An aerial view of existing homes near new homes under construction (UPPER R) in the Chatsworth neighborhood on September 08, 2023 in Los Angeles, California. Mario Tama | Getty Images Homeowners looking to refinance are finding savings after mortgage rates dropped again last week. The average contract interest rate for 30-year fixed-rate mortgages with conforming
Month: December 2023
In a league where posh residences dominate players’ lifestyles, the Giants’ newfound sensation Tommy DeVito has chosen a different route, opting to remain rooted in the only place he’s ever called home. The 25-year-old quarterback, who recently clinched a thrilling victory against the Packers, still resides with his parents in the modest 2,300-square-foot Cedar Grove,
The East China headquarters of Country Garden is being shown in Zhenjiang, Jiangsu Province, China, on October 10, 2023. Nurphoto | Nurphoto | Getty Images Embattled Chinese real estate developer Country Garden may avoid a default on its yuan-denominated bonds after most holders of a local note agreed not to demand repayment this week, according to Bloomberg
Eighty-year-old billionaire, Nicolas Puech, scion of the iconic fashion dynasty Hermès, is allegedly orchestrating a staggering succession saga that involves adopting his 51-year-old gardener. Puech, unmarried and without children, plans to legally designate his “former gardener and handyman” from a “modest Moroccan family” as his rightful heir, as reported by the Swiss publication Tribune de
The Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting this week after recent signs the economy is in fairly good shape and as inflation continues to drift lower. “While there’s been talk about an imminent recession going back to early last year, the U.S. economy has
Luxury properties in the Kensington and Chelsea district of London, UK, on Monday, Aug. 21, 2023. Jason Alden | Bloomberg | Getty Images The U.K. property market has been a rollercoaster for renters and prospective homeowners alike for over a year now. Rents soared throughout 2022 and 2023 as supply and demand imbalances led to
Former President Donald Trump wrote in a social media post on Sunday that he won’t testify in his $250 million civil fraud trial in New York on Monday. “I will not be testifying on Monday,” Trump wrote in an all-caps, multi-part post on Truth Social. Trump had previously been expected to return to the witness
The Fried, Frank annual holiday party at Cipriani 42nd Street is the one by which other real estate soirees are judged — and the best informal barometer of the industry’s mood. The bash returned in full force on Dec. 5 after three years of Covid-influenced shrinkage. Law firm real estate chairman Jon Mechanic, the ever-ebullient
This suburban New York mansion is fit for royalty. Former Miss America Vanessa Williams lives in an 11,603-square-foot $1.75 million Chappaqua home, which will be featured on MTV’s “Cribs” on Dec. 13. The 4.45-acre Westchester County spread is so sprawling, the singer and actress uses a golf cart to retrieve her mail. A highlight of
In a city steeped in artistic heritage, a piece of history just changed hands — and under the radar, to boot. Michelangelo’s childhood home, a relic from the Italian Renaissance, quietly transitioned to new owners near Florence, Italy. While the villa exchanged hands in a hush-hush deal brokered by Building Heritage, the exact sale price
Hong Kong residential prices could fall by another 10% in 2024, according to DBS Hong Kong. Bloomberg | Bloomberg | Getty Images Hong Kong’s property market has plunged nearly 20% since its peak, and it may be a good time for homeowners to buy — but investors might want to think twice, according to Peter
Disney’s latest venture isn’t a theme park or a movie, but a residential community in North Carolina. However, the announcement of “Asteria” has left locals with skepticism and curiosity, likening the idea to something out of a dystopian novel. Settled in Pittsboro, Chatham County — just outside the “Triangle” area of Raleigh, Durham and Chapel
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT A Redfin sign in front of a home for sale in Atlanta on Nov. 10, 2022. Elijah Nouvelage | Bloomberg | Getty Images This year was the least affordable year for homebuying in at least in the past 11 years, according to a Thursday report
Residential buildings under construction at China Vanke Co.’s Isle Maison development in Hefei, China, on Monday, Nov. 27, 2023. China is ramping up pressure on banks to support struggling real estate developers, signaling President Xi Jinping’s tolerance for property sector pain is nearing its limit. Source: Bloomberg Bloomberg | Bloomberg | Getty Images BEIJING — China
The real estate crystal ball has good news to share. This year’s stagnant market may have been defined by high rents, housing costs and mortgage rates — but it’s almost over, and the next one holds better things, according to residential real estate brokerage Redfin. The company has released its end-of-year forecast, and would-be homeowners
Homes in Hercules, California, US. Bloomberg | Bloomberg | Getty Images After surging over 8% in October, mortgage rates are falling back toward 7% again, and that is jump-starting the refinance market. Last week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.17% from 7.37%,
This home doesn’t even exist, yet it’s already set a prominent sales record in one of the world’s most well-heeled cities. In Dubai, a profoundly opulent domicile has just sold for slightly more than $136 million, the most expensive price ever paid for a penthouse there, according to CNN. (The now-smashed former record was set
itsskin | Getty High interest rates have pushed many would-be home sellers and buyers to the sidelines in 2023. Yet there are signs both sides may be more willing to take on a high-rate mortgage if other key factors aligned. More than half — 54% — of homeowners said they would move if they found
Close up of Chinese Yuan notes, with Mao Tse-tung Peter Dazeley | The Image Bank | Getty Images China’s recent policy support is aimed at fixing its system and shouldn’t be seen as economic stimulus, according to Societe Generale’s Asia chief economist and head of research. “Actually, to be frank, I don’t think anything [that]
Halfway down a Bushwick side street, in the back of an artisanal doughnut shop and through a photobooth, this rhino-themed restaurant has quietly been slinging drinks and bites since October. Ra-Ra Rhino, the latest addition to the city’s hidden watering hole scene, offers a sleek, Tiki-influenced back room with an eccentric menu of drinks and
Variety won top honors Sunday at the National Arts & Entertainment Journalism Awards, taking the trophy for best entertainment publication along with 11 other first-place wins. The May 3 cover package “No Words: What the Writers Strike Means for Hollywood” was recognized in the category of best entertainment publication during the ceremony held at the
NANJING, CHINA – AUGUST 18, 2023 – Aerial photo shows a residential area of Evergrande in Nanjing, East China’s Jiangsu province, Aug 18, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Getty Images Shares of Evergrande Group rose over 9% as the beleaguered Chinese property firm’s court hearing over its possible liquidation was postponed to Jan.
We weren’t exaggerating when we recently foresaw a “rolling thunder” cavalcade of large new office deals by year’s end. But the largest was one we didn’t see coming: a 445,000 square-foot expansion by Wells Fargo at Related Companies’ 20 Hudson Yards that swallowed up all of the former Neiman Marcus floors as well as adjacent
Miami-based Eagle Property Capital Investments and Mexico City’s Promecap have made waves in the real estate realm by successfully raising a staggering $309 million for a dynamic investment fund specifically honing in on multifamily properties across the Sun Belt states. The ambitious joint venture, announced via a press release, unveiled its intention to utilize this
Twin Rivers Farm could break records as Tennessee’s priciest home if it fetches its $65 million asking price. The property is located just 30 miles southwest of Nashville in the suburb of Leipers Fork, known for attracting high-net-worth individuals and celebrities such as Justin Timberlake and Nicole Kidman. “It’s one of the most significant real
Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since the National Association of Realtors began tracking this metric in 2001, meaning it’s even worse than readings during the financial crisis more than a decade ago. Sales were down 8.5% from October
A famous work of street art has gone down with its ship. In the coastal English town of Dover, a landmark piece by the long-celebrated street artist Banksy has been destroyed as a result of its building’s demolition — but parts of the work may still get another life, CNN reported. The mural, which depicted
Detached houses on a large housing development on the western side of Nashville, Tennessee. Georgeclerk | Istock | Getty Images Nashville natives say they barely recognize the city’s skyline anymore. And they probably won’t anytime soon, as cranes still litter the picture. The Nashville building boom is in full effect, despite higher interest rates, higher
Former U.S. President Donald Trump looks on, as the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James continues, in New York City, U.S., October 3, 2023. Eduardo Munoz | Reuters A New York appeals court Thursday reinstated a gag order