The spring housing market has been facing challenges with low supply, high prices, and spiking interest rates, leading would-be homebuyers to shift their focus towards new construction properties. According to Nicole Bachaud, a senior economist at Zillow Group, there is more opportunity in new construction homes compared to previously owned ones. In March, approximately 693,000
Real Estate
The recent increase in mortgage rates for the third consecutive week has led to a decrease in mortgage application demand. According to the Mortgage Bankers Association, application demand dropped by 2.7% compared to the previous week. This decline is a concerning trend for potential homebuyers who may be deterred by higher interest rates. Applications to
Just an inch of floodwater can generate tens of thousands of dollars in property damage. Homeowners who have experienced such disasters often find themselves in a difficult situation, needing to move and start over. In some cases, the surprising buyer for their home turns out to be the government. FEMA has been assisting in the
When considering the purchase of a newly built home, potential buyers may be surprised by the high costs associated with such properties. The median sale price for new construction in the U.S. was reported to be $400,500 in February, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development.
Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp, has raised concerns about the potential vulnerabilities of regional banks as their quarterly earnings are unveiled on Wall Street. She expressed worries about certain banks that still heavily rely on industry deposits and have significant exposure to concentrated commercial real estate. Bair, who led
Mary Ellen Stanek, the co-chief investment officer at Baird Advisors, emphasizes the importance of maintaining a high batting average rather than focusing on hitting home runs in the fixed income market. Stanek’s philosophy revolves around consistency and avoiding high-risk strategies that may lead to significant losses. Instead of aiming for extraordinary gains, she prioritizes a
Truong My Lan, the chairwoman of Van Thinh Phat Holdings Group, has been sentenced to death for her involvement in Vietnam’s largest financial fraud case. The charges against her include embezzlement, bribery, and violating banking regulations, with Lan receiving a 20-year prison term for each of the latter two accusations. Despite her defense claiming she
China’s economy is facing challenges in 2024 as it struggles to stimulate economic activity amidst a backdrop of falling home prices. Analysts like Richard Koo have warned that the country may be entering a “balance sheet recession,” similar to Japan’s economic slump. In order to revitalize the economy, China needs to convince people that home
Buying a new home is an exciting milestone for many people, but the financial implications can sometimes be overwhelming. According to a recent survey by Real Estate Witch, nearly 75% of new homeowners reported having regrets about their purchase. Surprisingly, one of the most common gripes among new owners was property taxes, catching 33% of
The housing market in the United States is currently experiencing a surge in the number of “million-dollar” cities, where the typical home is valued at $1 million or more. According to a recent analysis by Zillow, there are now 550 such cities in the country, an increase of 59 from the previous year. This surpasses