There seems to be a split among experts regarding the future of the housing market in the latter half of the year. Glenn Kelman, the chief executive of Redfin, is optimistic about the market’s outlook, suggesting that we may have hit rock bottom and are poised for improvement. However, other experts like Jeff Ostrowski from
Real Estate
In the luxury real estate market, iconic homes with a celebrity or pop culture pedigree often come with a premium price tag. Buyers are willing to pay extra for the exclusivity and uniqueness of owning a property associated with well-known personalities or famous movies. Real estate experts like Tomer Fridman and Josh Altman emphasize that
Real estate has long been considered a favorable long-term investment choice by a significant portion of Americans, with 36% ranking it as the top option in a recent Gallup survey. This preference for real estate over stocks, mutual funds, gold, and savings accounts underscores the emotional connection individuals have with property investments. For those looking
The recent increase in mortgage interest rates has had a direct impact on the demand for mortgages. As rates reached 7.07%, the highest level since early May, mortgage application volume fell by 5.2%. This drop marks the second consecutive week of decline in mortgage demand. The rise in rates is a key factor in the
The Dubai Mall, renowned as one of the largest shopping complexes globally, is gearing up for a substantial expansion that is expected to cost around 1.5 billion dirhams (approximately $408 million). This extravagant mall in the heart of the United Arab Emirates boasts an impressive array of amenities, including 1,200 stores, 200 food and beverage
Consumers often blame private equity for high housing prices, claiming that they hinder potential homeowners from entering the market. However, real estate experts argue that while the housing market faces numerous challenges, it is difficult to ascertain if investor activity is truly deterring people from purchasing homes across the U.S. In the first quarter of
When it comes to selling luxury real estate, the traditional approach often involves staging a property with elegant furniture and decor to entice potential buyers. However, Paul Lester, a partner at The Agency, has taken a different approach by integrating high-end art into the homes he lists. In a bid to elevate the overall experience
The National Association of Realtors reported a significant drop of 7.7% in signed sales contracts on existing homes in April compared to March. This decline marks the slowest pace since April 2020, indicating a noticeable shift in the housing market. Pending sales, which are considered a forward-looking indicator of closed sales one to two months
Recently, there has been a noticeable increase in mortgage rates after a brief period of decline in May. The average contract interest rate for 30-year fixed-rate mortgages rose to 7.05% from 7.01%. While this may seem like a small adjustment, it had an immediate effect on mortgage demand in the market. Rates had dropped to
Grant Cardone, a multimillionaire with a massive social media following, has been collecting art for over 15 years. Despite not considering himself a connoisseur, Cardone adopts a spontaneous approach to art buying. His collection includes pieces by well-known artists like Jean-Michel Basquiat and Kenny Scharf. He values art for personal enjoyment and fulfillment, viewing it
