An aerial view from a drone shows homes in a neighborhood on January 26, 2021 in Miramar, Florida. According to two separate indices existing home prices rose to the highest level in 6 years. Joe Raedle | Getty Images The U.S. housing market cooled off pretty dramatically last year, after mortgage rates more than doubled
Real Estate
Median rents in Manhattan hit a new record in January as a strong job market and limited supply of apartments lifted prices. The median rental price rose 15% to $4,097 from the year-earlier month — the highest ever in January, according to a report from Douglas Elliman and Miller Samuel. The average rent in Manhattan
Spencer Platt | Getty Images News | Getty Images New York is the most rent-burdened metro area in the U.S., according to a new report from Moody’s Analytics. A household with the median income in the Big Apple would need to pay nearly 69% of earnings to rent the averaged-priced apartment there, the research division
Two developers in California are looking to lure a buyer willing to do something no other buyer has ever done before in Los Angeles history – pay between $50 million and a $100 million for a condo. A deal anywhere near those asking prices would shatter a record in the City of Angels, where no
Stories about soaring rents and the search for a new place to live taking months are all too common in London right now. The city’s rental market is in crisis, and renters are facing the consequences. One of them is Daniel Lloyd, who lives with his flatmate in southwest London. After living in their two-bedroom
A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images After a stronger start to the year, mortgage demand plunged last week, despite another drop in interest rates. Total mortgage application volume fell 9% last week compared with the previous week, according
Hong Kong’s service sector will be the part of economy that sees “the biggest rebound” as borders reopen, UBP told CNBC’s “Squawk Box Asia” on Thursday. However, it warned that the sector is coming “from a very fragile situation,” given its contraction in every quarter of 2022. “We can’t exclude the possibility of further insolvencies
China’s real estate market has slumped in the last two years after Beijing cracked down on developers’ high reliance on debt for growth. Future Publishing | Future Publishing | Getty Images BEIJING — China needs to do more in order to fix its real estate problems, the International Monetary Fund said Friday. The property market
Prospective buyers at an open house in Florida. Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images The average rate on the 30-year fixed rate mortgage has fallen to 5.99%, according to Mortgage News Daily. The housing market hasn’t seen the rate with a five handle since a brief blip
The Federal Reserve raised the target federal funds rate for the eighth time in a row on Wednesday, in its continued effort to tame persistent inflation. At its latest meeting, the central bank approved a more modest 0.25 percentage point increase after recent signs that inflationary pressures have started to cool. “The easing of inflation pressures
Former US President Donald Trump addresses the crowd during a 2024 election campaign event in Columbia, South Carolina, on January 28, 2023. Logan Cyrus | AFP | Getty Images The New York attorney general’s office on Tuesday said it will ask a judge to impose sanctions on former President Donald Trump and his attorneys in
The Federal Reserve is widely expected to announce its eighth consecutive rate hike at this week’s policy meeting. This time, Fed officials likely will approve a 0.25 percentage point increase as inflation starts to ease, a more modest pace compared with earlier super-size moves in 2022. Still, any boost in the benchmark rate means borrowers