A bi-directional arrow symbol on an asphalt road. getty Home prices are skyrocketing in most U.S. markets despite COVID- 19, a recession and a shockingly high unemployment rate. Many analysts are speculating that part of the boom in house prices is caused by COVID-19 – that some people are concerned about COVID-19 contagion and don’t
Scott Heins | Getty Images News | Getty Images Mom-and-pop landlords are in a worse financial position relative to their higher-earning peers as unemployment remains elevated and Americans continue to struggle to pay rent, according to a new analysis. Roughly a third of individual landlords who own residential property are from low- to moderate-income households
Several cities throughout the country have larger-than-average apartments. getty The coronavirus pandemic is accelerating demand for spacious apartments as renters seek a new lease on life with extra rooms, a dedicated place for an office and more outdoor space. RENTCafe looked at the 30 most populous metro areas to determine where the largest apartments are
Homebuilding is booming. Homebuilder sentiment hit a fresh all-time high on Wednesday on the back of rising demand for suburban housing. The iShares U.S. Home Construction ETF (ITB) and the SPDR S&P Homebuilders ETF (XHB) climbed nearly 3% and 2% respectively following the spike, with the XHB hitting a new all-time high. Wall Street analysts also highlighted
I-35W bridge in Minneapolis, Minnesota that replaced the bridge built in 1967 that collapsed in 2007 … [+] due to a design flaw. getty In a recent article here on the Biden housing plan, I mentioned the Paradox of the Black Home Ownership Rate – in the 30 years from 1940 to 1970 when housing
Jb Reed | Bloomberg | Getty Images The number of borrowers in government Covid-19-related mortgage bailout programs is shrinking, but those in private-label or bank bailouts is rising. This suggests that there is still pain ahead in the mortgage market, as some borrowers are simply not recovering enough financially to afford their home loans. The
Two organizations are suing the CDC over an eviction moratorium. getty The National Apartment Association (NAA) announced today that it is taking legal action against the Centers for Disease Control and Prevention for its nationwide eviction moratorium, joining the New Civil Liberties Alliance (NCLA) in its lawsuit challenging the legality of the federal agency’s action.
Getty Images If you’ve thought about refinancing your mortgage, be aware that it may soon be a more expensive proposition. Due to a 0.5% “adverse market” fee, effective Dec. 1 and imposed on lenders by mortgage backers Fannie Mae and Freddie Mac, many homeowners are expected to absorb at least some of the cost when
Tim Curran is the CEO of Building Engines, the modern building operations platform for commercial real estate. Getty After months of being closed or at extremely low capacity, office buildings are cautiously moving towards re-occupancy. However, getting people back into buildings is a complex matter, and it’s made even more so given the severity of Covid-19.
US businessman and son of the US president Eric Trump. Mandel Ngan | AFP | Getty Images Lawyers for Eric Trump said Thursday that he is willing to be deposed as part of the New York Attorney General’s office’s probe of the Trump Organization, but only after the 2020 presidential election. In a court filing
Topeka anticipates workers will be enticed to relocate due to its affordability. Greater Topeka Partnership Topeka, Kansas is offering an enticing deal for remote workers to put down roots in the city. Through the state capital’s new Choose Topeka relocation initiative, employees who work remotely for companies based outside Shawnee County can receive up to
Homebuilding stocks jump on all-time high sentiment. Where to invest in the space Fed leaves rates unchanged in its last meeting before the 2020 presidential election There’s a growing disconnect in emerging markets, but traders see opportunity Unusual activity suggests market volatility will jump after Election Day, Wells Fargo finds Market volatility may swell after
Topline Stripe is offering a $20,000 bonus to employees who move away from San Francisco, New York City or Seattle but it comes with a 10% pay reduction, spokesman Mike Manning told Forbes, making the e-commerce and mobile payment processor the latest tech company to implement pay cuts for workers who chose to relocate to
Chamath Palihapitiya Olivia Michael | CNBC Chamath Palihapitiya pioneered taking private unicorns public by reverse merging them into special purpose acquisition companies — an idea he’s called “IPO 2.0.” After his first iteration of doing so last year with space-tourism company Virgin Galactic, he’s found his next target: Opendoor, an online marketplace for buying and
Rendering of proposed eco-village in Harrisburg, Pennsylvania Murray Associates & The Bridge Former NFL athletes Garry Gilliam and Karlos Dansby have joined forces in a national effort to revitalize underserved neighborhoods by transforming abandoned properties such as schools, shopping centers and warehouses into sustainable mixed-use eco-villages with housing, retail, co-working, urban agriculture, education centers and
Daniel Acker | Bloomberg | Getty Images Independent mortgage banks, as well as mortgage subsidiaries of chartered banks, reported a net gain of $4,548 on each loan they originated in the second quarter of 2020, up from a reported gain of $1,600 per loan in the first quarter of 2020, according to the Mortgage Bankers
A unit in The Broad Exchange Building in Manhattan’s Financial District, likely to be one of the … [+] city’s last rental-to-condo conversions. The Broad Exchange Building It’s a common situation for New York City renters – their rental building is going condo (or, as was the case a couple of decades ago, co-op). But
Big cities across the country are seeing a rise in listings as people move to the suburbs. According real estate company Compass, search traffic has more than doubled with searches for outdoor spaces and pools up substantially since March. Robert Reffkin, CEO and founder of Compass, joins “Squawk Box” to discuss. 04:25 20 minutes ago
The duplex apartment has three terraces. Elegran Actor Anthony Edwards, best known for roles in the movie Top Gun and TV series ER, is selling his prewar penthouse on Manhattan’s Upper East Side. Edwards, who played Goose to Tom Cruise’s Maverick in the 1986 Air Force movie and Dr. Mark Greene on the first eight
fstop123 | Getty Images After a substantial decline last week, the number of borrowers in coronavirus-related mortgage bailout programs dropped by a lot less this week. It’s a signal that homeowners still need a lot more help in order to recover from the ongoing economic ills of the pandemic. There are also indications that a new
getty The New York State Senate has once again placed New York City real estate directly in its sights. Last year the Senate considered a “pied-a-terre” tax bill, but the proposal was ultimately dropped in favor of an increased mansion tax, a far easier pill for buyers, sellers, developers, and real estate agents to swallow.
New York City cannot count on financial assistance from Washington to help it recover from the coronavirus pandemic, RXR Realty CEO Scott Rechler told CNBC on Friday. Instead, the real estate executive said the city’s leadership needs to be proactive in charting a path forward despite its budgetary challenges. “The answer can’t be, simply, that
Firefighters work to protect homes in Boulder Creek, Calif., on Friday, August 22, 2020. (Photo by … [+] Dylan Bouscher/MediaNews Group/The Mercury News via Getty Images) MediaNews Group via Getty Images Just before the CZU August Lightning Complex wildfire devastated the area, realtor Lance Hulsey listed a house just outside Big Basin Redwoods State Park.
Potential homebuyers attend an open house in Seattle. Mike Kane | Bloomberg | Getty Images Mortgage rates just set another new low, and that means the number of borrowers who could benefit from a refinance hit a new all-time high. The average rate on the 30-year fixed mortgage fell to 2.86% for the week ending
Broker/Owner of Commercial Professionals in Las Vegas for over 25 years, professional speaker and author of The Successful Woman’s Mindset. getty The initial step into commercial real estate is often a challenge for new investors. Whether you already have experience investing in residential properties or this is your very first real estate venture, you likely have a
A man enters a building with rental apartments available on August 19, 2020 in New York City. Exodus out of New York has leaded the city into a highest number of retails and apartments left to rent after the Coronavirus pandemic. Eduardo MunozAlvarez | VIEW press | Corbis News | Getty Images The number of
Mortgage delinquencies are expected to continue to rise this year. getty The nation’s serious delinquency rate for mortgage loans more than doubled from May to June, reaching its highest level since February 2015, according to a new loan performance insights report by property data analytics provider CoreLogic. Barring further government support, CoreLogic predicts serious delinquencies
As the pandemic rages on, many people have one less thing to worry about: Getting evicted. No-Mad | iStock | Getty Images What does the ban do? It bans evictions due to non-payment of rent in most residential properties between Sept. 4 and Dec. 31. Who’s eligible? You’ll need to attest on a declaration form that
How can racial discrimination in mortgage lending be prevented getty That is the thrust of a recent article by Diana Olick in CNBC, which she terms “An outrageous tale that reveals Black discrimination in the housing market.” Her information comes from Akili Akridge, a black applicant who “had all the right stats: a steady six-figure
Matt Cardy | Getty Images News | Getty Images U.K. house prices saw their biggest growth since 2016 in August, climbing to a record high, according to Britain’s longest-running barometer of the property market. The Halifax House Price Index, which is run by analysis company IHS Markit, found that U.K. house prices grew by 5.2%