Buying a home in the U.S. has always been considered a significant financial step, but what many fail to realize is the true cost of keeping and maintaining a home. The hidden costs of homeownership are often overlooked, adding up to an average of $18,118 annually or $1,510 per month, according to a report by
Real Estate
The current state of the real estate market shows that home equity is reaching near all-time highs, with total equity for U.S. mortgage holders surpassing $17 trillion in the first quarter of 2024. Despite this growth, accessing this wealth may prove to be challenging due to the prevailing high interest rates, financial advisors warn. Homeowners
The housing market is a topic of great debate among experts, with conflicting opinions on its trajectory for the latter part of the year. According to Glenn Kelman, chief executive of Redfin, there is a general consensus that the housing market will show signs of improvement in the upcoming months. However, Jeff Ostrowski, a housing
When it comes to the real estate market, iconic homes with famous connections often come with a premium price tag. Buyers, especially the uber-wealthy, are willing to pay extra for homes linked to pop culture figures or famous movies. Real estate experts like Tomer Fridman and Josh Altman emphasize the uniqueness and rarity of owning
There is a common belief among Americans that real estate is the best long-term investment option. According to a recent survey conducted by Gallup, about 36% of Americans ranked real estate as their top choice for long-term investing, surpassing stocks, gold, and savings accounts. This sentiment is often tied to the emotional appeal of real
Recent data shows that mortgage interest rates have reached the highest level since early May, leading to a decrease in mortgage demand for the second consecutive week. The Mortgage Bankers Association reported a 5.2% decline in total mortgage application volume compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages also
The Dubai Mall, known for being one of the largest malls in the world, has announced a massive expansion plan that will cost an estimated 1.5 billion dirhams ($408 million). With 1,200 stores, 200 food and beverage vendors, and a plethora of attractions including an aquarium, ice skating rink, and theme parks, the mall is
When examining the current state of the housing market, one common concern among consumers is the role of real estate investors in driving up housing prices. While it is true that real estate investors purchased approximately 44,000 U.S. homes in the first quarter of 2024, the impact of their activity on deterring potential homeowners is
The fusion of luxury real estate and fine art has become a burgeoning trend, as demonstrated by Paul Lester, a partner at the real estate firm The Agency. Lester has successfully integrated significant artwork by contemporary artists into the high-end properties he lists, creating a unique selling point that appeals to a discerning clientele. By
In April, signed sales contracts on existing homes experienced a significant drop of 7.7% compared to March. This decline marks the slowest pace since April 2020, indicating a possible shift in the real estate market landscape. The National Association of Realtors reported that pending sales, which are a predictor of closed sales in the coming