The housing costs in the United States have been steadily outpacing median household incomes, making it increasingly unaffordable for the average American to purchase a home. According to a recent analysis by Redfin, a national real estate brokerage site, a prospective homebuyer would need to earn $113,520 annually to afford the typical house in the
Real Estate
Rent prices for one- and two-bedroom apartments across the United States saw a slight increase in March after six months of stagnation. According to a report by Zumper, a real estate data site, the average cost for a one-bedroom apartment rose by 0.3% to $1,487, while a typical two-bedroom apartment saw a 0.5% increase to
The spring housing market is traditionally a bustling time for real estate, but recent data shows that mortgage demand is at a standstill. The Mortgage Bankers Association reported that application volume remained flat last week, dropping by a mere 0.7% compared to the previous week. This lackluster performance is indicative of the current state of
Federal prosecutors have taken legal action to seize two luxury apartments in New York City worth $14 million. These apartments are said to have been acquired through an alleged corrupt scheme involving Mongolia’s large copper mine. The lawsuit, filed in U.S. District Court in Brooklyn, reveals a series of transactions totaling $128 million that were
In an attempt to make luxury vacation home ownership more accessible to a wider audience, Pacaso has expanded its business model to include homes with share prices starting as low as $200,000. This is a significant shift from their initial offerings of multimillion-dollar homes. By allowing individuals to purchase shares of vacation homes, generally in
The latest analysis on the housing market reveals a slowing down in the rate at which home prices are growing. In February, U.S. home prices increased by 0.6%, aligning with the average monthly gain over the past eight years leading up to the onset of the Covid-19 pandemic. This phenomenon, as stated by Daryl Fairweather,
The International Monetary Fund’s Managing Director, Kristalina Georgieva, painted a grim picture for China at the China Development Forum in Beijing. She stated that China is currently at a crossroads, faced with the decision to either stick to its old economic policies or implement reforms to stimulate growth. The IMF believes that with a comprehensive
Donald Trump and his son, Eric, are facing a significant legal battle as New York’s attorney general attempts to collect a $454 million civil business fraud judgment. Eric Trump has accused Attorney General Letitia James of trying to bankrupt his father with this judgment. The former president’s lawyers have stated that he is unable to
In a recent development, a judge has mandated that Donald Trump’s company must inform a court-appointed financial monitor about any attempts to secure an appeal bond in response to a civil business fraud case. This decision comes after Trump’s legal team’s assertion that securing such a bond has proven to be a challenging task due
The National Association of Realtors reported a surprising 9.5% surge in existing home sales in February, reaching 4.38 million units on a seasonally adjusted annualized basis. This increase caught housing analysts off guard, as they were anticipating a slight drop in sales. While year-over-year sales were down by 3.3%, February’s gain marked the largest monthly