An aerial view shows a subdivision that has replaced the once rural landscape on July 19, 2023 in Hawthorn Woods, Illinois. Scott Olson | Getty Images After a weaker-than-expected spring housing market, summer looks no better. High home prices continue to rise, mortgage rates aren’t coming off recent highs, and consumers are unimpressed by the
Month: June 2024
Hail to the cha-ching. President Joe Biden and First Lady Jill Biden treated their various Delaware real estate holdings like a personal ATM for years, taking out several mortgages and refinancing a whopping 35 times, according to a report. The couple, said to boast a net worth of $10 million, allegedly borrowed $6 million on
Thana Prasongsin | Moment | Getty Images The typical newly built house on the market these days is smaller than those for sale a decade ago. Whether that is a good or bad sign will depend on your priorities for your future home. In the first quarter of 2024, a single family home newly under
Home prices set another record in April, even as mortgage rates rose and the supply of homes for sale increased. Usually, under those circumstances, prices would weaken, but today’s housing market is unlike any other in recent history. Prices in April rose 6.3% compared with the year-earlier month, according to the S&P CoreLogic Case-Shiller National
Ever dream of living in Tony Soprano’s world? Now’s your chance. A TV-famous house in Newark — where the fictional mob boss on HBO’s “The Sopranos” dug up the yard in a vain attempt to retrieve $40,000 — is up for grabs. And it’s all yours for just $579,900. This Essex County property was a star
The Spiral has been a favorite Realty Check subject since we first reported Pfizer would anchor the Tishman Speyer tower back in August 2017. Its strong pulling power — enhanced by its top-floor ZO Clubhouse amenity center with an open-air terrace — subsequently lured HSBC, Debevoise & Plimpton and Alliance Bernstein among other marquee-name tenants.
10’000 Hours | Digitalvision | Getty Images There are areas in the U.S. that are considered to be the least difficult places to buy a home, according to a new real estate indicator. When the counties are sorted by index rank, Iroquois County, Illinois is the least difficult market to buy a home, according to
The move may take a while. A home in a ritzy San Francisco neighborhood, which usually sees property sell for millions, hit the market for a head-scratching price — but prospective owners won’t be allowed to move in for nearly 30 years. The property, which is located two blocks from the city’s northern shore, was
Sales of previously owned homes are sitting at a 30-year low and didn’t move much in May as prices hit a new record and mortgage rates remain high. So-called existing home sales in May were essentially flat, down 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units, according to the National
Leopatrizi | E+ | Getty Images More built-for-rent single-family homes are being constructed in the U.S., according to the National Association of Home Builders, and experts say this is in part due to the housing affordability crisis. “When mortgage rates move higher, and it’s harder to buy a home, renting becomes more of an option,”
High home prices and stubborn mortgage rates make the current housing market seemingly difficult to navigate—particularly for underserved populations. Several grim numbers tell the story: The gap between Black and white homeownership is worse today than in 1968, when the Fair Housing Act was passed. Lower-income families are 22% more likely to be denied a home
Former Google CEO Eric Schmidt just offloaded his sprawling Silicon Valley estate for a cool $22.5 million, barely two months after putting it on the market. The luxurious property, nestled in the ultra-wealthy Bay Area enclave of Atherton, was initially listed at the end of April for $24.5 million. Last week, it officially sold, according
File photos: “For Sale” sign Brandon Bell | Getty Images Consumers seemed unimpressed by the latest drop in mortgage rates. Total mortgage application volume rose just 0.9% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550
Hong Kong retained its pole position as the world’s most expensive city for expats in 2024, according to Mercer. Chunyip Wong | E+ | Getty Images Asia’s biggest financial hubs have once again clinched the top spots for being the costliest cities for international workers to live in, according to Mercer. Hong Kong was ranked
A prominent south Florida lawyer abruptly withdrew Monday from repping twin accused rapists and real-estate heirs Oren and Alon Alexander. A well-placed source told The Post that lawyer Jim Ferraro’s decision to step down from the troubling Manhattan case was made at least partly because of his personal ties to the 36-year-old millionaire brothers —
The imminent completion of LCOR’s 1515 Surf Avenue is the best news Coney Island has seen since the Parachute Jump was designated as a city landmark. The twin-towered apartment building just a short walk to the ocean brings the neighborhood just what it needed: more market-rate housing. The project’s 16 and 26-story towers will have
Row of shophouses in Singapore’s Katong area. Olivier Chouchana | Gamma-rapho | Getty Images SINGAPORE — The ornate, colorful “shophouses” that line the streets in some old neighborhoods of Singapore are not what immediately comes to mind when people think of the city-state. In a country where land is scarce and public housing can cost
While the Appalachian region of the U.S. might conjure up unflattering stereotypes of coal mines and opioid addiction, residents Greg and Missi Moore don’t mind the rumors that circulate about where they live. They even joke about them. “They call me ‘The Anomaly’ down here, because I have all my teeth,” quips Greg, who is 6-foot-5 and also
Goodboy Picture Company | E+ | Getty Images More homeowners are listing their homes for sale — but properties are taking longer to sell as potential buyers face high prices and interest rates. New listings from home sellers jumped in May, up 13% from a year ago, according to the latest market report by Zillow.
As sea levels rise and storms intensify, coastal real estate is seeing flooding and erosion like never before. From Dana Point, California, to Long Island, New York and Nantucket, Massachusetts, some of the nation’s priciest coastal real estate is in an increasingly precarious position due to climate change. This year’s hurricane season is already underway,
An unsuspecting husband and wife found themselves at the center of a bizarre real-estate racket. In Kansas City, a listing recently appeared for their five-bedroom ranch house being sold for the beyond bargain price of $10,200 — only, the property wasn’t for sale, but part of a strange swindling scheme, its owners told the Kansas
The S & P 500 and Nasdaq extended their record rallies this week following cooler-than-expected consumer inflation data Wednesday morning. While Fed rate cuts would likely benefit the overall stock market, several names in the CNBC Investing Club portfolio — from housing plays to autos to biotech — could really get a boost. Connecting the
Senior couple repairing kitchen cabinet at home Momo Productions | Digitalvision | Getty Images Alex Marrero and his wife bought their first home this spring in Coral Springs, Florida — and the couple has already spent nearly $17,000 on home maintenance, repairs and installations. While they knew they needed to do improvements from “the minute
A mockup of what Revolut’s new global HQ in Canary Wharf will look like. The firm said it plans to display its logo on two signs on the sides of the new building – mimicking legacy banks like Barclays and Citigroup. Revolut British financial technology firm Revolut announced Thursday that it’s planning to move its
In the wake of a pair of explosive lawsuits claiming the wealthy real estate-heir Alexander brothers raped two women several years ago, about 30 more alleged victims have come forward with similar claims, according to the lawyer representing the plaintiffs. “I’ve spoken to approximately 15 people who say to me they were raped by the
Chris Wattie | Reuters The Federal Reserve announced Wednesday that it will leave interest rates unchanged. Fresh inflation data issued earlier in the day showed that consumer prices are gradually moderating though remain above the central bank’s target. The Fed’s benchmark fed funds rate has now stood within the range of 5.25% to 5.50% since
A new home is marked sold at a subdivision called Pintail Commons by Landsea Homes in Johnstown, Colorado on June 10, 2024. RJ Sangosti | MediaNews Group | Denver Post | Getty Images Mortgage rates dropped for much of last week, causing total mortgage application volume to surge nearly 16% compared with the previous week,
One of the real-estate-heir twins accused of two Manhattan rapes has stepped away from the company he co-founded — with the firm describing the claims to staffers Tuesday as “extremely disturbing.” The development came as the alleged victims’ lawyer told The Post that accused 36-year-old brothers Alon and Oren Alexander tried to negotiate a deal
Sturti | E+ | Getty Images It’s no secret that buying a home has gotten more expensive in the U.S. But the cost of keeping and maintaining a home has gotten significantly pricier, too, which might come as a surprise to some buyers. The “hidden costs” of homeownership add up to an average $18,118 annually, or
Experts are torn about where exactly the housing market is headed in the latter half of the year. “Mostly, we think the housing market is going to improve over the next half of the year,” Glenn Kelman, chief executive of Redfin, a real estate brokerage site, said on a May 22 appearance on CNBC’s “Money