Homeownership is a dream that seems out of reach for many Americans, and unfortunately, it is even more elusive for Black Americans. A recent report from LendingTree reveals that in the largest metropolitan areas of the United States, Black individuals own a disproportionately small share of homes compared to their population size. This stark disparity
Real Estate
In a startling turn of events, Wall Street experienced a significant decline on Tuesday as the release of higher-than-anticipated consumer inflation data sent shockwaves through the market. The unexpected surge in inflation led to a sell-off in bonds, causing the 10-year Treasury yield to surpass 4.30% and driving equity prices sharply lower. This decline in
China’s economy is currently undergoing a massive transition that has led to a confidence deficit, according to Bill Winters, CEO of Standard Chartered. This lack of confidence is evident both among external investors and domestic savers. However, Winters believes that China’s shift from an old economy to a new one is showing promising signs in
The recent upswing in interest rates has had a significant impact on the mortgage market, with homebuyers showing signs of pulling back. Mortgage demand, particularly for home purchases, has struggled to contend with these rising rates. This article examines the implications of higher interest rates on mortgage application volumes and the overall housing market. According
Billionaire Adam Neumann, the co-founder of WeWork, is reportedly making efforts to buy back the bankrupt real-estate company, as reported by DealBook. Neumann, along with his startup Flow and Dan Loeb’s Third Point fund, has conveyed a “sincere interest” in acquiring WeWork and its leases either through bankruptcy proceedings or by providing debtor-in-possession (DIP) financing.
The realm of mortgage rates has been a rollercoaster ride, with the average rate on the popular 30-year fixed mortgage reaching 7.04%, a threshold unseen since December. This recent escalation comes hot on the heels of a substantial surge prompted by the unexpected boost in the January employment report. The plot thickened as a monthly
A group of renters in the U.S. has come forward, claiming that their landlords are utilizing software to impose inflated rent hikes. According to tenants at Portside Towers in New Jersey, which was purchased by Equity Residential in 2019, the management started significantly increasing prices after providing concessions during the COVID-19 pandemic. Allegedly, the software
Rent prices in certain areas have seen a slight decrease, but the relief is not coming fast enough for tenants who are grappling to make their monthly rent payments. According to a recent report by the Joint Center for Housing Studies of Harvard University, half of all renters in the U.S. spent more than 30%
The rental market is experiencing a shift as rent costs start to come down from record-high asking prices. This change reflects a cooling trend rather than a drastic decline. According to Whitney Airgood-Obrycki, a senior research associate at the Joint Center for Housing Studies of Harvard University, rental markets are growing at a slower pace,
The recent surge in mortgage demand has come to a halt as potential buyers face fierce competition for a limited supply of homes. This drop in demand, as indicated by the Mortgage Bankers Association’s data, exposes the challenges that buyers currently face in the housing market. Last week, the total volume of mortgage applications experienced