An industry report suggests buyers gained temporary leverage in August

By Mark Huffman of ConsumerAffairs

• Sellers pulled back in August, hitting record-low new listings for the month, according to Zillow

• Buyers still active face more choices and slightly better bargaining power, but leverage is starting to fade

• Regional divides are widening, with the South shifting toward buyers while the Northeast remains hot for sellers

Home sellers took a noticeable step back from the housing market in August, according to Zillows latest market report, as affordability challenges continued to limit buyer demand.

New listings dropped 7.3% month-over-month the steepest August decline on record leaving overall inventory down 1.3% from its July peak. For buyers still searching, the pullback has created a short-lived window of opportunity.

Options are on the shelves, even if theyre not all fresh, said Zillow Senior Economist Kara Ng. Sidelined buyers should revisit their budget; mortgage rates are lower than recent years, and in some markets, sellers are more willing to deal. But dont expect this window of opportunity to stay open indefinitely.

High home prices and affordability concerns have sidelined many would-be buyers. That shift has left the market more balanced than at any point since 2018.

More time on the market

Homes are taking longer to sell averaging 27 days in August, a week longer than last year and price growth has slowed to a standstill. Zillows Home Value Index shows no year-over-year appreciation nationwide, one of the weakest readings since 2018.

Yet even as activity cooled, late-summer competition ticked slightly upward, signaling the balance may be short-lived. Buyers who can still act may want to do so soon before leverage shifts back toward sellers.

The record-low number of August listings reflects a broader trend of homeowners choosing to sit tight. Many are locked into historically low mortgage rates and remain comfortable holding onto properties that have gained 46.5% in value since February 2020.

Zillows survey of recent sellers found that 37% listed their homes after a job change. With the labor market softening, fewer forced sales may further limit inventory in the months ahead.

Regional contrasts: South vs. Northeast

While national averages show a balanced market, local conditions vary widely.

• Buyer-friendly markets: The South has seen the most dramatic shift, with former boomtowns like Miami, Tampa, Jacksonville, and Austin now firmly favoring buyers. Inventory in Seattle has surged 22% year-over-year, tipping the market toward buyers there as well.

• Seller-friendly markets: In contrast, the Northeast and San Francisco Bay Area remain fiercely competitive. Cities like Buffalo, Hartford, San Francisco, San Jose, and Boston continue to favor sellers, with supply still well below pre-pandemic norms.

Metro trends to watch

• Miami: Home values down 4.9% year-over-year, with homes taking 65 days to sell among the slowest in the country.

• Austin: A similar trend, with values down 5.8% and a 71-day median time to pending sale.

• Buffalo andHartford: Strongest seller markets, with homes going under contract in as few as 811 days.

• Chicago andPhiladelphia: Still leaning seller-friendly, but with modest year-over-year price gains around 3%.

• San Francisco andSan Jose: Despite falling prices, limited supply keeps competition high.

According to Zillow, the housing market has entered a holding pattern. Buyers have gained some temporary breathing room as sellers step back, but the reprieve may not last long. With inventory tightening again and mortgage rates showing signs of easing, both sides of the market are watching closely to see which way momentum shifts next.

The agency has highlighted which items pose a risk to consumers' health

• The FDA found that some imported aluminum and brass cookware may leach lead into food, making it unsafe.

• Affected products include Tiger White, Silver Horse, and JK Vallabhdas branded cookware sold at U.S. retailers.

• Consumers should stop using these products immediately and talk to a doctor if theyre worried about lead exposure.

Recently, the U.S. Food and Drug Administration (FDA) issued a warning about imported cookware that can release lead into your foodespecially products made of materials like aluminum, brass, or certain aluminum alloys (names like Hindalium/Hindolium or Indalium/Indolium).

Testing by the FDA and state partners showed that when some of these products are used for cooking or even storing food, lead can leach out making what you eat potentially unsafe.

Which products are affected

According to the FDA, the following items tested positive for lead leaching:

• Tiger White Kadai/Karahi (Pure Aluminum Utensils, Saraswati Strips Pvt. Ltd., India) sold at Mannan Supermarket, Jamaica, NY.

• Silver Horse Aluminium Mathar Kadai 26 (UPC 7 6554273084 5) sold at Patel Brothers, Schaumburg, IL.

• Silver Horse Aluminium Milk Pan 4 (UPC 7 6554272863 7) sold at Patel Brothers, Schaumburg, IL.

• JK Vallabhdas Aluminium Kadai (India Bazaar #3 2000000772) sold at Indiacos, Hoffman Estates, IL.
  

The FDA cautions that these are just the products tested so far other cookware could also be affected.

Whos most at risk

Lead is toxic, and no level of exposure is considered safe. But some people are more vulnerable:

• Kids and babies because of their rapid growth and developing brains.

• Pregnant or breastfeeding women because lead can affect fetal development.

• Anyone exposed long-term even if they dont see symptoms at first.

What to do if you have one of these products

• Check the FDAs list of tested cookware and see if anything you own matches.

• If it does, stop using it for cooking or food storage right away. Do not donate it, refurbish it, or give it away.
  If you think you may have been exposed to lead (especially kids, pregnant women), talk to a health care provider about testing.

The FDA is continuing to monitorthe market and test cookware more products may be added to the warning list.

Manufacturers, retailers, and importers are being encouraged to use leadleaching tests, follow FDA protocols, and make sure any cookware sold is safe.

Research highlights differences in survival, heart health, and diabetes complications

• Over nearly six to ten years, individuals with obesity and type 2 diabetes who had metabolic (bariatric) surgery showed significantly lower risks of death, heart events, kidney disease, and eye damage than those treated with GLP-1 drugs.

• Surgery led to greater weight loss and better long-term blood sugar control; it also reduced the need for medications for diabetes, blood pressure, and cholesterol.

• The study is observational, not randomized, and did not include every GLP-1 drug (especially some newer and highly effective ones), so its findings point to important differences but dont settle all questions.

For people with obesity and type 2 diabetes, treatments often come down to two major options: medications especially GLP-1 receptor agonists and surgical interventions such as gastric bypass or sleeve gastrectomy.

GLP-1 medicines have made headlines for helping with weight loss and blood sugar control, while metabolic surgery has been known for its often dramatic effects.

But until recently, few large studies had directly compared long-term outcomes, especially for major health problems like heart disease, kidney failure, eye damage, and even overall survival.

Researchers from Cleveland Clinic set out to explore exactly that. The results: bariatric surgery may be more beneficial.

Even with todays best medicines, metabolic surgery offers unique and lasting benefits for people with obesity and diabetes, researcher Ali Aminian, M.D., director of Cleveland Clinics Bariatric & Metabolic Institute said in a news release.

The benefits we observed went beyond weight loss. Surgery was linked to fewer heart problems, less kidney disease, and even lower rates of diabetes-related eye damage.

The study

The study, called the M6 study (short for Macrovascular and Microvascular Morbidity and Mortality after Metabolic Surgery versus Medicines), followed 3,932 adults who had both obesity and type 2 diabetes.
Of those, 1,657 underwent metabolic surgery (gastric bypass or sleeve gastrectomy), while 2,275 were treated with GLP-1 receptor agonist drug, including medications like liraglutide, dulaglutide, exenatide, semaglutide, and tirzepatide.

Researchers used statistical methods to balance out differences between the two groups at the start things like age, gender, and health status so that the comparison would be fairer. They looked over a median follow-up of about 5.9 years for many outcomes, and also projected up to 10 years for cumulative results.

Key outcomes measured included:

• Death from any cause

• Major adverse cardiovascular events (heart attack, stroke, heart failure)

• Nephropathy (serious kidney disease)

• Retinopathy (diabetes-related damage to the eyes)

• Measures of weight loss and blood sugar control (HbA1c)

The results

Heres how the two approaches compared over time:

• Mortality: After 10 years, about 9.0% of the surgery group had died (from any cause), versus 12.4% in the GLP-1 treatment group. This translated to a ~32% lower risk of death for the surgery group.

• Heart events (cardiovascular outcomes): Surgery was linked to about 35% lower risk of major adverse cardiovascular events than GLP-1 drugs.

• Kidney disease: The surgery group had a ~47% lower risk of serious kidney disease than the GLP-1 group.

• Eye damage (retinopathy): Risk was ~54% lower for those who had surgery.

• Weight loss and blood sugar control: Over 10 years, surgery patients lost on average 21.6% of their body weight, compared with 6.8% for those on GLP-1 meds. Blood sugar (measured by HbA1c) dropped more in the surgery group (0.86%) vs the GLP-1 group (0.23%).

• Medications needed: The surgery group required fewer prescriptions over time for diabetes, blood pressure, and cholesterol.
  

Even in the era of these powerful new drugs to treat obesity and diabetes, metabolic surgery may provide additional benefits, including a survival advantage, researcher Steven Nissen, M.D., said in the news release.

Charges included access-device crimes and possession of child sexual abuse material

• Conor Brian Fitzpatrick, 22, gets three years in prison for operating BreachForums, a cybercrime marketplace.

• He pleaded guilty to access device crimes and possession of child sexual abuse material.

• The resentencing follows a federal appeals court ruling that vacated his earlier time served sentence.

Resentencing after appeals court ruling

A New York man was resentenced Tuesday to three years in federal prison for creating and operating BreachForums, one of the worlds largest English-language marketplaces for stolen data. Conor Brian Fitzpatrick, 22, of Peekskill, had previously received a sentence of time served17 daysbut that punishment was overturned by the U.S. Court of Appeals for the Fourth Circuit in January.

Marketplace for stolen information

Fitzpatrick launched BreachForums in March 2022 after the law-enforcement takedown of RaidForums. Prosecutors said the site quickly attracted more than 330,000 members and offered access to at least 888 stolen datasets containing over 14 billion records of personal and commercial information. Among the data offered were the details of about 200 million social media users and nearly 88,000 members of InfraGard, an FBI-private sector partnership for critical infrastructure security.

Guilty plea and forfeiture

Fitzpatrick pleaded guilty to conspiracy, solicitation of access devices, and possession of child sexual abuse material. As part of his plea, he agreed to forfeit over 100 domain names, more than a dozen electronic devices, and cryptocurrency tied to the operation of BreachForums.

Justice Department reaction

Following the dismantlement of RaidForums by law enforcement, the defendant set up and administered BreachForums, an online bazaar where criminals could purchase sensitive data, said Acting Assistant Attorney General Matthew R. Galeotti. Todays sentence demonstrates the Justice Departments unwavering commitment to bringing to justice those who seek to sell stolen data to the highest bidder.

U.S. Attorney Erik S. Siebert of the Eastern District of Virginia said Fitzpatrick personally profited from the trade in stolen information and exploited child abuse material, calling the harm incalculable. FBI Cyber Division Assistant Director Brett Leatherman added that the bureau is working tirelessly to dismantle criminal marketplaces like BreachForums.

Broader context

The case was investigated by the FBIs Washington Field Office and prosecuted by the Justice Departments Computer Crime and Intellectual Property Section and the U.S. Attorneys Office for the Eastern District of Virginia. It was brought as part of Project Safe Childhood, a nationwide DOJ initiative targeting online child exploitation and abuse.

Its the first interest rate cut in about a year

By Mark Huffman of ConsumerAffairs

• Fed lowers rates by 0.25%: The Federal Reserve cut the federal funds rate to a target range of 4%4.25%, marking its first reduction in 2025 after nearly a year without changes, in response to slowing economic growth and a weaker job market.

• Goal: support jobs and control inflation: Policymakers aim to balance risks to employment and inflation, emphasizing their commitment to maximum employment and bringing inflation back to 2% over the long run.

• Impact on consumers: The cut is expected to ripple through borrowing costscredit cards, mortgages, auto loans, and personal loans could see lower rates, offering households and businesses modest financial relief.

As anticipated, the Federal Reserves Open Market Committee has voted to lower the interest rate on the federal funds rate by 25 basis points. The rate will float between 4% and 4.25%.

It is the first cut in 2025 and follows economic data reports showing the economy and job market are weakening. The policymakers are hoping the cut in interest will boost the economy without increasing inflation.

Recent indicators suggest that growth of economic activity moderated in the first half of the year, the Fed committee said in a statement. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated.

The Committee said it is trying to achieve maximum employment and inflation at the rate of 2% over the longer run. It added that uncertainty about the economic outlook remains elevated. The Committee said is attentive to the risks to both sides of its dual mandate and judges that downside risks to employment have risen.

In support of its goals and in light of the shift in the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4 to 41/4 percent, the statement read. In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks.

The policymakers said they will continue reducing their holdings of Treasury securities and agency debt and agency mortgagebacked securities. The Committee said it is strongly committed to supporting maximum employment and returning inflation to its 2% objective.

What it means for consumers

When the Fed cuts the federal funds interest rate, the rate banks charge each other for overnight loans, it sets off a chain reaction across the U.S. financial system. While consumers dont borrow at this specific rate, the decision influences nearly every type of borrowing cost, from mortgages and auto loans to credit cards and student loans.

Credit card rates, which are tied closely to banks prime lending rates, often fall soon after a Fed rate cut. This can provide modest relief for households carrying balances.

Mortgage rates, especially those for adjustable-rate loans, tend to follow suit, though fixed-rate mortgages are influenced by broader bond market trends as well.

Auto loans, personal loans, and home equity lines of credit also generally become cheaper when the Fed eases borrowing costs, potentially making large purchases or refinancing more attractive.