These days, housing affordability is a struggle for nearly everyone. But for young adults just starting out, soaring home prices and sky-high rents have become one of the greatest obstacles to making it on their own. Nearly one third, or 31%, of Generation Z adults live at home with parents because they can’t afford to buy
Month: January 2024
This onetime gorgeous estate is seeking an owner to give it a new lease on life. In Westchester County’s coincidentally named town of New Castle, a formerly glorious castle built by Abercrombie & Fitch’s co-founder, the topographer David T. Ambercrombie, is looking for a buyer who doesn’t mind fixer-uppers and has $2.9 million to spare. The
A “For Sale” outside a house in Hercules, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. David Paul Morris | Bloomberg | Getty Images Mortgage rates moved a little bit higher last week, for the second
Pretty nice deal for a floating one-bedroom, eh? Currently docked in British Columbia’s Sailor’s Cove marina, this adorable Canadian houseboat offers 377 square feet of chicly designed living space for $187,000 — much less than a home of similar size might command on land. The “float home,” as it is repeatedly referred to in the
A for sale sign hangs outside a home on the west side of Detroit, Michigan. Fabrizio Costantini | Bloomberg | Getty Images Home prices are rising faster and faster each month, fueled by a decline in mortgage rates. On a national level, home prices jumped 5.2% in November compared with the same mont a year
A sharp drop in mortgage interest rates in December may have kickstarted this year’s spring housing market early. Rates are about a full percentage point lower than they were in October, and consumers expect they will fall even more. Optimism about mortgage rates increased sharply in December, according to a monthly consumer survey by Fannie
The National Association of Realtors is grappling with more turmoil in its top leadership ranks just over two months after the trade group’s CEO stepped down well before his planned retirement. The Chicago-based organization said Monday that NAR president Tracy Kasper has resigned, effective immediately, and is being succeeded by the trade group’s president-elect, Kevin
Tracy Kasper, a realtor from Nampa, Idaho. Courtesy: NAR The president of the National Association of Realtors on Monday said she was resigning due to a blackmail threat that sought to “compromise” her leadership role. NAR President Tracy Kasper said she had notified the group’s leadership team “that she recently received a threat to disclose
Separate reports by major brokerages CBRE and JLL show that the Manhattan office market is far from dead — or even stagnant. The surveys illustrate the extent to which the top tier of the office market is “impervious” to woes at the lower end, as CBRE phrased it. (The data from both firms include both new
A pedestrian holds an umbrella as they walk along a street in the rain in Times Square, New York, on Sept. 26, 2023. Ed Jones | AFP | Getty Images The state of the U.S. economy may be a chief concern among Americans, but 2023 wound up as a pretty good year for the macroenvironment.
Snowy Buffalo is slated to have the hottest major housing market in 2024, according to a report. Despite the notoriously long, harsh winters, the Western New York town topped Zillow’s list of the 50 “hottest” markets of 2024 due to its affordability— making owning a home a real possibility for young people. “Housing markets are
This sumptuous lodge sits high above a resort village — but is dwarfed by a legendary mountain. Some 325 feet above the town of Cervinia, Italy, and in full view of the Matterhorn, a chalet known as La Fenice has been listed by Savills for $26.29 million, making it the highest-priced property the Italian Alps
Howard Davies, chairman of Natwest Group Plc. Bloomberg | Getty Images The chair of one of Britain’s biggest banks faced a backlash Friday after saying it is not “that difficult” to get on the property ladder. NatWest chair Howard Davies told the BBC’s “Today” program that the current economic landscape — which has seen interest
Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 3, 2023. Shannon Stapleton | Reuters The New York attorney general on Friday asked a
Danish tennis champ Caroline Wozniacki and her husband, retired NBA All-star husband David Lee, have put their sprawling Florida home on the market. Wozniacki, 33, and Lee, 40, purchased the penthouse atop the luxe Palazzo Del Sol condo complex on Miami-Dade County’s exclusive Fisher Island for $18.7 million back in June 2021, according to the
In the wilds of Westchester County, a one-of-a-kind property is seeking a new owner. This custom-built, Chappaqua, New York residence is set on nearly 9 acres of land and has a human-sized terrarium of sorts within — all for $1.9 million. Commissioned by behavioral scientist Francis Mechner and his wife Vicki, and completed in 1969,
A “For Sale” sign sits in front of a new home May 27, 2004 in Miami, Florida. Joe Raedle | Getty Images Mortgage demand ended 2023 on a sour note, despite a sharp drop in mortgage interest rates during December. Total application volume was down 9.4% for the week ended Dec. 29, compared with two
The Federal Reserve‘s effort to bring down inflation has so far been successful, a rare feat in economic history. The central bank signaled in its latest economic projections that it will cut interest rates in 2024 even with the economy still growing, which would be the sought-after path to a “soft landing,” where inflation returns to the Fed’s
All aboard this tiny house on wheels! In the Wisconsin resort town of Lake Geneva, a quaint converted rail car is looking for a new permanent passenger. Made up of three remodeled cabooses for a total of 960 square feet of living space, the unique abode is currently seeking $125,000 for sale. “Tiny house alert!
Another major law firm lease just got signed on midtown Sixth Avenue that’s good news for Vornado Realty Trust and a rare, narrow ray of light for the embattled Trump Organization. National law firm King & Spalding, a tenant at SL Green’s 1185 Sixth Ave. at West 47th Street for two decades, is moving six
Although Fifth Avenue in Midtown reigns as the world’s priciest-to-rent shopping corridor with sidewalk-level stores charging $2,000 per square foot, according to Cushman & Wakefield, there soon might not be anywhere left to rent. That’s because retailers are rapidly buying the buildings that are home to their glamorous stores. It happened again this week with news