In January, sales of previously owned homes increased by 3.1%, reaching a total of 4 million units on a seasonally adjusted annualized basis. However, despite this monthly gain, sales were down by 1.7% compared to the previous year. The National Association of Realtors reported that the count is based on closings that likely took place
Real Estate
The Pew Research Center recently conducted a study that revealed intriguing insights into the perception of success among Black Americans. Despite the challenges many face in achieving homeownership, a significant portion still view it as a symbol of success. The study found that approximately 66% of Black Americans consider themselves successful in various aspects of
Recent data shows that Black women are leading the charge in homebuying among various racial groups. The percentage of single female homebuyers is significantly higher among Black women compared to other demographics. According to the 2023 Snapshot of Race and Home Buying in America report by the National Association of Realtors, Black women make up
Eaton, a power management company, showcased a strong performance during the fourth quarter, beating both earnings and revenue expectations. The company also provided a robust outlook for 2024, setting itself apart from its competitors in the industrial sector. With a continuously growing backlog and a record-breaking share price, Eaton seems to be on a winning
Recent data-driven spikes over the past two weeks have caused mortgage rates to soar to new heights, with the average rate on the 30-year fixed mortgage reaching 7.14%. This is the highest level in two months, marking a significant increase from the rates that were hovering around 6.6% in December. The sudden rise in rates
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
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.