Recent data published by property portal Rightmove shows that London landlords are selling their buy-to-let properties at record rates. Around 29% of homes currently for sale in the capital were previously rented out, indicating a significant shift in the market. This spike is not unique to London, as 18% of all nationwide listings in the
Real Estate
In the current housing market, mortgage demand is heavily skewed towards refinancing, with interest rates declining for the fifth consecutive week. According to the Mortgage Bankers Association, total mortgage application volume increased by just 1.6% last week compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances
There has been recent buzz surrounding Rupert Murdoch-owned REA Group and its contemplation of a takeover offer for the prominent U.K. property portal Rightmove. This potential acquisition aims to create a global digital real estate business that could significantly impact the industry. The Australian property listings company, under the control of Murdoch’s News Corp, released
The latest data from the S&P CoreLogic Case-Shiller U.S. National Home Price Index reveals that despite mortgage interest rates increasing, home prices have reached the highest level ever. In June, prices nationally were 5.4% higher compared to June 2023. Although this marks a record high for the index, the annual gain was slightly lower than
The landscape of ownership is changing rapidly in today’s society. A report by Intuit Credit Karma reveals that Americans are increasingly choosing to rent various goods and services, ranging from cars and apartments to clothing and furniture. Affordability is one of the key factors driving this shift, with 47% of adults opting to rent, especially
Manhattan, New York is famous for its exorbitant real estate prices, with the median price per square foot being $1,500. This makes it one of the most expensive places to live in the world. However, when comparing the price of a 500-square-foot apartment in NYC to properties in popular Mediterranean destinations, the vast difference in
In today’s housing market, buying a home is becoming increasingly less affordable for many individuals. The combination of higher mortgage rates and a shortage of houses on the market has led to elevated prices, creating a financial crunch for potential buyers. The median sales price for homes has continued to rise, reaching $422,600 in July,
Last week, mortgage rates saw a decline for the fourth consecutive week. However, the reaction from both existing homeowners and potential homebuyers was rather subdued. The Mortgage Bankers Association reported that overall mortgage application volume only rose by a marginal 0.5% compared to the previous week. This tepid response is indicative of a lack of
Homebuyers and homeowners have been eagerly awaiting the Federal Reserve’s potential interest rate cut in September. However, another concerning issue looms on the horizon as the National Flood Insurance Program (NFIP) needs to be reauthorized by September 30. This government-sponsored flood insurance program plays a critical role in protecting properties against flood damage, which is
Affordable housing has become a hot topic within the political landscape, especially with Vice President Kamala Harris outlining her intentions to tackle the issue. However, not everyone is convinced that her proposals will effectively address the growing housing crisis in the U.S. Edward Pinto, a senior fellow and codirector of the American Enterprise Institute’s Housing