It’s one of those moments that lead many Americans to grit their teeth whenever it’s mentioned: the 2008 housing market crash. Few events in recent decades have instilled homeowners with more dread than the notorious housing bubble burst that year. A combination of cavalier lending policies and high market inventory stemming from the subprime mortgage…
Experts Say Cooling US Housing Market Isn’t in Same Neighborhood as 2008 Price Plunge
NTD Business (Nov. 22): FTX Was Run as ‘Personal Fiefdom’: Lawyers; Investor Home-Buying Plunges
Updates on the FTX cryptocurrency collapse. Attorneys say former CEO Sam Bankman-Fried ran the company like a “personal fiefdom.” A potential railroad strike is coming this holiday season. We have everything you need to know about the situation. Investor home-buying is falling at record rates—the biggest drop since the 2008 financial crisis if you exclude the…
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…
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,”…
Home Prices Cooled Down at Fastest Pace in ‘History of the Index’
September 27, 2022
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Business & Marketseconomyhigh inflationhome prices fallinflationinterest rate hikeMarketsmortgage ratesreal estateU.S. housing marketUSUS Real Estate
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U.S. home prices decelerated at a record pace in July, despite remaining elevated compared to a year back, according to S&P Dow Jones Indices. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, registered a 15.8 percent gain in July 2022 compared with July 2021, a Sept….
Slowing Housing Market Saps Home-Goods Retail Sales
September 19, 2022
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Business & MarketsCompanieseconomyhigh inflationhome furnishinghome goodsinflationMarketsnational association of home buildersU.S. housing marketUS
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Businesses in the home-goods industry are facing a tough time, with falling sales numbers and order cancellations amid a slowdown in the housing market. Sales at furniture and home furnishing stores fell 1.6 percent in August 2022 compared to the same time last year, according to a U.S. Census Bureau news release, on Sept. 15,…
Goldman Sachs Warns About US Housing Market Downturn
September 7, 2022
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Business & Marketseconomyhome sale declinehousing affordabilityMarketsmortgage ratesU.S. housing marketUS
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Investment firm Goldman Sachs has warned investors that a downturn in the American housing market is likely in the coming months. “We expect home price growth to stall completely, averaging 0 percent in 2023,” Goldman strategists said in a note to clients, according to Fox Business. “While outright declines in national home prices are possible…
Biden Cancels $3.9B in Student Loan Debt; Housing Mkt: Hottest ZIP Codes Revealed | NTD Business
President Biden, canceling billions of dollars more in student loan debt– for former students of a school that closed down. The hottest zip codes for homebuyers in America; which one topped the list? Plus, some homebuying tips from realtor.com. Chinese tech giant Tencent is quietly buying shares of the world’s largest game developers. What influence will…
Foreign Homebuyers, Led by China, Spend $59 Billion in the US
August 3, 2022
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buyersforeign buyersOpinionreal estateThinking About ChinaU.S. housing marketUSUS NewsUS Real EstateViewpoints
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Commentary Foreign buyers poured $59 billion into the U.S. housing market from April 2021 through March 2022, snapping up nearly 100,000 homes across the country amid a severe housing shortage and record-high prices. Despite the huge dollar amount, non-U.S. citizens accounted for a modest 2.6 percent of the total volume of existing-home sales during that…
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