond by lowering expectations, potentially giving buyers more negotiating power. A For Sale sign outside a multimillion dollar residential home in Reno, Nevada, on May 6, 2024. A For Sale sign outside a multimillion dollar residential home in Reno, Nevada, on May 6, 2024. ROBYN BECK/AFP via Getty Images Danielle Hale, chief economist at previously told Newsweek the market's reaction varies; while the 2020 recession saw a quick rebound, the 2007–2009 financial crisis led to steep price drops and a lengthy recovery. She said that if a recession emerges in 2025, existing home sales might not fall much further, but greater financial challenges for homeowners could increase supply and soften prices. Potential for Buyer Incentives Amid Falling Mortgage Rates In response to economic slowdowns, the Federal Reserve typically lowers interest rates to stimulate economic activity, which often results in decreased mortgage rates. This can make home loans more affordable, increasing buyers' purchasing power. Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, previously told Newsweek that mortgage rates generally decline during recessions, noting that the rate of decline hinges on the severity of the downturn. Survey: Buyers See Opportunity in a Recession The site visitor survey from the first quarter of 2025 found nearly 30 percent of surveyed homebuyers said a recession would make them more likely to purchase a home. Lower prices and more flexible sellers appear to be key factors driving this sentiment, according to the survey's findings. Whether the U.S. will enter a recession in 2025 remains a matter of debate. Some economic indicators, such as slowing retail sales and policy uncertainty—including impacts from tariffs—suggest a possible downturn, while other measures indicate ongoing resilience. The national median sale price for a home reached $438,357 in April, according to Redfin data. However, regions such as West Virginia, Ohio, and Michigan continue to offer lower median home prices, with West Virginia at $249,000 as of December 2024, according to This contrast presents options for buyers seeking affordability versus those facing higher costs in other states. What People Are Saying Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "Some buyers could be associating a recession with opportunity, as prior recessions have produced declining home prices. However, it's difficult to say if a potential one in this economic environment would produce some of the dramatic declines we've seen in the past. "Inventory remains low in some locations, and with prices and interest rates hovering around all-time highs, there's not as much incentive to sell and relocate unless you have to. The unfortunate reality is while you may see some minor dips in prices, there's housing market will more than likely remain unchanged." Drew Powers, the founder of Illinois-based Powers Financial Group, told Newsweek: "For those who believe their careers are relatively recession-proof and who have already been home shopping or waiting on the sidelines for the right time, a home purchase may feel like the right move. While the stock and interest rate markets may decline during a recession, a bright spot may appear in home buying: there may be fewer bidding wars, there may be more motivated sellers, and holding a hard asset like real estate may feel like a better place to put your money at that time." Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "In a recession, we'd likely see downward pressure on home prices. As more homeowners fall behind on their mortgages, some will be forced to sell or face eviction. That brings supply back onto the market, which usually leads to declining prices." What Happens Next Market participants are monitoring Federal Reserve policy moves, employment data, and inflation numbers for indications of a possible 2025 recession. "Right now there are many homebuyers with moderately strong cash positions who have been outbid by someone with deeper pockets. That bidding war may not happen during a recession, and even the playing field for everyone," Powers said. Any sustained changes in interest rates, employment trends, or housing supply could rapidly reshape buying and selling conditions in the coming months. "Recessions can reset overheated markets. If inflation cools and the Fed lowers interest rates, that could open the door for buyers who've been priced out," Thompson said. "Lower prices plus a potential drop in mortgage rates, even a modest one, could improve affordability." Americans should anticipate a recession potentially in the next quarter, Thompson said, which could translate to changes in the housing market. "The wild card is tariffs," Thompson said. "While tariffs could raise the cost of materials and construction, Trump's unpredictable trade policies have many unsure how much impact they'll really have on housing."
Newsweek
27-05-2025
- Newsweek
Teenage Boy Dies After Falling Off Memorial Day Parade Float
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A 13-year-old boy in Ohio died after falling off a trailer that was attached to a pickup truck during a Memorial Day parade on Monday, the Summit County Sheriff's Office (SCSO) said in a Facebook post. "Following the fall, the juvenile was struck by the dual tires of the trailer," SCSO added. Newsweek has reached out to the City of Green for further comment via email during non-working hours on Monday night. The Context Parades are a Memorial Day staple across the nation to help commemorate United States military members who gave their lives while serving. The celebration is considered by many to be the unofficial start of the summer. The parade in Green, which is midway between Akron and Canton, was one of four planned events on Memorial Day, which included a ceremony, a pancake breakfast, and a car show, according to the city's website. What To Know The teenager fell off the trailer that was being pulled by a 2024 Ford F-150 pickup truck just before 11:30 a.m. local time and sustained severe injuries, according to press releases from the SCSO and the Green Fire Department. First responders, who were on scene immediately, rendered medical aid to the boy who was then taken to Akron Children's Hospital where he was pronounced dead. While he has not been identified, the Green Fire Department's press release said the teenager attended North Canton City Schools. Local news station News 5 Cleveland reported that after teenager fell, the parade ended. Police tape is seen on the ground at the scene of a mass shooting in Monterey Park, California, on January 22, 2023. Police tape is seen on the ground at the scene of a mass shooting in Monterey Park, California, on January 22, 2023. Photo by ROBYN BECK/AFP via Getty Images What People Are Saying Green Mayor Rocco Yeargin in a statement, per ABC News: "Our hearts go out to the family at this time of terrible loss. We look to support them as a Green community any way that we can." The North Canton City Schools District in a statement, per News 5 Cleveland: "We are deeply saddened to have been informed of the passing of one of our North Canton City Schools students. There is no greater tragedy than the death of a young person, and we offer our sincere condolences and support to the family. Our crisis management team is taking action and will provide counselors and supports to students and staff throughout the district grieving this tragic loss. To respect the privacy of the family and the ongoing Summit County Sheriff's Office investigation, that is all the information we have to share at this time." What Happens Next? Authorities have not yet publicly released the identity of the boy, and it is unclear if they will due to his age. Further updates regarding the investigation will be provided by the SCSO.
Newsweek
21-05-2025
- Health
- Newsweek
Gen Z More Likely Than Boomers to Say People in Therapy Are 'Mentally Weak'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Despite often being seen as more progressive, Gen Z is surprisingly more anti-therapy than many of their elders. A new report from BetterHelp reveals a generational divide exists when it comes to the stigma of therapy, and perhaps not in the way you'd expect. Why It Matters Demand for mental health therapy has been skyrocketing in recent years. The number of U.S. adults who received psychotherapy went up from 6.5 percent in 2018 to 8.5 percent in 2021, according to a study published in the American Journal of Psychiatry this year. And while overall acceptance of therapy has been increasing in many social circles, Gen Z's view of the practice as "weak" may indicate the younger generation is becoming more skeptical when it comes to therapy. What To Know While national rates of therapy are increasing, Gen Z may be more critical of seeking help for mental health than previously believed. The age cohort, which consists of those born between 1997 and 2012, had a higher percentage, 37 percent, who said seeking counseling was "mentally weak" than the 27 percent of millennials, Gen Xers and baby boomers combined. This is despite the fact that globally and in the United States, Gen Zers are more than twice as likely as boomers to experience mild to moderate anxiety and almost four times as likely to experience severe anxiety, according to BetterHelp. Even among the Gen Zers who do go to therapy, not all are satisfied. Roughly 37 percent said their therapist doesn't understand them, and 33 percent said they fully don't trust their therapist. For those who do not go to therapy, 40 percent said cost is the main reason, and 29 percent said they do not think it will help or don't have the time. Students taking notes for a Fluence Psilocybin-Assisted Therapy certificate training program in Portland, Oregon, on May 9, 2023. Students taking notes for a Fluence Psilocybin-Assisted Therapy certificate training program in Portland, Oregon, on May 9, 2023. ROBYN BECK/AFP via Getty Images What People Are Saying HR consultant Bryan Driscoll, who specializes in generational dynamics, told Newsweek: "I don't want to pigeonhole or get too political, but I do think this stat tracks with broader themes. Gen Z is more progressive, broadly speaking, than their parents, sure, but not more than closer generations. A big chunk of Gen Z has been pulled into the conservative ideology running rampant online and in certain podcasts. It's no secret that conservatives have always treated mental health like a personal failure, not a legitimate issue. "When you combine that with toxic masculinity, bootstrap nonsense, and anti-science rhetoric, it's no wonder a growing number of young people now see therapy as weak." Jaime Bronstein, a licensed clinical social worker, licensed relationship therapist and author of MAN*ifesting, told Newsweek: "Gen Z has grown up with social media as their 'therapist,' so they feel they can get help from the digital world and 'therapize' themselves. They view therapy as a long, uncomfortable process, so they would rather learn from a YouTube video or one of their favorite influencers. In addition, some Gen Zers look at the cost of therapy and would rather spend their money elsewhere if they feel they can get help from less expensive sources." Alexandra Cromer, a licensed professional counselor with Thriveworks, told Newsweek: "Gen Z is the first generation to have grown up with the internet and access to many different opinions from around the world. While this is not inherently bad, the more opinions you are exposed to, your brain tends to categorize and lump into one, so if you're exposing yourself over and over again to one point of view, or one point of view seems to be relevant in your social media feeds and for you pages, this can influence mindsets. So if a lot of Gen Zers are getting the message 'seeking therapy makes you mentally weak,' their [For You Page] might start feeding them more of that content." What Happens Next Driscoll said that Gen Z grew up "watching society collapse," and instead of help, they were inundated with grind culture, gig work and influencers telling them to toughen up. "So now we've got a generation that desperately needs mental health care being told it's weak, unmanly, or fake. If this trend keeps up, we'll see more burnout, more isolation, and a workforce too ashamed to ask for help until it's too late. And businesses will pay the price in turnover, absenteeism, and disengagement," Driscoll said. Bronstein said there are long-term consequences to not going to therapy. "Suppose you don't process your emotions, and you're feeling depressed or anxious. In that case, you might retreat and become disconnected from society, which could lead to isolation, which is highly detrimental to one's mental health. Gen Z might feel like social media is helping. However, it usually acts as a band-aid, but doesn't uncover the deeper issues that need healing," Bronstein said.
Newsweek
21-05-2025
- Health
- Newsweek
Why Are Women Skipping Their Mammograms?
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. While healthcare costs may be on the rise, one in three women are skipping their mammograms even when it's covered at $0 out of pocket. That's according to newly released data from Nomi Health, which revealed the major gap in preventative care. "The problem isn't that services like mammograms are not covered," said Chris Fong, CEO of Smile Insurance and a Medicare specialist, to Newsweek, "but more about communication." Why It Matters Breast cancer is the second most common cancer among women in the United States, and it's the second leading cause of cancer death among women in the United States, according to the CDC. While roughly 42,170 women will die from breast cancer in 2025, based on the American Cancer Society's analysis, many of those deaths can be prevented by early detection via yearly mammograms. A woman waits outside the mammogram and women's health services area on the first day of the fourth annual free health clinic at the Los Angeles Sports Arena in downtown Los Angeles September 27, 2012.... A woman waits outside the mammogram and women's health services area on the first day of the fourth annual free health clinic at the Los Angeles Sports Arena in downtown Los Angeles September 27, 2012. More ROBYN BECK/AFP/GettyImages What To Know Many women are skipping their yearly mammogram even when it's fully covered by insurance, according to Nomi Health's new report. While one in three will skip the procedure, delaying screening can result in 18 percent higher costs for breast cancer treatment. That amounts to $120,000 per episode for advanced breast cancer in unscreened patients, around $44,000 more than patients who were screened early and often. Altogether, breast cancer screening compliance improved from 59.8 percent in 2021 to 64.2 percent in 2023, the report found. Women who go without regular mammograms risk being diagnosed with breast cancer at a much later stage when health outcomes are less promising. Women without regular screenings are twice as likely to reach advanced stages (8.92 vs. 3.79 percent), according to Nomi Health. What People Are Saying Mark Newman, CEO of Nomi Health, said in a statement: "Behind every delayed diagnosis is a person, a family, and a harder road ahead. Making preventive care accessible isn't just about managing costs; it's about protecting your workforce and their loved ones." Chris Fong, CEO of Smile Insurance and a Medicare specialist, told Newsweek: "The problem isn't that services like mammograms are not covered but more about communication." "As an insurance agency, we include going over the preventative services which are covered at a $0 copay but a lot of times that piece of information is hard for our clients to retain. That is the reason why we send out reminders about covered preventative services that are covered." What Happens Next Fong said insurance companies likely need to increase communication and send out reminders to improve the rate of mammograms being done, especially when the exam is covered at a $0 copay. "The insurance can help people get access to care by eliminating the barriers such as financial, transportation, and health education," Fong said. Moving ahead, mammograms could become less accessible depending on the result of a new Supreme Court case. In April, the Supreme Court heard arguments in Kennedy v. Braidwood Management. This case is challenging the Affordable Care Act's requirement that insurers cover preventive services without cost share. If the Court rules in favor of Braidwood, private insurers would no longer be forced to cover preventive services recommended since the ACA, including mammograms.
Toronto Sun
15-05-2025
- Business
- Toronto Sun
Walmart says it will raise prices due to tariff costs after solid first quarter sales
Published May 15, 2025 • 3 minute read In this file photo taken on August 15, 2022 the Walmart logo is seen outside a Walmart store in Burbank, California. Photo by ROBYN BECK / AFP via Getty Images NEW YORK — Walmart's first quarter profit slipped and it said it must raise prices due to higher costs from tariffs implemented by President Donald Trump. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The nation's largest retailers posted strong quarterly sales Thursday and said it expects sales growth of 3.5% to 4.5% in the second quarter. Like many other U.S. companies, however, it did not issue a profit outlook for the quarter because of the chaotic environment, with stated U.S. tariff policies changing constantly. The company maintained its full year guidance issued in February. Walmart earned $4.45 billion, or 56 cents per share, in the quarter ended April 30, down from $5.10 billion, or 63 cents per share, in the same period last year. Adjusted earnings per share were 61 cents, exceeding the 58 cent projections from industry analysts, according to FactSet. Revenue rose 2.5% to $165.61 billion, just short of analyst estimates. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Walmart's U.S. comparable sales — those from established physical stores and online channels — rose 4.5% in the second quarter, though that's slowed from a 4.6% bump in the previous quarter, and a 5.3% increase in the third quarter of 2024. Shares rose almost 3% before the opening bell Thursday. Business was fueled by health and wellness items as well as groceries. Sales were weaker in home and sporting good, which was offset by robust sales of toys, automotive goods and kid's clothing, the company said. Global e-commerce sales rose 22%, up from 16% in the previous quarter. Future sales have become a concern for all retailers for a number of reasons. Many Americans have been pulling back on spending as they grow uneasy about the economy, and inflation remains elevated. Trump's tariffs on China and other countries threaten the low-price model that is at the core of Walmart's success. This advertisement has not loaded yet, but your article continues below. Trump's threatened 145% import taxes on Chinese goods were reduced to 30% in a deal announced Monday, with some of the higher tariffs on pause for 90 days. Retailers and importers had largely stopped shipping shoes, clothes, toys, and other items with the duties so high, but many will now resume importing from China in the narrow window, hoping to avoid sparse shelves this fall. Yet many retailers say they must raise prices to tariff costs. And they are also bracing for higher shipping costs fueled by a surge of companies scrambling to get their goods on ships to the U.S. Walmart has built in hedges against some tariff threats. Two-thirds of Walmart's merchandise is sourced in the U.S., with groceries driving much of that. Groceries account for roughly 60%, of Walmart's U.S. business. This advertisement has not loaded yet, but your article continues below. Still, Walmart isn't immune and said it will have to raise prices even as it works to absorb the costs of the tariffs. 'We will do our best to keep our prices as low as possible but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure given the reality of narrow retail margins,' said CEO Doug McMillon in a statement. Walmart is among the first major U.S. retailers to report financial results and the numbers can provide a hint as to the mood of the American shopper and how the tariffs are impacting its business. Earlier this month, Amazon announced higher first-quarter profit and sales that beat analysts' projections, underscoring the online behemoth's hold on shoppers looking for low prices and a wide selection in an uncertain economy. Amazon brought in foreign goods before Trump's tariffs took effect. And Amazon's president and CEO Andy Jassy told analysts during its earnings call that many of its third party sellers did the same. And because of that move, a fair amount of third-party sellers haven't changed their pricing yet, he said.
