Today’s shake:

• NAR President Resigns Amid Blackmail 🏴‍☠️

• Housing Optimism Hits 20-Month High 📈

• Millennials Migrate to Suburbs 🏠

• RHOC Star's $9M Real Estate Play 💰

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NAR President Resigns Amid Blackmail 🏴‍☠️

Tracy Kasper, the president of the National Association of Realtors, announced her resignation following a blackmail threat related to a personal, non-financial matter.

• Kasper's decision comes after a threat to disclose a past personal issue unless she compromised her position at NAR.

• Her resignation follows a series of leadership shake-ups at NAR, including the resignation of her predecessor, Kenny Parcell, and CEO Bob Goldberg.

• NAR's executive committee recently adopted a lifetime ban from group events for any elected officer who resigns or is removed from office, now applicable to Kasper.

Housing Optimism Hits 20-Month High 📈

Americans are feeling the most optimistic about the housing market in 20 months, but high home prices continue to loom over this newfound confidence.

• Fannie Mae's housing sentiment index rose to 67.2 in December, the highest since April 2022, driven by hopes of softer mortgage rates.

• A record 31% of consumers expect mortgage rates to fall within the next year, following a significant drop from a peak of 7.79% to 6.62%.

• Despite this optimism, affordability challenges persist, with limited inventory potentially pushing home prices higher, especially for first-time buyers.

Millennials Migrate to Suburbs 🏠

Millennials, once the driving force behind the urbanization of cities, are now being priced out and pushed into the suburbs, ironically becoming what they once vowed not to - their suburban parents.

• Rising housing costs and mortgage rates in cities are forcing millennials to move to the suburbs, a trend accelerated by the pandemic.

• This demographic shift is transforming previously 'boring' suburban areas into more amenity-rich communities, as millennials seek urban-like living outside city centers.

• Despite the desire for urban amenities, many millennials are struggling with the reality of suburban life, including longer commutes and a lack of cultural diversity compared to city living.

RHOC Star's $9M Real Estate Play 💰

'RHOC' star Gina Kirschenheiter is making waves in the luxury real estate market with her $9 million listing in La Quinta, California, proving that reality TV fame can open doors to some pretty swanky places.

• Gina's biggest listing yet is a lavish $8,995,000 estate located near the Kardashians' mansion in La Quinta, offering a chance to rub elbows with celebrity neighbors.

• The 10,000 square-foot property boasts 6 bedrooms, 8 bathrooms, a tranquil pool, tennis court, private lake with koi fish, and exclusive access to festival grounds.

• The home, currently owned by fellow 'RHOC' alum Elizabeth Lyn Vargas, features a blend of modern upgrades and original fixtures, showcasing Vargas' interior design efforts.

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