In April, home prices reached a new record high, increasing by 6.3% compared to the previous year. This growth is surprising, especially considering the rise in mortgage rates and the increased supply of homes for sale in the market. Typically, higher mortgage rates and more available homes would lead to a weakening of prices. However,
Real Estate
The article discusses the least difficult areas to buy a home in the U.S. based on a new real estate indicator. It categorizes various counties based on different contributing factors such as cost, competition, scarcity, and economic instability. While this information is informative, it would have been beneficial to provide a broader scope by including
Amidst the housing affordability crisis in the United States, there has been a notable increase in the construction of built-for-rent single-family homes. According to the National Association of Home Builders (NAHB), this surge in construction is attributed to the challenges faced by potential homebuyers, particularly as mortgage rates continue to rise. As a result, renting
The recent decrease in mortgage rates did not seem to excite consumers as much as expected. Despite the drop in average contract interest rates for 30-year fixed-rate mortgages, mortgage application volume only rose by a modest 0.9%. This minimal increase suggests that consumers may not be as responsive to rate changes as previously thought. The
Hong Kong has once again been named the most expensive city for expats to live in, according to Mercer’s Cost of Living City Ranking 2024. Following closely behind Hong Kong are Singapore and Zurich. These cities continue to maintain their positions as Asia’s biggest financial hubs, making them costly for international workers. Cities in Switzerland,
Singapore, a bustling city-state known for its modern architecture and efficient city planning, has a hidden gem that often goes unnoticed. The colorful and ornate “shophouses” that adorn the streets of some of its older neighborhoods might not be the first thing that comes to mind when one thinks of Singapore, but they hold a
As sea levels continue to rise and storms become increasingly intense, coastal real estate is facing unprecedented challenges. From Nantucket, Massachusetts to Montauk, New York, some of the nation’s most expensive beachfront properties are at risk of flooding and erosion due to the impacts of climate change. The National Oceanic and Atmospheric Administration (NOAA) has
Revolut, a prominent British financial technology firm, made waves in the industry with its recent announcement of relocating its official headquarters in London to Canary Wharf. The decision to move its global headquarters to the YY London building in the heart of Canary Wharf signifies a significant step for the company. By agreeing to a
The cost of maintaining a home in the United States has been steadily increasing, adding to the already expensive process of buying a house. Recent data from Bankrate.com reveals that the “hidden costs” of homeownership now amount to an average of $18,118 annually, translating to $1,510 per month. These expenses encompass property taxes, homeowners insurance,
The current state of the real estate market shows that home equity is at near all-time highs. In the first quarter of 2024, U.S. mortgage holders saw their total home equity surpass $17 trillion, coming close to the record set in the third quarter of 2023. This increase in home equity has been largely attributed
