A house for rent in Corona Del Mar, California. Scott Mlyn | CNBC Demand for single-family rental homes is showing no sign of easing up, and that is pushing rents through the roof, especially for the highest-priced properties. As a result, investors are now flooding into the market again, after falling back a bit during
Real Estate
Thomas Barwick Buying a first home is always a huge decision. It’s even bigger when the market has been as hot as it has in the last two years. Financial advisors say this could be the worst market for home buyers we’ve ever seen, and caution clients to perhaps wait. Certified financial planner Rick Kahler,
High-rise apartment buildings at China Evergrande Group’s under-construction Riverside Palace development in Taicang, Jiangsu province, China, on Friday, Sept. 24, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese developer Evergrande made little progress toward complying with Beijing’s crackdown on real estate debt — until it was too late for investors who poured
A worker carries lumber as he builds a new home in Petaluma, California. Getty Images Rising interest rates will result in a sharp drop in refinance demand in 2022, meaning a lot less business for mortgage bankers, according to the Mortgage Bankers Association’s just-released annual forecast. It predicts total origination volume will drop 33% to
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, June 3, 2021. Mike Blake | Reuters The nation’s homebuilders aren’t seeing any relief from supply chain issues that have slowed construction recently, but high buyer demand appears to be making up for it. Builder confidence
Aerial photography of “river view house” on the side of the Yangtze River. Yichang, Hubei Province, Oct. 16, 2020. Costfot | Barcroft Media | Getty Images The fallout in China’s property sector is showing no signs of abating, as more developers face the threat of default — even as uncertainty over the fate of heavily
An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. Bobby Yip | Reuters BEIJING — The People’s Bank of China said Friday that indebted developer China Evergrande is its own case, and that most real estate businesses in the country are stable. Property giant Evergrande has $300 billion in liabilities
In this article ETC.BF= BTC.BS=-USS Tony Andrews | Twenty20 U.S. homebuyers apparently aren’t all that interested in paying their mortgages in cryptocurrencies like bitcoin. United Wholesale Mortgage, which made its public debut in January via a special purpose acquisition (SPAC) merger, began piloting crypto payments in August in a first for the industry. But CEO Mat Ishbia
A foreclosure sign in front of a house in 2007. Getty Images Foreclosures are starting to surge as government and private sector programs designed to help homeowners deal with the economic fallout of the Covid-19 pandemic have begun to expire. Mortgage lenders began the foreclosure process on 25,209 properties in the third quarter, a 32%
frantic00 | iStock | Getty Images DUBAI, United Arab Emirates — Dubai’s economy contracted by 10.9% year-on-year in 2020, data from the Dubai Statistics Center revealed, reflecting a city hit hard by the coronavirus pandemic and the halting of global travel. The commercial capital of the United Arab Emirates, Dubai is home to 3.4 million
Prospective homebuyers view a kitchen while touring a house for sale in Helotes, Texas. Matthew Busch | Bloomberg | Getty Images Mortgage rates continued their trudge higher last week, leaving most homeowners with little to no incentive to refinance. Homebuyers, already battling a pricey market, lost more purchasing power due to those higher rates. The
A pedestrian crosses a road in front of residential buildings in Beijing, China. Qilai Shen | Bloomberg | Getty Images Morgan Stanley has upgraded China’s property sector to “attractive,” even as worried investors are watching closely to see if debt-saddled Evergrande might default, and whether there will be contagion. The U.S. investment bank said it