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In 2020, the COVID-19 pandemic brought pandemonium to the housing market; prices and interest rates dropped as people sought more space to shelter-in-place. Five years later, we’re seeing a significant shift in how many people who bought a home then feel about their choices. We’re keeping you updated every week on the latest news in the home improvement world, recommended reads, deals and sales worth your while, and more. In this installment of our news digest, we’ll tell you about Solo Stove’s unlikely competitor, updates on the hurricane season outlook, joy-driven renovations, and more.
Pandemic Fuels Buying Frenzy—and Regret
It’s been quite the rollercoaster ride for the housing market since 2020. Falling prices and interest rates sparked a buying frenzy amongst people who wanted to take advantage of the opportunity to get more space for once-in-a-lifetime deals. But did some folks buy to quickly? According to a new study by Opendoor, the answer is ‘yes’—and it’s true for most people, too. According to the study, a whopping 94 percent of Gen Zers who purchased a home regret their purchase. 86 percent of Millenial buyers expressed regret, as did 48 percent of Baby Boomers. Why so much second-guessing? Different generations had different answers. Gen Zers said that they simply didn’t consider if the homeowner lifestyle was the right fit. 37 percent of Millenials said that they had underestimated maintenance costs as well as varying interest rates and the rate of inflation. The diminishing availability of remote work has also forced many of these homeowners to reconsider their long-term investment. Another shocking number in the study: 91 percent of first-time home sellers says that pandemic-era mistakes influenced them to put their houses on the market. That’s a lot of regret.
Homeowners Choose Renovations That Spark Joy; The Hurricane Season Outlook Gets an Update; Tariffs Make Solo Stove Feel the Heat
Forget ROI—homeowners are choosing renovations based on a different metric: how much joy each will bring them. Thumbtack surveyed 1,000 homeowners to find out if ROI or happiness made them prioritize certain projects over others, and the response was overwhelmingly in favor of the happiness metric. 84 percent of homeowners said their own joy took priority over ROI, with 68 percent of the group indicating that they were planning to sell eventually.
Hurricane season officially starts in June, but researchers and meterologists are building a comprehensive picture of what it might look like. The latest update comes from The Weather Company and Atmospheric G2: while there are fewer named storms expected, a greater percentage of the storms may threaten land and lead to devastating floods, winds, and more. Hold onto your hats.
Solo Stove is a big name in fire pits, but the brand may the one feeling the heat with impending tariffs. The stainless steel fire pits are mostly made in China, and the impending U.S. tariffs on Chinese-made products are forcing the company to revisit its spending and prices. Breeo, a small manufacturer based in Lancaster County, Pennsylvania, sells their fire pits at a slightly higher price, but believes the tariffs will give them a leg up and even out the competition: they’re currently describing their products as “tariff-proof”. We compared Solo Stove and Breeo products in a head-to-head comparison—see which brand we liked better.
Deals Worth Your Dime
This near-$300 Dreo tower fan is on sale at Walmart for less than $60. The Aerogarden Harvest Elite is on sale for under $70 on Amazon (and makes a great Mother’s Day gift!). The Birdfy Smart Bird Feeder with Camera is also on sale on Amazon at 41 percent off.
Recommended Reads
We spoke to Brian Brigantti—aka @RedleadRanch on Instagram, YouTube, and TikTok—a social media-famous homesteader about his gardening journey. He also shared his top tips for beginner gardeners.
