Indianapolis News: Tuesday’s Business Headlines, Indiana Weather, and Traffic Updates

In a recent trend, more homebuyers are seeking parental backing for their purchases, with a Freddie Mac analysis showing a high reliance on older mortgage co-signers. The share of young home buyers turning to family members, especially parents, for help in buying a house is at its highest in at least 30 years. Another analysis by Redfin indicates that the trend of older co-signers on younger home buyers’ purchases has increased even more in 2023.

Furthermore, data from the National Association of Realtors reveals that 12% of home buyers relied on down payment help from friends and family in April, up from 9% last year. This shift in the housing market highlights the challenges faced by younger generations in affording homes and the increasing role of family support in making homeownership possible.

In other news, the Transportation Security Administration (TSA) set a new record for the most travelers screened in a single day, with 2.95 million people passing through security checkpoints on Friday. This marks the third busiest day on record for TSA, with five of the top 10 busiest travel days occurring in 2024.

Additionally, Amazon has joined competitors in slashing grocery prices by up to 30% in an effort to attract customers amidst rising inflation. The company announced discounts on 4,000 items at its Amazon Fresh grocery stores, following the lead of major retailers like Target and Walmart.

Looking ahead, the augmented reality (AR) and virtual reality (VR) industries are expected to experience significant growth in the coming decade. Market-foresight advisory firm ABI Research predicts a 60% growth in the AR industry and a 44% growth in the VR industry from 2024 to 2030, driven by applications in education and first responder training rather than gaming.