Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a Senate Banking Committee hearing in Washington, D.C., on Thursday, July 11, 2019. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell echoed what most in the homebuilding industry have been complaining about all year. While the nation sinks into a severe
View of homes in San Francisco from Alamo Square park. hanusst | iStock Editorial | Getty Images Why buy a house in San Francisco when you can snap up something more affordable in New York? Bay Area tech workers are showing some sensitivity to the cost of housing in the region, according to a survey
53 Mins Ago The Howard Hughes Corporation, which is an owner, manager, and developer of different types of real estate throughout the U.S., has hired bankers at CenterView to explore strategic alternatives that include a sale of the company, according to people familiar with he situation. CNBC’s David Faber reports.
A prospective home buyer, left, is shown a home by a real estate agent in Coral Gables, Florida. Getty Images Mortgage rates have been falling steadily since the last week of April, and that may be reigniting home price appreciation. The lower the rate, the more purchasing power buyers have. Home price gains had been
Victorian homes and the downtown skyline in San Francisco, California. David Paul Morris | Bloomberg | Getty Images Depending where you live, staying put in your home for the last two decades could be paying off well. As in really well. While the median nationwide home value is about 90% higher now than it was
The White House has invited some of President Donald Trump’s key allies in the business world to an event later this month in Bahrain intended to kick-start the administration’s long-awaited Middle East peace plan. The meeting is part of Trump’s effort to strike the “deal of the century” for Israeli-Palestinian peace. The Bahrain gathering will
The euro area is at risk of a new real estate bubble as a result of expansionary monetary policy from the European Central Bank (ECB), Commerzbank analysts have warned. The ECB council meets on Thursday June 6, and is likely to decide on the details of the third edition of its targeted longer-term refinancing operations
Real estate markets in Asia-Pacific grew at a record-breaking pace in the first quarter of this year — thanks in part to China and despite a global decline, according to real estate consultancy JLL. The region recorded a new first-quarter high of $45 billion in real estate transaction volumes, according the company’s Global Capital Flows
Architect I.M. Pei stands inside of the construction site for the Louvre’s inverted pyramid. He designed the glass and metal pyramids to serve as an entrance to the Louvre museum. Paris, France. Owen Franken – Corbis | Corbis Historical | Getty Images I.M. Pei, whose modern designs and high-profile projects made him one of the
Millennials have hugely unrealistic expectations about when and how much they will inherit, according to new research. According to the investment management firm Charles Stanley, millennials expected to be left an average £129,380 ($168,450) – but official statistics showed that the average inheritance in the U.K. is currently £48,000, while the median inheritance is £11,000.
Getty Images High home prices along with strong demand have today’s youngest homebuyers moving to smaller cities — and that could mean a boom for local economies and home values in those markets. For example, Madison, Wisconsin is a new mecca for millennials, according to a recent study from the National Association of Realtors, which
The County of Los Angeles’ population fell last year, even as other major counties in the state added residents. “Los Angeles is just not growing,” said Richard Green, director of the University of Southern California’s Lusk Center for Real Estate. “A lot of [the reason] is housing, and not just the cost of housing but
Step aside, Florida. New Mexico is the new top retirement destination. Those were the findings from a survey by United Van Lines. The relocation company polled 26,998 of its customers who moved last year, through Nov. 30, 2018. Among those who moved to New Mexico, 42% said they did so because of retirement, making the
LOS ANGELES — California may be the fifth-largest economy in the world, but poverty is more prevalent among families with children in the state than in the rest of the nation. “This is a state that has great prosperity,” said Lori Turk-Bicakci, senior manager for the KidsData program at the Lucile Packard Foundation for Children’s
If you’re shopping for a cheap home this spring, good luck. The median value of homes listed for sale in March hit $300,000, a new record, according to realtor.com. Home values overheated from 2016 to mid-2018, as demand outstripped supply, especially at the lower end of the market. Those gains began to shrink last summer,
Homebuyers got a big boost to their purchasing power this week thanks to falling mortgage rates. The average rate on the 30-year fixed-rate mortgage fell to 4.06 percent with an average 0.5 point for the week ending Thursday, down from last week when it averaged 4.28 percent, according to Freddie Mac. A year ago at
Mortgage rates fell quickly after the Fed’s announcement Wednesday that it would be getting back into the bond-buying business, big time – which could take rates even lower. The average rate on the popular 30-year fixed, which had been sitting for days at 4.40 percent, fell sharply to 4.34 percent, according to Mortgage News Daily.
Builders claim they’re feeling better about their business, but the sales numbers are still not reflecting that. So all eyes are on the spring market, which could determine the fate of both the stocks and the earnings of the biggest builders. Sales of newly built homes fell sharply in January, down nearly 7 percent month
It is impossible to build a fully fireproof home, but researchers are now focused on making homes at least fire resistant. They have to, because climate change is increasing the intensity of wildfires around the world, putting billions of dollars’ worth of real estate literally in the line of fire. Wildfires destroyed more U.S. homes
Millennial homeowners have a bad case of buyer’s remorse, according to a new survey. Nearly two thirds, or 63 percent, of millennial homeowners surveyed by Bankrate.com said they had regrets about buying. That is more than any other age group, defined in the survey as people aged 23 to 38, and nearly double the regret