Living in major Asian cities comes with a hefty price tag, particularly in cities like Shanghai, Hong Kong, and Singapore. According to data from Numbeo, the monthly rent in Shanghai’s city-center can cost approximately $2,700. In Hong Kong and Singapore, the cost of living is even higher, with a family of four expected to spend
Real Estate
Vice President Kamala Harris has long been an advocate for affordable housing initiatives throughout her political career. From her time as the Attorney General of California to her current position in the Biden administration, Harris has championed policies aimed at protecting homeowners and renters alike. Even as she is set to become the Democratic nominee
Recent data from the Mortgage Bankers Association shows that mortgage interest rates for 30-year fixed-rate mortgages with conforming loan balances have decreased slightly to 6.82%. While this is the lowest level since February of this year and rates have dropped over twenty basis points in the last few weeks, potential homebuyers are still hesitant to
The real estate market experienced a significant drop in June, with sales of previously owned homes plummeting by 5.4% compared to the previous month. The National Association of Realtors reported a total of 3.89 million units sold on a seasonally adjusted, annualized basis, marking a 5.4% decrease from the previous year. This slowdown in sales
Aspiring homeowners often find themselves in a dilemma when it comes to deciding if they are financially prepared to make the leap from renting to buying. According to the analysis by Zillow, a significant number of renter households in 2022 could have afforded to purchase a home based on their income levels. However, it appears
In the United States, housing stands as one of the most significant expenses for consumers. While high rents and home prices pose significant obstacles for potential homebuyers, access to affordable credit remains as another major roadblock. An estimated 50 million Americans are categorized as “credit invisible,” meaning they lack a credit file and credit score,
Last week, mortgage rates hit the lowest level since March, leading to a significant spike in refinancing applications. The Mortgage Bankers Association reported a 15% increase in applications compared to the previous week, the highest level since August 2022. Despite the surge, refinance demand is still more than 70% lower than pre-pandemic levels in early
America is facing a housing crisis with a tight supply of homes, especially affordable ones, and persistently high mortgage rates. The problem varies from state to state, making the local residential real estate market a crucial factor for companies deciding where to locate. The housing market plays a significant role in determining state business competitiveness.
It is evident from recent indications that inflation is beginning to ease, setting the stage for the Federal Reserve to potentially initiate interest rate cuts as early as this autumn. The consumer price index, a fundamental measure of inflation, declined in June for the first time in over four years, as reported by the Labor
The housing market has undergone significant changes in recent years, with surging mortgage rates and housing prices impacting consumers’ purchasing power. While the 30-year mortgage rate has hovered around 7%, signaling higher borrowing costs for prospective home buyers, housing prices have also reached record highs according to the Case-Shiller national home price index. This combination