June is National Homeownership Month. However, both buyers and sellers in Indiana are wary of the housing market, amid unwavering interest rates and an imbalance of supply and demand.

Interest rates on the average 30-year fixed mortgage continue to hover around 7%. Indiana, like many other states, has a housing shortage.

Chris Pryor, chief advocacy officer of the Metropolitan Indianapolis Board of Realtors, which serves around 10,000 central Indiana realtors, described the factors influencing the stagnant housing market.

"Household formations look very different today than they did years ago. Yet the majority of what we build is the same type of housing," said Pryor. "We produce a lot of large lot single-family housing with four bedrooms. Many households today are much smaller. In fact, one of the largest groups of buyers today is single females."

Pryor noted that people want homes of different types, prices and sizes, and said the lack of unique home design is failing to meet changing consumer preferences.

He added a recent trend is that many house hunters are looking for homes with smaller yards, and within walkable communities.

In June 2024, the state's average 30-year mortgage rates were at just over 7%, rising above the national average, according to housing research site Innago.

Pryor explained millennials are still watching the homebuying landscape -- but low inventory, high prices, and an unpredictable job market is leaving them with few options.

Pryor said current homeowners, many of whom are older Americans or retirees, are also staying in their homes longer.

"This is happening because they're either locked into their current home because they have such a low interest rate on their current mortgage, or there just simply aren't enough opportunities to downsize," said Pryor, "because we either lack the housing products in those categories, or they're priced too high. So, people are just sitting in their current home."

A 2024 report from the Indiana Association of Realtors indicates Muncie, Kokomo and Columbus had positive home sales growth, while Bloomington had the highest sale prices in the state.




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State governments are fighting back against scammers who make use of cryptocurrency kiosks to steal money from people unaware they are being targeted.

North Dakota is among the states with new regulations in place. North Dakota's law, adopted this spring, requires ATMs designed for cryptocurrency transactions to be licensed. There are also daily transaction limits.

AARP said nearly a dozen states have taken such action in recent months.

Françoise Cleveland, Government Affairs director for AARP, views the daily caps on moving around funds for each user as a vital tool in getting a handle on the problem.

"Because once the money is gone, it's gone," Cleveland pointed out. "The daily transaction limits help to lessen those losses."

AARP said Americans lost more than $246 million to crypto ATM fraud last year. Cleveland argued the limits under the laws still maintain accessibility for users not swept up in a scam. The nonprofit said it found cooperation among law enforcement, policymakers and virtual currency industry groups in passing the laws. However, industry lobbyists pushed back against certain changes, namely the daily limits.

There are talks in Congress about enacting federal regulations but Cleveland pointed out it could take years, even with a bipartisan approach. In the meantime, she predicted more states will follow suit, creating a larger shield to protect consumers.

"State-level efforts also build momentum and demonstrate clear policy models that can inform and accelerate a broader national response," Cleveland added.

North Dakota bill sponsors said such scams can involve someone posing as a law enforcement officer, warning a person about suspicious activity with the funds in their bank account. They are then directed to deposit money into the crypto ATM, moving it to the fraudster's account.

As Congress considers defunding the Low-Income Home Energy Assistance Program known as LIHEAP in the budget reconciliation bill, Pennsylvania advocates warned the cuts would hit families and seniors hardest.

LIHEAP provides up to a $1,000 cash grant and crisis assistance to help Pennsylvanians pay their heating bills.

Bill Johnston-Walsh, state director for AARP Pennsylvania, said LIHEAP also helps families with emergency furnace repairs and replacements. Without it, many could be stuck in freezing temperatures with no way to fix a broken heating system.

"There are 1.2 million people that are eligible right now in Pennsylvania," Johnston-Walsh reported. "Last year, it was 346,000 Pennsylvanians that took this assistance and helped them get through the winter months."

Johnson-Walsh pointed out the reconciliation bill would completely eliminate funding for LIHEAP. He noted the program helped 6.2 million low-income households nationwide in 2024 at a cost of about $4 billion.

Johnston-Walsh argued without LIHEAP, Pennsylvanians may have to rely on smaller utility programs, but they do not offer nearly the same help as LIHEAP. He stressed there's still time for Congress to restore the funding before the budget bill reaches President Donald Trump.

"AARP has been really focused at the national level, writing letters to both the House and Senate to make sure that this and some other key programs are going to continue as we move forward, that are going to really be impactful in a negative way if they are not funded," Johnston-Walsh added.

Republicans in Congress are aiming to pass the reconciliation bill by July 4 but ongoing debate could push that timeline back.

A bill prohibiting credit reporting on Oregonians' medical debt has been signed into law by Gov. Tina Kotek. Hailed as a significant victory for consumer rights advocates, the bill also removes existing medical debt from credit reports, including debt from medical credit cards.

High medical costs have forced nearly one in three Oregonians into debt in the last two years alone, causing cascading financial harms long after bills are paid.

Adam Zarrin, director of state government affairs with the Leukemia & Lymphoma Society, said the cost of treating leukemia, for example, is almost a half-million dollars, much of which becomes debt.

"So, an individual like that might now be able to stabilize their life, get the job they want, start a business, get a line of credit to move on with their life without the kind of financial burdens you get from medical debt," Zarrin explained.

Three major credit reporting agencies have already taken steps to remove some medical debt from people's credit reports voluntarily. Oregon will be the 14th state to implement similar legislation, set to take effect next year.

Chris Coughlin, policy director for Oregon Consumer Justice, said it isn't fair that people's ability to rent an apartment or buy a car would be affected by debt they didn't choose to take on, or that may be inaccurate.

"Sometimes people get sent to collections for debt that's not theirs through the health care system," she continued.

On the federal level, Coughlin warns that protections for medical debt and credit reporting, once enforced by the Consumer Financial Protection Bureau, have now been revoked by the Trump administration.

"Now it's more important than ever for states to take action to protect Oregonians," she said. "And so, we're really happy that this bill has moved forward."

Zarrin added with cuts to Medicaid looming in the future, it is likely that more Americans will lose health care, including over 220,000 Oregonians, resulting in increased medical debt.

Coughlin said it's yet another reason for states to enact policies to protect their residents.