Why the U.S. housing market has stalled (6 23 25)

Author

Anthony Hazzard
June 23, 2025

Did you know that "everyday millionaires" control the most wealth? Find out how many new millionaires were added per day in 2024. Warning: the stat may surprise you. 

💵 Today’s Top Stories
House For Sale

The used home market is “frozen, frozen, frozen,” Clark says. When will it thaw? And why is the new housing market more accessible for now? Read more.

Cell Phone Deals

Are you paying too much for your cell phone service? You may be able to cut your cell phone bill in half by following these tips. (We dare you to try No. 6.) Read more.

Amazon

The welcome bonus gives you a $200 gift card instantly upon approval – and it’s not even tied to a spending requirement. Prime Day is July 8-11. Read more.

Cars vehicles

Clark calls three-year-old cars the thoroughbreds of vehicles. For about half the price, you get 80%+ of the remaining life. Here’s an analysis of the average miles driven vs. price on those vehicles. Read more.

🏠️ Today’s Current Mortgage Rates

According to Freddie Mac, 30-year mortgage rates are 6.81% and 15-year rates are 5.96% as of June 18, 2025. The following chart shows the 30-year mortgage rate trend over the last year.

📈 ‘Everyday Millionaires’ Dominating the World Economy

Through COVID-19, tariffs, wars and political change, the number of U.S. millionaires only continues to accelerate.

There were more than 1,000 new millionaires per day in 2024 (379,000 in total) as the U.S. claimed more than half of new millionaires around the world.

“Everyday millionaires” – those with $1 to $5 million in assets – now control more wealth than the world’s billionaires combined.

That’s thanks in part to the S&P 500, which gained 23.3% last year, well above its long-term average.

Americans account for almost 40% of the world’s millionaires. If you want to point to a random person on the street and hope they’re a millionaire, Luxembourg and Switzerland are your best bets (highest per-person percentage).

Want to grow your own net worth? Don’t look for a quick shortcut, Clark says. Instead, follow these 10 Clark-approved steps.

📊 Stat of the Day

🛍️ -0.9%: U.S. retail and food spending from April to May (adjusted for seasonal and holiday variations). Total sales were up 0.5% from the same month in 2024. But U.S. consumers tightened their wallets last month.

💰️ Deal Alert: Today’s Top Deals
Woot
Airplane
Lowes
🎙️ Podcast

Want to ask a question or share your opinion on the podcast? Tell us! Submit an Ask Clark or Clark Stinks post for a chance to have it covered on the podcast.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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