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
Real Estate
Following weeks of negotiations, insurance giant Chubb decided to back out of providing a $464 million appeal bond for former president Donald Trump in his civil fraud case. This decision came shortly after Chubb drew criticism for providing Trump with a bond in a separate case, prompting more than 30 other companies to also refuse
The cost of buying a home in the United States has risen significantly over the past six decades, far outpacing the rate of inflation. A recent study by Clever, a real estate data company, found that while inflation has only increased by 10 times since 1963, home prices have skyrocketed by 24 times. If home
In a groundbreaking move, the architecture industry is being transformed by the integration of artificial intelligence. Leading the charge is ICON, the developer behind the first fully 3D-printed housing developments in the United States. The company recently introduced Vitruvius, an AI program designed to streamline the process of designing custom homes online, making it more
President Joe Biden is set to visit Nevada and address the issue of corporate landlords allegedly keeping rents artificially high in the state. This move is seen as part of Biden’s strategy to shift the blame for high costs of living away from his administration and onto corporations with significant pricing power. Despite an overall
Former President Donald Trump is facing challenges in securing an appeal bond to prevent New York’s attorney general from seizing his real estate assets in relation to a $454 million civil fraud judgment. Trump’s lawyers have indicated that it has been “impossible” for him to obtain a bond that would fully secure the judgment while
The spring season is traditionally a time when both home buying and selling activities are in full swing. As we approach this time of year, it is important to note that the available housing supply is already rebounding. Recent data from Redfin, a real estate site, shows that the number of new listings has increased
The Federal Reserve is expected to keep interest rates unchanged in the near future, despite the potential for rate cuts on the horizon. This decision comes after a series of 11 rate hikes between 2022 and 2023, causing consumer borrowing rates to skyrocket. With inflation remaining high and interest rates elevated, many consumers are feeling
Rudy Giuliani, the former New York City mayor, has found himself in financial turmoil, with creditors pressuring him to sell his $3.5 million Florida condo to help alleviate his substantial debts. This comes after Giuliani filed for bankruptcy protection in December, attributing his financial struggles to various unpaid debts, including a $148 million payment to
Spring is upon us and with it comes a highly competitive rental market for those in search of a new place to rent. According to Zillow Group’s latest Rental Market Report, the average asking rent in the U.S. rose to $1,959 in February. This marks a 3.5% increase from the previous year, showcasing the ongoing