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For homebuyers and sellers alike across America, theres a massive “struggle” being felt to close deals or make any money.

“The challenges to real estate buyers and sellers right now are probably the greatest ever,” real estate powerhouse Dolly Lenz told Fox News Digital. “It’s a struggle for every buyer and a struggle for every seller they really have to look and say: What am I doing? Do I struggle to stay where I am and just wait this out? Do I struggle to buy?”

“Which struggle am I willing to take on? And every family has to sit down at the dining room table and decide that,” she continued. “It is a struggle and people really are suffering. So it’s not a good time for real estate overall.”

Recent data from mortgage buyer Freddie Mac indicated the U.S. homebuyer’s monthly costs have surged nearly 20% compared to one year ago. Lenz daughter and managing director of the brokerage painted the current housing landscape as “a tale of two cities,” joining the warning calls around a sticky real estate market with people who are “plagued” with high prices.

“We’re still doing deals because [clients] have cash. And like they say, cash is king,” Jenny Lenz also told Fox News Digital. “But other than the very, very high-end, we are seeing people who are pretty skittish. And again, the first-time homebuyer is suffering the most.”

A mix of constantly changing insurance coverage and the Federal Reserve’s latest rate hike pushing 30-year fixed mortgage rates above 7.6% come at a time when Americans are “plagued” with high food and gas prices, according to the mother-daughter real estate team. They both argued that recession-like impacts are keeping homeowners in place, thus affecting the U.S. market and related sectors.

“Sixty-percent of the country has a mortgage rate 4% or under, so it really doesn’t make sense for them to sell should they want to upsize or downsize, because their monthly payments are going to be the same, if not more,” Jenny pointed out.

“None of those homes are coming on the market, which means lack of inventory, which means high prices, which basically means golden handcuffs for everyone,” the managing director added.

“Think about how that reverberates throughout the economy,” Dolly chimed in. “So there’s no movers making moves. There’s no architects people aren’t buying rugs and they’re not buying new furniture a list that goes on and on and on, how that impacts the entire economy.”

While Dolly admitted its “not the absolute worst” real estate market shes worked in, it is the worst for daughter Jenny.

“People can’t get mortgages. Insurance is becoming astronomically expensive,” Jenny said. “Highest ever median home price. So we’re getting all of these things at the same time.”

In certain states like Texas and Florida where theres no individual income tax, buyers and sellers may find more success.

“Migration trends are going to make a big difference,” Dolly noted. “After SALT disappeared, people can’t deduct their real estate taxes or the state and local taxes. So it’s a very expensive thing. Now they’re eating that entire nut themselves since they can’t deduct it.”

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For metropolitan areas like New York City and San Francisco, renting has become more expensive than purchasing a property, the duo warned.

“All these places where crime is at an all-time high, but its cost of living is even worse, it’s absolutely ridiculous,” Jenny said. “People are saying, These mortgage rates are so high, these prices are so high, I’m still going to dip my toe here, even though just a year ago I could have purchased a bigger home, a more expensive home, because the rent is just so high.”

They also cautioned against buyers making too many concessions, advising they be “flexible” through the process.

“A lot of our buyers say to us: Look, I really want to get this house, so I’m going to waive my right to inspection as an example. And we’re like, it’s not really a good idea because if you do that, you don’t know how big a pot that is you’re going to have to eat up,” Dolly said.

“You have to really keep your eyes open,” Jenny added. “You have to be ready with that mortgage and a loan commitment letter, if you can even get one, and really be ready to jump in and get the home, because it’s really hard out there.”

Though these factors pitch a “negative” market outlook for the Lenzes, they put the onus on individuals to find their own optimism.

“We’re in a slight recession now. I see it as getting worse between Fitch, insurance, gas prices, everything becoming so expensive,” Dolly said. “And that’s not good. That really is a sign of a not-chugging-along economy.”

“People are struggling and we hope that [the Federal Reserve] can keep rates down so that we can have a great economy,” Jenny said as Dolly added, “and so people can navigate and have some options.”

The Lenzes best advice for home buyers and sellers right now? Be patient and do your research.

“Real estate is local and hyper-local. What’s going on in one market could be very different than one that’s seemingly next door, but a 45-minute drive,” Dolly said. “So do your homework there. Don’t just be bidding on houses. Asking prices of homes do not reflect value.”

“You need to be tracking a market for, I would say, a couple of months to see what’s going on, what’s selling, how long it’s taking to sell and then have an educated offer on whatever property it is, while at the same time trying to secure that lowest mortgage rate possible for yourself,” Jenny weighed in.

“All the balls in the air at the same time, and that’s what you need to do,” the Dolly Lenz Real Estate founder said. “And very likely, if you have good credit, will be successful. You will get that house.”

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Post Office scandal: Victims say government’s control of redress schemes should be taken away

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Post Office scandal: Victims say government's control of redress schemes should be taken away

Post Office scandal victims are calling for redress schemes to be taken away from the government completely, ahead of the public inquiry publishing its first findings.

Phase 1, which is due back on Tuesday, will report on the human impact of what happened as well as compensation schemes.

“Take (them) off the government completely,” says Jo Hamilton OBE, a high-profile campaigner and former sub-postmistress, who was convicted of stealing from her branch in 2008.

“It’s like the fox in charge of the hen house,” she adds, “because they were the only shareholders of Post Office“.

“So they’re in it up to their necks… So why should they be in charge of giving us financial redress?”

Jo Hamilton OBE, a high-profile campaigner and former sub-postmistress
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Nearly a third of Ms Hamilton’s life has been dominated by the scandal

Jo and others are hoping Sir Wyn Williams, chairman of the public statutory inquiry, will make recommendations for an independent body to take control of redress schemes.

The inquiry has been examining the Post Office scandal which saw more than 700 people wrongfully convicted between 1999 and 2015.

More on Post Office Scandal

Sub-postmasters were forced to pay back false accounting shortfalls because of the faulty IT system, Horizon.

At the moment, the Department for Business and Trade administers most of the redress schemes including the Horizon Conviction Redress Scheme and the Group Litigation Order (GLO) Scheme.

The Post Office is still responsible for the Horizon Shortfall scheme.

Lee Castleton OBE, a victim of the Post Office Horizon scandal
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Lee Castleton OBE

Lee Castleton OBE, another victim of the scandal, was bankrupted in 2007 when he lost his case in the civil courts representing himself against the Post Office.

The civil judgment against him, however, still stands.

“It’s the oddest thing in the world to be an OBE, fighting for justice, while still having the original case standing against me,” he tells Sky News.

While he has received an interim payment he has not applied to a redress scheme.

“The GLO scheme – that’s there on the table for me to do,” he says, “but I know that they would use my original case, still standing against me, in any form of redress.

“So they would still tell me repeatedly that the court found me to be liable and therefore they only acted on the court’s outcome.”

He agrees with other victims who want the inquiry this week to recommend “taking the bad piece out” of redress schemes.

“The bad piece is the company – Post Office Limited,” he continues, “and the government – they need to be outside.

“When somebody goes to court, even if it’s a case against the Department for Business and Trade (DBT), when they go to court DBT do not decide what the outcome is.

“A judge decides, a third party decides, a right-minded individual a fair individual, that’s what needs to happen.”

Pic: AP
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Pic: AP

Mr Castleton is also taking legal action against the Post Office and Fujitsu – the first individual victim to sue the organisations for compensation and “vindication” in court.

“I want to hear why it happened, to hear what I believe to be the truth, to hear what they believe to be the truth and let the judge decide.”

Neil Hudgell, a lawyer for victims, said he expects the first inquiry report this week may be “really rather damning” of the redress claim process describing “inconsistencies”, “bureaucracy” and “delays”.

“The over-lawyeringness of it,” he adds, “the minute analysis, micro-analysis of detail, the inability to give people fully the benefit of doubt.

“All those things I think are going to be part and parcel of what Sir Wynn says about compensation.

“And we would hope, not going to say expect because history’s not great, we would hope it’s a springboard to an acceleration, a meaningful acceleration of that process.”

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June: Post Office knew about faulty IT system

A Department for Business and Trade spokesperson said they were “grateful” for the inquiry’s work describing “the immeasurable suffering” victims endured.

Their statement continued: “This government has quadrupled the total amount paid to affected postmasters to provide them with full and fair redress, with more than £1bn having now been paid to thousands of claimants.

“We will also continue to work with the Post Office, who have already written to over 24,000 postmasters, to ensure that everyone who may be eligible for redress is given the opportunity to apply for it.”

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Politics

MP recalls childhood abuse as he calls for law change to make domestic abuse a specific criminal offence

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MP recalls childhood abuse as he calls for law change to make domestic abuse a specific criminal offence

An MP who decided until recently to “never speak” about the abuse he suffered as a child has shared his harrowing story so that “no kid has to go through” what he did.

Josh Babarinde describes being physically abused by his mother’s former partner from the age of four, and remembers crying himself to sleep under the covers “hearing shouts, hearing screams and things smash”.

He says he became hypervigilant growing up and felt safe at school but “like he was treading on eggshells” in his own home.

The Eastbourne MP, who is also the Liberal Democrats’ justice spokesperson, says his experience has driven his politics. He is calling on the government to stop abusers “slipping through the net” and being released from prison early.

Opening up about his story in his twenties was “difficult” but looking back, Mr Babarinde says, he is “so proud of the resilience of that kid”.

The MP recently found his childhood diary containing Star Wars drawings alongside an entry he wrote from the bathroom. The diary, he recalls, wrote: “I’m really going to try to go (to the toilet) but I can’t. Oh my goodness, I’m gonna be in so much trouble, I’m going to get smacked so hard.”

Then an entry five minutes later: “I still haven’t done anything, I’m going to be in so much trouble.”

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He says reading the entry reminded him of how “helpless” he felt.

“It was mortifying,” he says. “An abuser takes away your sense of self-worth.”

Josh Babarinde speaking to Sky's Ali Fortescue.
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Mr Babarinde says he wants the government to ‘properly recognise domestic abuse crimes in the law’

The 32-year-old is calling on the government to change the law to make domestic abuse a specific criminal offence. The change would mean, he argues, abusers can no longer effectively disguise their history under other offences like assault.

He says the Ministry of Justice’s early release scheme, which has seen thousands of prisoners released early to ease overcrowding, has failed to exclude domestic abusers despite government promises because there is no formal categorisation for offenders.

It is impossible, he argues, to know exactly how many domestic abusers are in prison currently so perpetrators are “slipping through the net” on early release.

Read more from Sky News:
Remembering the bravery of 7/7 victims and responders 20 years on
Met Police chief calls for ‘mega’ forces in push for shake-up

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January: Rising violence against women and girls

Mr Babarinde says the uncertainty means victims and survivors are not able to prepare for their abuser’s release.

He said: “They might need to move house or move their kids to a new school, shop in different places. All of these kind of things are so important, and so that’s why that commitment the government made was so important.”

A spokesperson for the Ministry of Justice said: “Our thoughts are with all victims of domestic abuse – it takes immense courage to speak out.

“We are building a justice system that puts victims first – strengthening support, increasing transparency, and giving people the confidence to come forward and be heard.”

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CNBC Daily Open: Most people don’t start a political party after separation

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CNBC Daily Open: Most people don't start a political party after separation

US President Donald Trump, right, and Elon Musk, chief executive officer of Tesla Inc., during a news conference in the Oval Office of the White House in Washington, DC, US, on Friday, May 30, 2025.

Francis Chung | Bloomberg | Getty Images

When they find themselves without a significant other, most men finally start living: They pay attention to their personal grooming, hit the gym and discover new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

Trump confirms tariffs will kick in Aug. 1. That postpones the deadline by a month, but tariffs could “boomerang” back to April levels for countries without deals. Trump on Friday said letters with “take it or leave it” offers will go out to 12 countries Monday.

U.S. stock futures slipped Sunday. Despite the White House pushing back the return of “reciprocal” tariffs, some investors could be worried trade negotiations would result in higher-than-expected duties. Europe’s Stoxx 600 index dropped 0.48% Friday.

OPEC+ members to increase oil output. Eight members of the alliance agreed on Saturday to hike their collective crude production by 548,000 barrels per day, around 100,000 more than expected.

Elon Musk forms a new political party. On Saturday, the world’s richest man said he has formed a new U.S. political party named the “American Party,” which he claims will give Americans “back your freedom.”

[PRO] Wall Street is growing cautious on European equities. As investors seek shelter from tumult in U.S., the Stoxx 600 index has risen 6.6% year to date. Analysts, however, think the foundations of that growth could be shaky.

And finally…

Ayrton Senna driving the Marlboro McLaren during the Belgian Grand Prix in 1992.

Pascal Rondeau | Hulton Archive | Getty Images

The CEO mindset is shifting. It’s no longer all about winning

https://www.cnbc.com/2025/07/06/the-ceo-mindset-is-shifting-its-no-longer-all-about-winning.html

CEOs today aren’t just steering companies — they’re navigating a minefield. From geopolitical shocks and economic volatility to rapid shifts in tech and consumer behavior, the playbook for leadership is being rewritten in real time.

In an exclusive interview with CNBC earlier this week, McLaren Racing CEO Zak Brown outlined a leadership approach centered on urgency, momentum and learning from failure. 

— Spriha Srivastava

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