In the 7 years since the housing crash ended, home values in 78% of U.S. metro areas have climbed faster than millennials' incomes, the AP reports.

Why it matters: That gap, found in real estate industry data provided by CoreLogic, is pressuring 20- and 30-year-olds to buy something before they are completely priced out.

What's next: A Redfin analysis found these buyers are leaving too-hot-to-touch markets, including San Francisco and Seattle.

  • Instead, many millennials are buying in more reasonably priced areas like Salt Lake City, Oklahoma City and Raleigh.

The catch: That migration is driving up housing prices in those communities, too.

“They do want all the same things that previous generations want. They just have more roadblocks, and they’re going to have to come up with more creative solutions to get the homes that they want.”
— Daryl Fairweather, Redfin's chief economist

Go deeper: Black Americans still find inequality in homeownership

Go deeper

18 mins ago - World

Trump announces historic normalization of ties between Israel and UAE

Israel Prime Minister Netanyahu, Trump and UAE Crown Prince Mohammed bin Zayed. Photo: Artur Widak/NurPhoto; Samuel Corum; Odd Andersen/AFP via Getty Images

President Trump announced a "historic" deal Thursday which will see Israel and the UAE open full diplomatic relations and Israel suspend its annexation plans in the West Bank.

Why it matters: This is a major breakthrough for Israel, which does not have diplomatic recognition in many Middle Eastern countries but has been steadily improving relations in the Gulf, largely due to mutual antipathy toward Iran.

Updated 40 mins ago - Politics & Policy

Trump vows to block stimulus funding for mail-in voting and USPS

President Trump on Thursday told Fox Business' Maria Bartiromo that Democratic demands to fund mail-in voting and the U.S. Postal Service in ongoing coronavirus stimulus negotiations were a non-starter.

Why it matters: Trump directly linked Democrats' desired $3.6 billion for mail-in voting and $25 billion for the USPS to his continued baseless claims that increased mail-in voting will lead to widespread voter fraud.

Wind and solar power hit record global market shares in first half of 2020

Reproduced from Ember; Chart: Axios Visuals

A steep decline in coal-fired power combined with rising wind and solar output drove the carbon-free sources to record global market share in the first half of 2020, per a new analysis from the environmental think tank Ember.

Why it matters: The report shows how the coronavirus pandemic is speeding the ongoing shakeup of the global power mix — but also how it's occurring too slowly to reach international climate goals.