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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. While national active housing inventory for sale at the end of March 2025 was still 20% below pre-pandemic March 2019 levels, on a year-over-year basis national active listings are up 29% between March 2024 and March 2025. This indicates that homebuyers have gained some leverage in many parts of the country over the past year. One of the biggest year-over-year increases is happening in Californiawhere active inventory for sale is up 50% year-over-year. Despite the 50% year-over-year jump in active California housing inventory for saleincluding both single-family homes and condosCalifornia at the end of March 2025 still had 20% fewer homes for sale than it did in pre-pandemic March 2019. But more California housing markets are climbing out of that inventory deficit. And if the current trajectory holds, California could soon be out of its pandemic housing boom era inventory hole. Among Californias 36 major counties with at least 100,000 residents, nine have more active housing inventory for sale in March 2025 compared to pre-pandemic March 2019. The other 27 major California counties still have inventory below pre-pandemic March 2019 levels. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); In housing markets where active inventory for sale rises significantly, homebuyers are gaining leverage. In housing markets where active inventory for sale has shot up above pre-pandemic 2019 levels, homebuyers have gained considerable leverage relative to past years. Homebuyers in San Francisco (in particular San Francisco propers condo market) had a lot more leverage recently than homebuyers in, say, Orange County.
Category:
E-Commerce
If youve followed Apple for any length of time, youve no doubt come across the notion that the company doesnt rush into adopting cutting-edge technology; instead, it waits until it can do it right. We dont feel an impatience to be first, CEO Tim Cook told Bloomberg in 2017. Our thing is to be the best and to give the user something that really makes a difference in their lives. But Im starting to wonder if something else is going on. Sure, a lot of Apples Android competitors have sometimes been accused of throwing features at the wall. These days, though, I think their hardware is often just markedly betterand it hits the market earlier. {"blockType":"creator-network-promo","data":{"mediaUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/03\/multicore_logo.jpg","headline":"Multicore","description":"Multicore is about technology hardware and design. It's written from Tokyo by Sam Byford. To learn more visit multicore.blog","substackDomain":"https:\/\/www.multicore.blog","colorTheme":"blue","redirectUrl":""}} There have certainly been times when Apple has waited and knocked it out of the park with its own implementation of a new component or product category. Touch ID was far faster and more reliable than any previous fingerprint reader. Apple Pay was a comprehensive use case for Near Field Communication that worked seamlessly compared with prior solutions. The Apple Watch might not have been perfect at launch, but it was (and is) light years ahead of other smartwatches. Other examples fall into a gray area. Take wireless charging. Having to create another device you have to plug into the wall is actually, for most situations, more complicated, Apple senior VP Phil Schiller said in 2012. Five years later, the iPhone X and 8 launched with Qi charging that worked the exact same way, without any particular special sauce. Today, Apple has by far the most convenient setup with its MagSafe ecosystem, and it has set the bar for the new Qi2 standard. But that doesnt change the fact that it was years behind on the basic functionality. More recently, there have been cases in which Apple is simply late. AI is an obvious example, but camera hardware is more pertinent. For many years, Apple could and did lay claim to having the best phone camera around. But its impossible to make that case today if you have any experience with the top Android phones on the market. Some of that comes down to software tuning, but hardware plays an equally big role. In fall 2023, Apple introduced its tetraprism camera to the iPhone 15 Pro Max, upping the focal length from 3x to 5x. Apple presented this as a new approach to lens design, and in some ways it is; it doesnt have the characteristic rectangular shape of periscope telephoto lenses on other Android phones, although the principle is the same. But Apple couldnt claim any major performance breakthrough, except over itself. Take the Xiaomi 13 Ultra, released at the start of that year; its 5x telephoto lens was paired with a bigger sensor, and the difference in clarity was stark. Apple had been rumored to be lining up suppliers for periscope telephoto cameras since 2020, and even had filed patents on the technology in 2016, but it doesnt seem to have gained anything by waiting so long to bring the concept to market. Huawei and Oppo, meanwhile, were shipping impressive periscope cameras back in 2019. It was a similar situation with 48-megapixel image sensors, the main new feature on the iPhone 14 Pro camera in 2022. Again, its not clear what took Apple so long to introduce thisthe first 48-megapixel sensors made their way to Android phones in early 2019, and they worked the exact same way by combining four pixels into one for better 12-megapixel shots. In recent years, the state of the art in Android phones has been 1-inch image sensors, the same size youll find in enthusiast compact cameras like Sonys RX100 line. Once youve used one, its hard to go back; these phones take photos that just dont look like they came from a phone. The technology is mature, but at least from the outside, Apple does not seem all that interested in keeping up. Its possible that Apples scale makes it harder for the company to secure cutting-edge components in the quantities it requires for each launch. The first tetraprism lens was only available on the iPhone 15 Pro Max before making it to the smaller iPhone 16 Pro the following year, for example. Android OEMs ship so many more individual models that its easier for them to reserve high-end parts for certain flagships. Ive been thinking about this dynamic lately when reading reports of Apples belated entry into folding phones, a category Samsung kicked off in 2019albeit with some well-publicized hiccups. Last month Bloombergs Mark Gurman reported that Apple plans to use technologies from a slimmer iPhone this year in a folding phone that could land as early as 2026. Im not sure this checks out. According to Gurman, the 2025 iPhone Air will be around 2 millimeters thinner than current models; the iPhone 16 Pro is 8.3 millimeters thick. The thinnest folding phone out there today is Oppos Find N5, which has a near-invisible crease in its display and is just 4.2 millimeters thick when unfolded. At this point, what could Apple really be learning by producing a phone closer in thickness to the iPhone 16 Pro? The Find N5 isnt just impressive hardwareits a phone that makes you wonder how much thinner it could even be. Make it a fifth of a millimeter thicker, and Im not sure it would still fit its USB-C port. (Gurman does note that Apple also plans to investigate the possibility of port-free iPhones.) But more to the point, the Find N5 is already on the market. At this point, I would not expect Apples first attempt at a folding phone to break new ground on a technical level. Six years on from the original Galaxy Fold, it seems unlikely that foldable hardware is going to get meaningfully better than whats out there right now. Apples software is broadly excellent and its ecosystem is unparalleled, which is why I continue to buy iPhones myself. The Mac, iPad, and Apple Watch really are the best products available in their given categories, so Ill always want a phone that works well with them. But something is going on with the iPhone. Its simply no longer the case that Android companies cant compete on hardware or design. If Appleever wants to dazzle the world with mobile devices againor at least hardware obsessives like methe window may be closing. {"blockType":"creator-network-promo","data":{"mediaUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2025\/03\/multicore_logo.jpg","headline":"Multicore","description":"Multicore is about technology hardware and design. It's written from Tokyo by Sam Byford. To learn more visit multicore.blog","substackDomain":"https:\/\/www.multicore.blog","colorTheme":"blue","redirectUrl":""}}
Category:
E-Commerce
If the tariff-triggered drop in your 401(k) balance has got you sobbing into a pint of Ben & Jerrys, youre not alone. U.S. and global markets have yo-yoed in reaction to the current administrations inexplicable tariff wars. And since this market downturn is a direct result of American foreign economic policy, we may not be able to just wait for a recovery in the next few months (or years). While theres no promise of fiscal unicorns and rainbows at the other end of this, economic history may offer some guidance. The Smoot-Hawley Tariffs None of us has ever lived through a tariff-triggered market crash, which is part of the reason why were all chewing our fingernails. But just because this is a new worry for modern investors doesnt mean our current situation is unprecedented. America has been through a tariff trade war before, thanks to the work of the improbably named Utah Senator Reed Smoot and Oregon Representative Willis Hawleytwo men without a single first name between them. You may only remember the Smoot-Hawley tariffs of 1930 as part of the mind-numbing lecture Ferris Bueller missed on his day off, but this act raised import duties in an attempt to protect American farmers and businesses. Unfortunately, the Smoot-Hawley tariffs prompted retaliatory tariffs, which further entrenched the financial crisis known as the Great Depression. Heres why the history with Messrs Smoot and Hawley is important: it gives us a precedent to look to. Any financial adviser worth their salt will tell you that past performance is no guarantee of future returnsbut understanding how markets have reacted in the past can offer some perspective on how markets may react in the future. Whats different about this market volatility The current financial turbulence stems from the presidents tariffs rather than a market crash like the 2008 housing bubble collapse. Thats important because we know how to plan for the worst-case scenario of a market crash. While anything but fun, market crashes are relatively common and repeat on a somewhat predictable seven-to-ten-year patternfollowed by an average recovery time of 1.4 years. Since our current heartburn-inducing market ride stems from Americas global retaliatory trade war, we cant necessarily count on the natural rebound that has occurred after every other destabilizing market event in recent memory. Any countries angry about Americas tariffs could make financial or policy changes that will continue to affect the U.S. market for years to come. There is simply no way of knowing what long-term effects there will be on our investments. Let tariff history be your guide Even though none of us can personally remember a tariff trade war, we can learn from the devastating effects of Smoot and Hawley teaming up, bleach and ammonia style, to impose massive tariffs. Looking back to see how other countries reacted to Americas isolationist financial and foreign policy in the 1930s and how the market responded to the subsequent tariffs being flung back and forth across borders like a game of hot potato, we can make plans and predictions based on the historical worst-case scenario. Specifically, Smoot and Hawley showed us that tariffs often lead to retaliatory tariffs, which can have a negative impact on the market. Even though there is no way of knowing what will happen, its probably a good idea for investors to buckle up for a bumpy ride. Best practices for surviving Trumps tariffs You can get to the other side of this economic nightmare if you keep a cool head and follow these strategies: Remember that the market will eventually recover For anyone who is 10 or more years out from retirement, you can feel confident that things will improve. Unless were in a dogs and cats living togethermass hysteria! type of extinction-level event, consider ignoring your 401(k) balance for a little while. Your investments will do better if you back slowly away from your portfolio and let the market recover. Forewarned is forearmed Just because the market will return to some semblance of normalcy without any effort on your part doesnt mean you should do nothing. Now is the time to shore up your finances by paying off high-interest debt, setting aside money into an emergency fund, finding ways to lower your expenses, and starting some secondary income streams in case of job loss or involuntary retirement. All of these actions will help your finances whether were in for a long stretch of tariff-induced market nastiness or things are about to come up roses. Invest conservatively as you get closer to retirement Your asset allocation is supposed to get less risky as you approach retirement, since that will protect your principal in case of a market downturn at the wrong time. If youre planning to retire in the next few years, you can make sure any new contributions you make to your retirement accounts are invested in low-risk-lower-return assets, like bonds, treasury funds, CDs, or other cash equivalents. While these investments arent going to grow like the market normally would, the market also may not grow like it normally would. Stashing your contributions into these kinds of investments will offer you more peace of mind that the money will be waiting for your retirement. You still have time for market recovery Once youre no longer in the flush of youth, you may assume you dont have the luxury of investing for the long-term. Its not like a 60-year-old can afford to wait out the market like a 30-year-old can. Except, you can invest like you have decades ahead of you. Because you do! Even while you approach retirement and during your retirement, you will keep a portion of your portfolio invested for the long haul. When you retire, you dont need all of your money right away. Youll keep a significant chunk invested for a longer time horizon, which helps ensure that your money will last your entire life. How to respond if youre already retired By far, retirees are the most vulnerable to a protracted market plunge. Going back t work or waiting out the market weirdness are generally off the table for retirees, so it can feel like there are no good choices. But that doesnt mean retirees are helpless in the face of larger economic forces. As with current workers and near-retirees, retirees can make plans now for the worst-case scenario. This might include: Reducing expenses: This is easier said than done, considering the price of eggs and everything else, but start thinking about ways to downsize your costs. Selling items: If you have a lifetimes worth of home goods, collectibles, or Precious Moments figurines sitting around, you may want to start selling some off. This could be a good way to increase your retirement income without having to take money from your investments. Considering a reverse mortgage: Since your home is likely your most valuable asset, a reverse mortgage could be a decent way to access cash from something other than your investments. Dont panicplan Panic is the leading cause of selling at the markets low point. Instead of selling off your investments to staunch the flow of tariff-induced anxiety, make a plan instead. If you assume the market may be bumpy for the foreseeable future, how will that change your financial decisions? Making investment choices based on that assumption will serve you well no matter what happens. In the best-case scenario, things will recover sooner than expected and this will be a footnote in your investing career. But even in the worst-case scenario, planning for volatility will help you make more rational decisionsand protect you from making your paper losses real by getting out of the market. It may be a bit of a grim sounding win-win, but its a heck of a lot better than crying into a pint of Chunky Monkey.
Category:
E-Commerce
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