News Corp - NWSA STOCK NEWS

According to Realtor.com's May housing report, the median price per square foot has surged by 52.7% since 2019. New York, Boston, and Nashville saw the highest increases at 84.7%, 72.9%, and 68.6% respectively. Median list prices have risen by 37.5% since May 2019, while inventory is down 34.2% compared to pre-pandemic levels. This indicates a seller-friendly market. The increase in home value benefits sellers, especially investors and equity-rich homeowners, but high mortgage rates and rising home costs strain buyers. Active listings have grown by 35.2% year-over-year, with affordable homes entering the market, providing some relief for buyers. However, the typical monthly mortgage payment for a median-priced home has increased by $158 from last year, raising the required household income by $6,400 to $119,700.

News Corp and OpenAI have signed a multi-year global partnership, allowing OpenAI to access and display content from News Corp's various publications. This historic agreement aims to enrich OpenAI's generative AI products with reliable news and information, enhancing users' ability to make informed choices. Key publications involved include The Wall Street Journal, Barron’s, MarketWatch, Investor’s Business Daily, The Times, The Sunday Times, The Sun, The Australian, and more.

OpenAI will also benefit from News Corp’s journalistic expertise to maintain high standards. Robert Thomson, Chief Executive of News Corp, emphasized the significance of this partnership, highlighting its potential to set new standards for veracity and value in the digital age. Sam Altman, CEO of OpenAI, expressed excitement about enhancing access to high-quality reporting.

The April Realtor.com® Rental Report reveals a national median rent drop of -0.7% to $1,723, marking the ninth consecutive year-over-year decline. Renters in Austin, Las Vegas, and San Francisco see significant savings, with Austin experiencing the largest decrease at -11.5%. Conversely, Indianapolis, Milwaukee, and Minneapolis hit record-high rents due to low unemployment and slow housing construction. Median rents for studios and one-bedroom units fell by -1.7% and -1.4%, respectively. Despite these declines, rents remain higher than five years ago, indicating a varied rental market landscape.

Realtor.com® has unveiled its list of the Most Affordable Beach Towns in America for 2024, where the dream of owning a waterfront home can be realized for under $450,000. Topping the list is Pascagoula, Mississippi, with a median list price of $164,900, followed by Atlantic City, NJ at $239,000, and Deerfield Beach, FL at $239,950. These towns offer a mix of outdoor activities and work opportunities, making them attractive places to live. The list includes towns from various regions, ensuring geographic diversity and adequate inventory.

News reported third quarter fiscal 2024 results with revenues of $2.42 billion, a 1% decrease, net income of $42 million, a 29% decrease, and total segment EBITDA of $322 million, a 1% increase year-over-year. Despite challenges like lower advertising revenues and ongoing housing market conditions, the company achieved growth in professional information business revenues and digital subscriptions. CEO Robert Thomson highlighted the company's profitability growth and commitment to quality journalism amidst an evolving digital landscape. The extension of the partnership with Google and ongoing structural changes were also mentioned.

Austin, Texas has been ranked as the top rental market for college graduates in 2024. This ranking is based on factors such as high income-to-rent ratio, graduate-friendly job market, and appealing lifestyle. Other top markets include Bloomington, Minn. and Pittsburgh, Pa.

The analysis by Realtor.com® highlighted affordability, job opportunities, and lifestyle as key considerations for recent college graduates. Austin stands out with a low rent-to-income ratio, high rental vacancy rate, and a significant share of college-graduate friendly jobs.

The April Housing Report by Realtor.com reveals that the required household income to purchase a home exceeded $250,000 in four California metros, with San Jose leading at $361,000. The report also highlights the rise in active listings in the South, showing a 43% increase year over year.

Rents declined in March for the eighth consecutive month, with year-over-year prices dropping by -0.3% across all unit sizes. Major markets like Austin, Memphis, St. Louis, Atlanta, Miami, and Phoenix lead the nation with significant rent drops. Despite the decline, the median rent of $1,722 was only $36 less than the peak in August 2022. The Midwest saw steady rents, while the South and West experienced new growth. Studios saw the biggest decline, with a drop of -1.4% year-over-year.