Business
US Home Prices Soar To New Heights: Redfin Data Reveals Record-Breaking Numbers
The US housing market continues to defy expectations, with home prices reaching unprecedented levels, according to the latest data from Redfin. The real estate brokerage firm’s findings indicate that the median home price in the United States has surged to an all-time high, signaling a remarkable turnaround in the market since the pandemic-induced slump.
As of last month, the median home price in the US stood at a staggering $405,000, surpassing the previous peak recorded in June 2022. This remarkable upswing represents a 5.5% increase from the same period last year and a 2.5% rise from the previous month.
The Redfin report highlights the persisting supply and demand imbalance as a primary driver of the price surge. With more buyers entering the market and a shortage of available homes, sellers are reaping the benefits of a highly competitive landscape. The data reveals that the average US home sold for approximately 1.5% above its list price, a clear indication of the intense bidding wars prevalent in the market.
The West Coast, particularly California and Washington, continues to lead the charge in terms of price growth. In San Francisco, the median home price skyrocketed to a whopping $1.4 million, while in Seattle, it reached $820,000. Other notable mentions include New York, where the median home price hit $550,000, and Miami, which saw a record-breaking $430,000.
While the luxury segment is driving the overall price growth, the affordable and mid-range segments are also experiencing significant appreciation. The Redfin data shows that homes priced between $400,000 and $700,000
witnessed the most substantial price increases, with a 7.5% year-over-year jump.
Experts attribute the sustained price growth to various factors, including low mortgage rates, a robust economy, and the ongoing migration to suburban areas. As remote work becomes increasingly prevalent, buyers are seeking larger homes with more amenities, further fueling the demand for upscale properties.
However, concerns about affordability and sustainability are growing. With home prices outpacing wage growth, many potential buyers are finding it challenging to enter the market. The Redfin report notes that the average homebuyer needs to spend approximately 28% of their income on mortgage payments, exceeding the traditional affordability threshold of 20%.
As the housing market continues to break records, industry experts are keeping a close eye on the potential risks and challenges ahead. While the current momentum is undeniable, concerns about a potential price correction and the long-term implications of the affordability crisis are simmering just below the surface.
For now, however, the US housing market remains a seller’s paradise, with home prices showing no signs of slowing down. As the market continues to evolve, one thing is certain – the US housing landscape is undergoing a significant transformation, and the implications will be far-reaching
Business
U.S. Air Travel in Crisis as 13,000 Air Traffic Controllers Work Without Pay Amid Government Shutdown
U.S. Air Travel in Crisis as 13,000 Air Traffic Controllers Work Without Pay Amid Government Shutdown
The United States is facing a deepening aviation crisis as nearly 13,000 air traffic controllers continue to work without pay for over a month due to the prolonged federal government shutdown, the Federal Aviation Administration (FAA) has said.
The shutdown, now entering its second month, has caused severe disruptions across the country’s air transport system, grounding hundreds of flights and leaving thousands of passengers stranded.
On Sunday morning, the FAA issued a ground stop at Newark Liberty International Airport, one of New York’s busiest air hubs, with average delays stretching beyond three hours.
Officials warned that disruptions could last into Monday as staff shortages cripple flight operations.
At least half of America’s 30 major airports are grappling with critical manpower shortages. The U.S. Transport Secretary, Sean Duffy, confirmed that more flight cancellations are imminent to “ensure public safety.”
“Flights will be cancelled across national airspace to make sure people are safe,” Duffy said during a television interview on Sunday.
Air traffic controllers, like other essential federal workers, have been compelled to remain on duty despite not receiving pay.
They are among thousands affected by the funding deadlock between the Republican-controlled Congress and the Democratic-led Senate.
The FAA, in a statement, appealed to lawmakers to end the shutdown and allow workers to receive their wages, warning that the current situation could trigger further operational breakdowns.
“The shortage means we have had to reduce the flow of air traffic to maintain safety,” the agency stated. “This may result in delays or cancellations.”
According to flight-tracking platform FlightAware, nearly 4,500 flights across the U.S. were delayed and more than 500 cancelled on Saturday alone.
In New York, the nation’s busiest airspace, about 80% of air traffic controllers were absent heading into the weekend, the FAA said.
The resulting gridlock has left airlines scrambling to manage schedules and passengers stranded in terminals.
Secretary Duffy acknowledged the growing strain on aviation workers, noting that many controllers were under “a great deal of stress” as they try to balance their duties and family responsibilities without pay.
“They don’t make a lot of money,” he said.
“Some of them are the only breadwinners in their households. They’re being forced to choose between going to work without a paycheque or finding side jobs just to put food on the table.”
The shutdown stems from a budget impasse in Washington.
A Republican-backed funding bill has failed more than a dozen times to pass the Senate, while Democrats have insisted on conditions to protect social welfare programmes.
They are demanding an extension of health insurance tax credits and a reversal of President Donald Trump’s cuts to Medicaid, which supports millions of low-income, elderly, and disabled Americans.
Meanwhile, Trump has accused Democrats of “holding the government hostage for political gain,” while opposition lawmakers blame the administration’s intransigence for the crisis affecting federal workers and public services.
As the shutdown drags on, pressure is mounting on both sides of the political divide to reach a compromise.
Labour unions and aviation experts have warned that prolonged staff shortages could compromise safety and lead to a cascading effect on the global aviation network.
For now, the FAA insists it will maintain operations under reduced capacity — but warns that the situation is unsustainable.
“The safety of the travelling public remains our top priority,” the agency said. “But our workforce must be supported. America’s airspace cannot run on goodwill forever.”
Business
Gold Rush Chaos Rocks Northwestern Zambia
Gold Rush Chaos Rocks Northwestern Zambia
A sudden gold rush in northwestern Zambia has degenerated into violence as thousands of fortune seekers stormed the region following viral social media claims that the precious metal could be easily found beneath the surface.
The unverified reports, which spread rapidly earlier this year, triggered a massive influx of people from different parts of Zambia and neighbouring countries, overwhelming local communities and sparking tension with security forces.
According to reports, hundreds of police officers deployed to the area to curb illegal mining activities were confronted by hostile miners.
Some officers were also accused of collecting bribes from the illegal operators, further fuelling public outrage and mistrust.
In a swift move to restore order, a delegation of senior government officials, including the Minister of Defence and the Minister of Home Affairs, visited the affected communities to assess the situation and engage with local leaders.
A government statement described the unrest as “unacceptable” and warned against spreading false information capable of inciting violence.
Authorities also assured residents of their commitment to ensuring peace and protecting legitimate mining operations.
Officials said the chaos was largely driven by misleading social media posts suggesting that gold deposits were easily accessible in the area.
The posts prompted thousands to abandon their livelihoods in search of quick wealth, leading to illegal mining and lawlessness.
Experts have warned that such misinformation can have devastating consequences, including environmental destruction and loss of lives.
They also noted that the growing trend of unregulated artisanal mining across Zambia poses a serious challenge to sustainable development.
Zambia has witnessed several gold rush incidents in recent years, driven by rising global demand for the commodity and limited economic opportunities in rural communities.
Analysts say the latest unrest reiterates the need for the government to strengthen control over the mining sector, improve public awareness, and create safer opportunities for artisanal miners within a regulated framework.
Authorities have since intensified security presence in the region and appealed to residents to cooperate with law enforcement agencies to restore peace and normalcy.
Business
U.S. Yields to Pressure, Drops Mali from Visa Bond List
U.S. Yields to Pressure, Drops Mali from Visa Bond List
The United States has quietly withdrawn Mali from its controversial Visa Bond Pilot Programme, ending weeks of diplomatic tension with the West African nation just days before the policy was due to take effect.
In an update released on October 23, 2025, the U.S. Department of State confirmed that only six African countries — Mauritania, São Tomé and Príncipe, Tanzania, The Gambia, Malawi, and Zambia, remain subject to the visa-bond requirement, with implementation dates ranging from August to October 2025.
Mali, which was initially included in the October 8 listing, was noticeably omitted from the revised roster, a move interpreted by observers as a diplomatic backtrack following Bamako’s strong response.
According to the State Department, the initiative is backed by Section 221(g)(3) of the U.S. Immigration and Nationality Act (INA) and the Temporary Final Rule governing the pilot scheme.
It said the decision was informed by data from the Department of Homeland Security on B-1/B-2 visa overstay rates among nationals of selected countries.
The visa-bond policy, which empowers U.S. consular officers to demand a refundable bond of up to $15,000 from certain visa applicants to guarantee their return, had sparked immediate outrage in Bamako.
Malian authorities denounced the measure as unfair and discriminatory, arguing that it singled out their citizens without justifiable cause.
In a rare show of diplomatic defiance, the Malian government responded by introducing a reciprocal visa-bond rule targeting U.S. travellers.
That tit-for-tat decision appeared to have forced Washington’s hand. With the potential for a full-blown diplomatic rift looming, the U.S. eventually removed Mali from the list, easing tensions between the two countries.
Analysts say the U.S. retreat underscores Washington’s desire to avoid deepening hostilities with Mali, which in recent years has redefined its foreign alliances and taken a more assertive stance in global diplomacy.
Bamako’s firm response, they argue, signalled its readiness to confront what it perceives as unilateral or prejudicial policy moves.
By stepping back, the U.S. has effectively prevented a visa-related dispute from escalating into a broader diplomatic impasse, even as other African countries remain under the visa-bond scheme.
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