China’s real estate industry continues to face challenges that are far from over, according to a recent report by global investment firm KKR. The firm’s head of global and macro asset allocation, Henry H. McVey, highlighted the need for addressing the fundamentally overbuilt real estate sector quickly. The property industry in China has been on
Real Estate
The past week has seen minimal movement in mortgage rates, mirroring the stagnant state of mortgage demand for the second consecutive week. The reasons behind this lack of activity can be attributed to the excessive costs associated with mortgages and the limited supply available in the market. Potential homebuyers find themselves constrained by these factors,
The gap between housing costs and median household incomes in the United States is widening, presenting a significant challenge to prospective homebuyers. According to a recent analysis by Redfin, individuals looking to purchase a typical house in the U.S. would need to earn $113,520 annually. This figure is a staggering 35% higher than the median
The month of March brought about an increase in rent prices for both one- and two-bedroom apartments after six consecutive months of stagnation. According to a report by Zumper, the average monthly cost for a one-bedroom apartment in the U.S. rose to $1,487, reflecting a 0.3% increment from the previous month. Similarly, the typical price
The spring housing market is typically a busy time, but recent data suggests a lackluster start to the season. Despite this being a prime time for home sales, mortgage demand remains stagnant. According to the Mortgage Bankers Association, application volume decreased by 0.7% last week compared to the previous week. This trend paints a bleak
Federal prosecutors have taken legal action to seize two upscale New York City apartments valued at $14 million, which are believed to have been purchased using funds obtained through a corrupt scheme connected to Mongolia’s significant copper mine. The lawsuit, filed in U.S. District Court in Brooklyn, exposes a series of alleged illegal contracts totaling
In the midst of a challenging and competitive housing market, luxury vacation home co-ownership platform Pacaso has set out to revolutionize the way people experience second home ownership. Launched in 2020 with a focus on multimillion-dollar homes, Pacaso is now expanding its offerings to include properties with share prices starting as low as $200,000. This