When it comes to choosing between renting and buying, most Americans are still dreaming of owning a home—and for good reason. A recent LendingTree survey found that 93% of people still view homeownership as a key part of the American Dream. And 83% of respondents said they'd rather buy than rent. With all the financial and personal benefits that come with owning a home, it's easy to see why.

Turning Payments Into Wealth

One of the biggest advantages of owning a home is the ability to build equity over time. Equity is the part of your home's value that you actually own, and it grows every time you make a mortgage payment. In the early years of a mortgage, most of the payment goes toward interest, but as time goes on, more of it goes to the loan principal. That slow shift steadily increases your stake in your home which will also increase your personal wealth.

Another powerful factor is home appreciation. As property values rise over the years, your equity increases even more. While the real estate market can have ups and downs, long-term homeowners tend to benefit from steady growth. That's a key reason why homeowners have a median net worth close to $400,000, while renters average just over $10,000, according to a 2024 report by the Aspen Institute.

Peace of Mind Through Predictability

One of the most frustrating aspects of renting is the uncertainty. Rents can go up year after year, sometimes making it tough to stay in the same place. But with a fixed-rate mortgage—by far the most popular type of home loan—your monthly payments stay the same for the entire loan term. No surprise hikes, no sudden rent increases, just consistent payments you can plan for.

Tax Breaks You Can Count On

Owning a home can also open the door to some valuable tax deductions. The mortgage interest deduction allows homeowners to deduct the interest paid on loans up to $750,000, which covers most mortgages. You can also deduct property taxes, which average around $3,000 per year for single-family homes, depending on where you live.

These deductions can lower your taxable income and potentially put money back in your pocket at tax time.

Freedom to Make It Yours

One of the joys of homeownership is the ability to customize your space. Whether you want to knock down a wall, paint every room a different color, or build a backyard oasis, you can. As long as your plans follow local building codes, you have the freedom to shape your home to reflect your tastes and needs.

Your Home, Your Asset

Real estate is not just a place to live—it's an investment that can appreciate over time. According to an analysis by Realtor.com, U.S. home prices have historically seen strong returns: on average, a 26% increase over five years and 57% over 10 years. While results vary by region, appreciation adds to your equity and boosts your overall net worth.

A Place to Belong

Homeownership also fosters a sense of connection. Without the fear of being priced out, you're more likely to settle in, build relationships, and participate in community life. Research shows that feeling rooted in a neighborhood can have a positive effect on mental and physical health, which makes staying put feel even more worthwhile.

Retirement Security and Options

A paid-off home can significantly reduce your living expenses in retirement. With no mortgage to worry about, your housing costs may be limited to property taxes and insurance—leaving more room in your budget for other things.

Many retirees choose to downsize, selling their current home and buying something smaller. The leftover proceeds—typically around $100,000, according to Vanguard—can be saved or invested to help cover expenses in retirement. Others may choose to tap into their home equity through a refinance, home equity loan, or reverse mortgage to supplement their income.

Control Over Your Space and Privacy

Homeownership also gives you peace of mind when it comes to your privacy and independence. You don't have to deal with landlords scheduling visits or entering your home for repairs. You call the shots, set the rules, and create the space that works best for you.

Owning a home is more than a financial decision—it's a lifestyle upgrade. From building wealth and saving on taxes to enjoying stability and creative freedom, homeownership offers a long list of advantages that renting simply can't match. While it may not be the right move for everyone at every stage of life, for many, it's still one of the smartest and most rewarding investments they'll ever make.

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Satellite communications company Globalstar marked a major milestone this week with the grand opening of a brand-new satellite operations center at its Covington, Louisiana headquarters. The 10,000-square-foot facility is designed to serve as the nerve center for the company's expanding global network, giving staff the tools to oversee satellite activity and ground station performance with greater precision and efficiency.

The company had a crowd of business leaders, state and federal officials, including FCC Chairman Brendan Carr and House Majority Leader Steve Scalise, for a first look at the $5 million center. The inside included  walls of glowing monitors and rows of computer terminals that provide a live look at Globalstar's 24 low-earth orbit satellites and 28 ground stations around the world.

Globalstar executives say the new facility is more than just a high-tech upgrade. It represents a major step forward in how the company manages its satellite infrastructure, optimizes its network, and prepares for future satellite launches. "This is where we'll be keeping eyes on the entire system," said CEO Paul Jacobs, who took the reins in 2023. "We're proud that this next chapter of our global operations is rooted right here in Louisiana."

In 2022, Apple tapped Globalstar to support its Emergency SOS feature for iPhones, a deal that reshaped the company's future. Apple initially invested $450 million, much of which went to Globalstar, and followed up with an additional $1.5 billion to expand the service. Now, iPhones starting with the 14 series can connect to Globalstar satellites when outside of cellular coverage, allowing users to send emergency messages—even from the most remote locations.

"This new center isn't just about technology—it's about impact," said Barbee Ponder, Globalstar's general counsel. "We're no longer serving a niche group. We're supporting hundreds of millions of people around the globe, and growing."

Globalstar's roots date back to the early 1990s, when it was founded as a joint venture between Qualcomm and Loral. The company launched its first satellites in 1998 but struggled financially, filing for bankruptcy a few years later. In 2004, private equity firm Thermo Capital Partners acquired Globalstar's assets and later moved the company's headquarters to Covington—a move influenced by Louisiana's business incentives and Thermo's managing partner, Jay Monroe, a Tulane alum with strong local ties.

At the time, Louisiana leaders hailed the relocation as a significant win for the state's economy. Globalstar initially projected it would bring nearly 600 jobs to the area by 2020. Today, the company has around 400 employees worldwide, with approximately 160 based in Louisiana. While those earlier hiring goals haven't been fully realized, Jacobs says the company is growing again, with plans to add 75 more Louisiana-based roles over the next year.

Much of that growth is being driven by Apple's Emergency SOS rollout. The satellite-based service has already proven life-saving. One notable example: a skier stranded in Washington state earlier this year was rescued after tumbling down a 1,000-foot slope and using his iPhone to send a distress signal through the satellite network.

With its high-profile partnership, cutting-edge operations center, and renewed focus on innovation, Globalstar is poised for a new era. The new facility will operate 16 hours per day from Covington, with overnight monitoring handed off to a counterpart team in Toulouse, France, ensuring 24/7 coverage of its satellite fleet.

For economic leaders in St. Tammany Parish and across Louisiana, Globalstar's expansion is a powerful example of what's possible when advanced technology, global partnerships, and local investment align.

"This is a major momentum boost," said Susan Bourgeois, Secretary of Louisiana Economic Development. "Globalstar's partnership with Apple puts our region on the map and shows that Louisiana can compete on the global tech stage—while offering an unbeatable quality of life."

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There's a wave of optimism rolling through the housing market this month as mortgage rates hit their lowest point in five months. This welcome drop is good news for both homebuyers and current homeowners..  According to the latest report from the Mortgage Bankers Association (MBA), lower rates have led to a noticeable uptick in both purchase and refinance activity.

The average rate for a 30-year fixed mortgage dropped to 6.67% for homes priced at $806,500 or less—the lowest since October 2024. Jumbo loans, which apply to homes priced above that threshold, saw an even bigger decrease, falling to 6.68%. With rates easing, many buyers who had been sitting on the sidelines are now re-entering the market, ready to make a move.

Mortgage applications for home purchases jumped 7% in just one week, showing a renewed interest in homeownership now that financing is slightly more affordable. But it's not just new buyers taking action. Homeowners who had been holding off on refinancing are also getting in on the opportunity. Refinance activity surged by 16.2% over the same week, suggesting that many are taking advantage of the chance to reduce their monthly payments or lock in a better long-term rate.

After two challenging years marked by high interest rates and rising home prices, the housing market may finally be showing signs of life. Existing-home sales plummeted to a 30-year low in 2024 as elevated mortgage rates priced many out of the market. However, the combination of lower rates and the seasonal push of spring seems to be bringing some warmth back to the market.

Buyers are making bigger purchases as well as getting back into the market. The MBA noted that the average loan size for homebuyers has climbed to a record high of $460,800. That figure marks the highest ever recorded since the survey began in 1990, indicating growing buyer confidence and possibly a willingness to stretch budgets with the help of slightly improved rates.

Joel Kan, the MBA's deputy chief economist, pointed out that overall mortgage demand is now up 31% compared to the same time last year. It's clear that rate movements are having a direct impact on buyer behavior, and as the weather warms up, the real estate market may continue to follow suit.

Of course, it's important to keep in mind that mortgage rates can shift quickly depending on economic conditions, inflation data, and decisions from the Federal Reserve. But for now, the drop in rates has created a window of opportunity—for both those looking to buy and those considering a refinance.

As always, whether you're ready to enter the market, move up, or simply improve your current mortgage situation, it's a smart time to check in with your lender and run the numbers. Even a slight rate reduction could translate into significant long-term savings.

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New Construction is Up in the South and West

According to recent data from Realtor.com, the U.S. housing market saw a huge rise in new home construction in 2024 which included more than 1 million new single-family homes added to the market.   This boom in building helped bring inventory levels in the South and West back to where they were before the pandemic hit. More people are looking to move nowadays, so that means the builders are in demand.

It's no surprise that the South has become the top market for new homes, with 23% of active listings being new builds. In the West, new construction accounts for 14.4% of listings. Meanwhile, the average existing home on the market in both regions is pushing 40 years old, highlighting just how much new housing is reshaping these markets. The median price of a new home dropped slightly by 0.7% in the last quarter of 2024 to $449,967. Builders are creating smaller, more affordable homes, and it's helping ease the supply shortage that's plagued the market for years.

1. A Magnet for Economic Growth According to Austin Hair, real estate expert and founder of Eperon Capital, the surge in construction, especially in Texas, Florida, and Georgia, comes down to simple economics. Where the money is the people and business will go. "Lower taxes, cheaper housing, and a lower overall cost of living are pulling families and companies away from the Northeast and into the South," said Hair.

That migration is bringing in new jobs, and with them, a greater need for housing. States like Florida and Texas are also rolling out pro-business policies, making them attractive not just  for workers, but for companies looking to grow.

2. Building Made Easier Mark Lumpkin, founder of STR Cribs, pointed out that developers are flocking to these regions because it's easier and cheaper to build there. Fewer regulations, faster permitting, and lower land prices make it possible to plan large communities and use innovative building techniques, like modular construction and energy-efficient designs.

When it's faster and less expensive to get homes off the ground, developers are more likely to build—and build big.

3. Affordability Is Driving Demand Let's face it—people want more house for their money, and the South and Southwest are where many buyers are finding it. "We're seeing people from high-priced markets cashing out and heading South, where they can buy homes outright or upgrade significantly," said Alex Vidal, President of ERA Real Estate.

The shift isn't just about price tags—it's also about lifestyle and space. Many are leaving urban areas in search of larger homes, better weather, and a slower pace of life.

4. Local Buyers Are Looking to Upgrade It's not just out-of-towners fueling the demand. Many locals in these areas want to "move up"—but with limited inventory of newer homes, they're stuck. Builders are responding by creating more options to help people take that next step, whether it's upsizing or relocating within their community.

5. Better Quality of Life Attracts Retirees and Remote Workers The South and West continue to appeal to retirees, digital nomads, and remote professionals. With warmer weather and more space, these regions are seeing a wave of people seeking a better day-to-day lifestyle. And with that steady stream of new residents, builders are ramping up their efforts to keep up.

6. Investors See Opportunity, Too Hair also pointed out that these areas aren't just attracting families—they're drawing attention from investors. With rental demand staying strong and short-term rental markets booming in cities like Orlando, Nashville, and Austin, builders and investors alike are finding plenty of reasons to plant their flags in the South and West.

7. Long-Term Impact on Local Economies New construction isn't just helping balance housing supply—it's reshaping entire local economies. Humberto Marquez, a real estate strategist and founder of GetHomeCash, noted that these developments often bring new infrastructure, community amenities, and long-term investment to the areas around them.

"In the long run, this kind of growth helps create more stable and diverse housing markets," said Marquez. And while the immediate effect may not dramatically lower prices, it does set the stage for sustainable growth and rising home values.

Hair agrees, adding, "Buyers who get in now, even with higher interest rates, are likely to benefit down the line when rates drop and demand continues to grow." As interest rates and inventory challenges continue to impact the national market, all eyes are on how the new homes in the South and West will shape the future. Between affordability, economic opportunity, and lifestyle appeal, these regions are poised to remain hot spots for both buyers and builders in the years to come.

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