In this article TRU Follow your favorite stocksCREATE FREE ACCOUNT After years of cheap money, it’s suddenly a lot more expensive to borrow. The Federal Reserve has raised its benchmark short-term rate 3 percentage points since March in an effort to curb unrelenting inflation, including another big hike earlier this week. “Interest rates are going up at the
A penthouse atop the world’s tallest residential building − listed for $250 million − is marking the biggest test of the ultra-luxury real estate market at a time of falling sales and growing economic uncertainty. The three-story mega-home inside Central Park Tower, which spans more than 17,500 square feet, is the country’s most expensive listing.
Sales of previously owned homes fell 0.4% in August from July to a seasonally adjusted annualized rate of 4.80 million units, according to the National Association of Realtors. That is the slowest sales pace since May 2020, when activity stalled very briefly due to the start of the Covid pandemic. Outside of that, it is
New York Attorney General Letitia James on Wednesday sued former President Donald Trump, the Trump Organization, three of his adult children and others for allegedly widespread fraud involving years’ worth of false financial statements related to the company’s business. The 220-page civil lawsuit filed in Manhattan Supreme Court seeks at least $250 million in damages.
An aerial view of former U.S. President Donald Trump’s Mar-a-Lago home after Trump said that FBI agents raided it, in Palm Beach, Florida, U.S. August 15, 2022. Marco Bello | Reuters A bombshell lawsuit against former President Donald Trump filed Wednesday contains a head-spinning amount of detail about real estate, loans and other financial arrangements
A ‘For Rent’ sign is posted near a home on February 07, 2022 in Houston, Texas. Brandon Bell | Getty Images Rents for single-family homes were 12.6% higher in July compared with the year-earlier month, but the gains continue to shrink from the record high seen in April, according to a new report from CoreLogic.
This week, the Federal Reserve will likely raise rates by another three-quarters of a percentage point for the third consecutive time in an effort to cool down the high cost of living. The U.S. central bank has already raised interest rates four times this year, for a total of 2.25 percentage points. Fed officials have
A worker walks on the roof of a new home under construction in Carlsbad, California. Mike Blake | Reuters More builders are lowering prices for homes as their confidence in the market continues to tumble. Homebuilder sentiment in September fell 3 points to 46 in the National Association of Home Builders/Wells Fargo Housing Market Index.
Mortgage demand appears to have nowhere to go but down, as interest rates go up. Application volume dropped 1.2% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The week’s results include an adjustment for the observance of Labor Day. Since last year, homebuyers’ demand for mortgages has
Commercial property is a bright spot in Chinese real estate, in contrast with the doom and gloom of the residential housing market. Property analysts and developers said offices, warehouses and business parks are proving resilient, and continuing to turn over steady rental revenue — albeit discounted due to softer demand. Hong Kong-listed property group KWG
In this article CTRN Peopleimages | Istock | Getty Images Citi is expanding a program to encourage homeownership in diverse communities, as part of a new set of initiatives to broaden access to its lending products. The program, called HomeRun, seeks to help eliminate the key barriers to homeownership, particularly with regard to cost and
GP: Homes for sale Brittany Murray Via Getty Images | Medianews Group | Getty Images In June the average rate on the 30-year fixed shot over 6% briefly, and that was enough to turn the once-hot housing market on its heels. Rates pulled back in July and August, but the damage was already done. Now
In this article WE Global inflationary pressures are pushing companies to be “more nimble” with their corporate real estate portfolios, according to WeWork. “That … has put the need for companies to look at flexibility in managing and thinking about their workspace,” said Samit Chopra, the coworking company’s international president and COO. “Which is of
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments: Oscillator says market still oversold Our trades on DVN and CRM Quick mentions: HON and LLY Watching these bullpen stocks 1. Oscillator says market still oversold Stocks were in the
From above, the 2,000-acre new housing development just outside Austin, Texas, looks much like any other. Each home has solar panels, but that’s no longer uncommon. But the Whisper Valley community is entirely unique thanks to what lies below. Far below. The master-planned community, which will eventually include multifamily units and garden apartments in addition
This summer, rising anxiety among homebuyers about apartment completion brought problems in China’s massive real estate sector — and worries about spillover to the rest of the economy — to the forefront again. Future Publishing | Future Publishing | Getty Images BEIJING — China’s struggling real estate sector could significantly drag down the economy and
This aerial photograph taken on September 1, 2022 shows flood-affected people taking refuge in tents after heavy monsoon rains in Dera Allah Yar town of Jaffarabad district, Balochistan province. – Monsoon rains have submerged a third of Pakistan, claiming at least 1,190 lives since June and unleashing powerful floods that have washed away swathes of
A real estate consultant shows a condo to a prospective buyer in Miami, Florida. Joe Raedle | Getty Images After falling back earlier this month, mortgage rates began rising sharply again to the highest level since mid-July. That caused mortgage demand to pull back even further. Total mortgage application volume fell 3.7% last week compared