By Rae Hartley Beck From Bankrate.com The coronavirus pandemic has had profound impacts on the housing market. House flipping and residential real estate investing have risen drastically, with real estate analytics firm CoreLogic reporting that investors bought a record high 28 percent of all single-family homes in the first quarter of 2022. With the rise…
US Home Prices Decline by Record Margin Since 2009 Financial Crisis: Report
October 4, 2022
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Business & MarketseconomyinflationMarketsmortgage ratesreal estateU.S. home pricesU.S. housing marketUSUS Real Estate
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Home prices across the United States fell by a large margin in the month of August, while inventory levels stalled, according to a recent report by mortgage analytics firm Black Knight. Median home prices declined by 0.98 percent in August, after falling by 1.05 percent in July, according to a press release on Oct. 3. July and…
New York Offices to See $453 Billion in Value Wiped Out Due to Remote Work
October 4, 2022
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Business & MarketseconomyLocal NewsNew YorkNY NewsNY Real Estateofficesreal estateRegional-Local Newsremote workUSUS News
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Offices in New York face losing $453 billion in value due, in part, to the rise of remote work, a new study from the National Bureau of Economic Research (NBER) has found. According to the study, which was conducted by researchers at New York University and Columbia University, the value of offices in New York City declined by around…
US Construction Spending Drops for Second Month as Housing Recession Deepens
October 4, 2022
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Business & Marketsconstruction spendingeconomyhousing recessioninflationMarketsmulti family homesreal estaterecessionResidential constructionsingle family homesU.S. housing marketUSUS NewsUS Real Estate
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Construction spending in the United States—an indicator of total spending on all types of construction—fell in August for the second month as the housing market declines further into a recession. Construction spending last month was estimated at “a seasonally adjusted annual rate of $1,781.3 billion, 0.7 percent below the revised July estimate of $1,793.5 billion,”…
Six Reasons for an Agent ‘No Response’ to an Offer
Dear Monty: Our agent (buyer’s agent) presented our “as-is” full-price offer to the seller’s agent. The seller’s agent has not responded, and it’s been 72 hours. What are my options to get the seller’s agent to respond? Monty’s Answer: A critical piece of information influencing my answer is missing. What is the acceptance date? You…
Homeowners See Slower Equity Gains as Housing Market Cools
LOS ANGELES—Homeowner equity climbed to record highs in the first half of this year, though its rate of growth is slowing as the housing market cools. Average homeowner equity per borrower reached $298,380 in the second quarter, according to data from CoreLogic. That works out to $3.6 trillion in equity gained by U.S. homeowners with…
Experts Warn Homebuyers of Red Flags Beyond Climbing Interest Rates
Over the past two years, houses nationwide were going like hotcakes, with sellers often receiving tens or even hundreds of thousands of dollars over asking price. Buyers often waived inspections and picked up some of the sellers’ costs in dire hopes of securing that coveted single-family home. While the current landscape has changed due to…
Australian Housing Prices Continue 5th Consecutive Month of Decline
October 2, 2022
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AustraliaBusiness & MarketsCoreLogiceconomyGlobal Real Estatehome valuesInternationalMarketsreal estateWorld
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Home values across Australia dropped for the fifth month in a row in September as interest rate hikes continued to affect the housing market. According to real estate data provider CoreLogic, its national home value index fell 1.4 percent in September, following a 1.6 percent decrease in August. Among the capital cities, Sydney saw the…
How Much Will a House Cost by 2030? Predictions and Tips to Start Saving
By David McMillin From Bankrate.com Just 17 percent of Americans believe it’s a good time to buy a home, according to a recent survey from Fannie Mae. Between higher mortgage rates, still-high home prices and broader inflationary pressure, putting off buying a home might be the only option for some. What happens if you wait, though?…
Queensland Scraps Multi-Jurisdiction Land Tax Proposal
September 29, 2022
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Annastacia PalaszczukAsia & PacificAustraliaBusiness & Marketseconomic policieseconomyGlobal Real EstateInternationalLand TaxQueenslandreal estateWorld
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Queensland Premier Annastacia Palaszczuk has shelved a contentious proposal to introduce a nation-first multi-jurisdictional land tax after an apparent lack of support from her state counterparts. The proposal would have seen Queensland charge investors land tax based on the value of all their property holdings across the country, not just within the state, which is…
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