🏠 How much the FRIENDS apartment would cost today

According to Insider, the outlook has never been bleaker for first-time homebuyers. 

Astronomical home prices + surging interest rates - new home builds = few options and stiff competition for young people.

In 2022, only 26% of all home purchases made were by first-time buyers, the lowest percentage ever recorded by the National Association of Realtors. And the median age of first-time buyers is creeping up — a little over a decade ago, that age was 30; last year, it was 36. 

Is there any hope? Well, in 2021, two bills were introduced by House Democrats: the First-Time Homebuyer Act and the Downpayment Toward Equity Act. BUT, will they get passed? It's tough to say (and we don't like to get political here, so we'll let you draw your own conclusions 🙃). 

SPILLING THE (REAL)TEA

It's just like on Love Island — being single makes you vulnerable. Paying the bills on your own in the U.S. is becoming increasingly expensive compared to married couples. Here are some tips to save money.

Everyone's throwing noodles at the wall trying to help the homeless population. Birmingham, Alabama, is introducing small villages of “micro shelters” where people can temporarily reside. 

Abandoned, unfinished apartment buildings and homes across China have drained the bank accounts of homebuyers who fronted the money and never saw their future dwellings come to fruition. About 90% of properties in China are sold before they're built.

Imagine you inherit the family estate — but you can't afford to keep the lights on. Energy bills are skyrocketing across the U.K., and homes passed down through generations are hitting the market because the upkeep is simply too expensive.

Let's end on a more positive note. A fire-damaged mansion in Tennessee (😬 we promise there's a happy ending) was purchased for an estimated $1.5 million by a family that plans on renovating the home and documenting the process on Youtube.

TIP OF THE WEEK

Where there's way to make money, there's a scam. Hence why fraudulent vacation rental properties are running rampant. Here's how to spot a scam, according to HuffPost:   

1. Trust your gut. If a listing seems too good to be true (amazing location, impressive amenities, and a significant price difference compared to others in the area), it probably is.

2. Watch for red flags. A host should never ask you to connect outside of the booking platform, request that you send them payment outside of the app, or pressure you to book ASAP.

3. Read the reviews. If a property has negative reviews or doesn't have a lot of reviews at all, this could be your sign not to book.

4. Investigate the location. Check the map and make sure the details and amenities promised in the listing add up. Go the extra mile by doing a Google image search to see if the host is using stock or another property's photos.

WHAT'S BREWING

📚 What we're reading: "8 Rules of Love: How to Find It, Keep It, and Let It Go" by Jay Shetty.

🎧 What we're listening to: "How to (Legally) Avoid Taxes by Investing in Real Estate" on the Real Estate Rookie podcast.

👀 What we're watching: The Miley Cyrus music video for her record-breaking single "Flowers". ICYMI: The song was released on ex-husband Liam Hemsworth's birthday, and is a lyrical spin on the Bruno Mars song "When I Was Your Man." There have been some wild rumors since it released, including that the singer shot the video at a house where Hemsworth had affairs (power move!).  

🛒 What we're adding to our shopping cart: This Cast Iron Skillet. And here's how to clean it, according to Bon Appétit. 

TV TRIBUTE

If the second season of "White Lotus" has you looking up flights to Sicily, good news: You can book a stay at the palazzo featured on episode three and enjoy a personal chef, butler, and an on-call concierge service. 

ONSCREEN ESTATES 

Here's how much the fictional homes in these iconic movies and TV shows would cost today, according to La Jolla realtors:

The Fresh Prince of Bel Air five-bedroom, five-bathroom mansion in Bel Air, Los Angeles, California: $9,000,000.

The Full House five-bedroom, four-bathroom three-story Victorian house in Lower Pacific Heights, San Francisco, California: $3,500,000.

The Holiday two-bedroom cottage in Holmbury St Mary, Surrey, England: $2,450,000.  

The FRIENDS two-bedroom, one-bathroom apartment in Manhattan, New York: $2,000,000.

Carrie's one-bedroom, one-bathroom apartment on Sex and the City in Upper East Side, Manhattan, New York: $700,000. 

The Dursley's three-bedroom, two-bathroom house in the Harry Potter series in Surrey, England: $615,000.  

Max and Dani's three-bedroom, two-bathroom house in Hocus Pocus in Salem, Massachusetts: $520,000.  

The Notebook five-bedroom, five-bathroom house in Seabrook, South Carolina: $480,000. 

Charlie's two-bedroom, one-bathroom house in the Twilight series in Forks, Washington: $305,000.