As property values continue to soar, more Americans are finding themselves in a situation where they need to pay capital gains taxes on their home sale profits. According to a recent report from real estate data firm CoreLogic, nearly 8% of U.S. home sales in 2023 yielded profits exceeding $500,000, a significant increase from the
Real Estate
The dream of owning a home has become increasingly out of reach for renters, as revealed by a recent survey conducted by the New York Federal Reserve. The survey, which was released on Monday, showed a record low of 13.4% of renters still holding onto hopes of “residential mobility,” down from 15% in the previous
The cost of renting a property in Asia varies significantly across different cities, with data collected in April indicating the median rental prices for 1-bedroom apartments. These prices are based on the median buying price per square meter and the median monthly rental price in the most expensive region of each city. Financial experts typically
As mortgage rates continue to rise, consumers are seeking ways to lower their monthly payments, leading many to consider adjustable-rate mortgages (ARMs). These loans often offer lower initial interest rates compared to fixed-rate mortgages, making them an attractive option for some homebuyers. However, ARMs are considered riskier due to their fluctuating nature. While they may
The housing market continues to experience strong demand and tight supply, leading to a significant increase in home values. In February, home prices surged by 6.4% year over year, marking the fastest rate of price growth since November 2022. Both the 10-city and 20-city composites also saw substantial annual gains, with some cities reaching all-time
The current average 30-year, fixed-rate mortgage has risen to 7.17% as of the week ended April 25, according to Freddie Mac data reported by the Federal Reserve. This represents a slight increase from the previous week’s rate of 7.10%. With the uncertainty surrounding future rate cuts by the Federal Reserve, potential home buyers and sellers
Despite recent reports suggesting a scaling back of Saudi Arabia’s $1.5 trillion NEOM megaproject, Economy Minister Faisal Al Ibrahim has adamantly stated that all projects are moving full steam ahead. The futuristic desert development on the Red Sea coast, hailed as unprecedented, is still on track to deliver something groundbreaking. Reports surfaced in early April
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
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