China’s home market fell at a fast pace at the start of 2022. Even though the government lifted some restrictive policies late last year, the housing market has, so far, not been pulled out of its slump. The value of homes sold in the first two months of 2022 fell 22 percent from last year,…
China’s Home Market Slump Deepens as Declines in Prices and Sales Widen
News Clip: How The Fed’s Rate Hike Will Impact You
March 17, 2022
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Business & EconomyCOVID-19economic policieseconomyEpochTVFed's Rate Hikeinterest ratesInvestmentNTD Businessreal estateUkraine-RussiaUSUS NewsUS Real Estate
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The Federal Reserve is increasing interest rates by a quarter of a point. From credit cards to car loans, a look at how the rate hike could impact your wallet. Jerome Powell, Federal Reserve Chairman：”The committee is determined to take the measures necessary to restore price stability.” Ed Moya, Senior Market Analyst, Oanda：”Getting loans, getting…
Homeowner Suing Michigan County Over Home Equity ‘Theft’ Appeals to 6th Circuit
March 16, 2022
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home equity theftJudiciaryPacific Legal Foundationreal estateRegional-Local NewsUncategorizedUSUS Real Estate
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A widow is appealing to the U.S. Court of Appeals for the 6th Circuit, a court ruling dismissing her claim that local governments in Michigan seized her family’s home over a tax debt and then refused to compensate her for the home equity in the property that she lost. The unfavorable ruling came despite the…
Canada’s Average Home Price Hits $816,720, Rising 20% From Last Year
Canada’s average home price hit a record high of $816,720 last month, says the Canadian Real Estate Association (CREA). The group, which represents over 150,000 realtors across Canada, said in a March 15 release that sales were up in roughly 60 percent of markets in February, with the largest jumps in Calgary and Edmonton. CREA attributed the…
Zillow’s (Near) $1 Billion Blowout: What’s the Lesson?
March 14, 2022
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Business & EconomyBusiness Columnistshousing bubbleInvestmentOpinionreal estatestock marketViewpointsZillow
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Commentary According to the Wall Street Journal, “Zillow Group said on Thursday that it lost $881 million on its algorithmic-driven home-flipping business last year in its first earnings report since the real-estate company shut down that operation in the fall.” The emphasis is, naturally, mine because, frankly, it’s mind-boggling. Zillow accounts for nearly a third…
Miami Ranks Least Affordable US City, Edging Out the Big Apple
March 10, 2022
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Business & EconomyeconomyFloridahome pricesInvestmentLocal NewsMiamiNew York CityNY Real Estatereal estateRegional-Local NewsUSUS NewsUS Real Estate
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Miami has always been a world-renowned tourist destination with its pristine white-sand beaches, palm trees, warm tropical climate, and exciting nightlife. But now the second-largest populated city in Florida is also famous for being ranked the least affordable housing market in the United States—even surpassing New York City. RealtyHop’s Affordability Index Report analyzed the median…
What’s the Chance There’s a Home Defect?
Dear Monty: The house seller wants me to release him from all claims after closing. This action sounds risky. Is it risky? Monty’s Answer: Sellers have different reasons for requesting such a release. No. 1: Sometimes they know something they’re afraid you’ll discover and hold them accountable for. No. 2: Or they may be trying…
When Choosing a Lot for a House, Don’t Overlook Drainage Problems
Dear James: Our last house had drainage problems after storms. When we select a lot to build our new house, what steps should be taken to evaluate possible drainage issues?—Jessica R. Dear Jessica: When selecting a lot for a new house, most people think poor drainage can just make the yard muddy or harm landscaping….
Ban On Foreign Buyers to Ease Housing Crisis Voted Down by Liberals, Bloc
A Conservative Party amendment to ease the housing crisis by temporarily banning foreigners from purchasing Canadian real estate in order to stem demand has been voted down by Liberal MPs, despite this being part of their party’s platform during the last election campaign. Conservative MP Adam Chambers presented the amendment of the Underused Housing Tax…
An Outstanding Modern Villa in Saint-Tropez Lists for 26 Million Euros
This 500-square-meter (5,300-square-foot) masterpiece of zen-inspired design is a feast for the eyes. Set in a secluded private community outside the medieval village of Ramatuelle, the villa offers intimate privacy and a sense of endless space simultaneously. This stunning home sits in the center of a wonderfully landscaped 2,500-square-meter (0.62-acre) lot. The property, which lists…
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