Bond traders are at it again, pushing Treasury yields higher and signaling the Federal Reserve was too heavy-handed when it cut interest rates by a half-percentage point last month. The recently rising yields have put pressure on the stock market — and specifically, names in our portfolio tied to housing. The 10-year Treasury yield —
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Sales of previously owned homes fell 1% in September compared with August, to a seasonally adjusted, annualized rate of 3.84 million units, the slowest pace since October 2010, according to the National Association of Realtors. Sales were 3.5% lower than in September 2023. Sales fell in three out of four U.S. regions, with just the
Actor Bill Murray’s former New York estate, which once contained the famous firepole from “Ghostbusters,” is back on the market for $3.69 million. The property, at 19 and 28 Ludlow Lane, is in the secret celebrity enclave of Snedens Landing, 11 miles north of the George Washington Bridge, in the Rockland County hamlet of Palisades.
Matt Champlin | Moment | Getty Images When a real estate agent works with a prospective homebuyer, they’re required to point out physical or material defects in the property. A death on the property? It depends on the state where the house is located. In most states, death doesn’t count as a material defect requiring
Welcome back, Vessel! At long last, the iconic vertical sculpture and sightseeing platform at Hudson Yards will become a hive of activity again on Monday, reopening to the public after more than three years. The gently tweaked, 16-story architectural folly is now safe for everyone and was worth the wait. Hudson Yards developer Related Companies closed
The double-townhouse residence of the late jet-setting couple Mica and Ahmet Ertegun has sold for $9.3 million, Gimme Shelter has learned. The proceeds of the sale, at 121-125 E. 81st., went to their charity, said brokers involved in the deal. The home was asking $12.9 million. Mica, a noted interior designer who fled Romania after the
Fashion Nova’s billionaire founder Richard Saghian has splashed out $30 million for a prime piece of Miami Beach property — two of them, in fact. The retail mogul scored two properties in a swift, all-cash deal: a luxe waterfront mansion and a house across the street, both located on exclusive North Bay Road, according to
A commercial building available for rent in Melville, New York, April 17, 2023. Howard Schnapp | Newsday | Getty Images The tide could be turning for commercial real estate. The Federal Reserve began its interest rate cutting cycle in September, lowering the Fed funds rate for the first time since 2020 by 50 basis points,
New Yorkers may soon be seeing more of Italian basketball player Danilo Gallinari. The veteran forward has just signed a contract for a two-bedroom, two-bathroom home at One Williamsburg Wharf in Brooklyn, Gimme Shelter has learned. The news comes amid buzz that the New York Knicks may sign Gallinari to a contract for training camp
As mortgage rates stagnate around 6%, prospective homebuyers are feeling nostalgic for the 3% interest rates of 2020 and 2021. Google search results for the term “assumable mortgage” spiked in May, following a steady upward trend starting in 2022. Mortgage assumptions allow buyers to take over an existing mortgage at its current rate, possibly securing
Morsa Images | Getty Buying a home is often the biggest financial decision you’ll ever make. It’s not just about choosing a place to live; it’s about making a long-term investment that will impact your financial future for years to come. Therefore, if you are looking to buy a home, there are certain steps you should
A pedestrian crosses a road in front of residential buildings in Beijing, China. Qilai Shen | Bloomberg | Getty Images China vowed more financial support for real estate projects that fall under its so-called whitelist and to speed up banks lending of 4 trillion yuan ($561.8 billion) for such projects, according to the nation’s housing
Beggars can’t be choosers — unless it’s your wedding day. Many newlyweds are opting out of traditional cash-fund gifts and adding the option of helping to pay for a home purchase instead. Wedding resource websites like The Knot and Zillow Home Loans found that 55% more couples are adding a “home fund” to their wedding
Hong Kong Chief Executive John Lee Ka-chiu delivers his annual policy address at the Legislative Council on Oct. 16, 2024 in Hong Kong. China News Service | China News Service | Getty Images Hong Kong chief executive John Lee announced moves aimed at addressing the city’s housing affordability crisis, calling it “an issue of great
A sign is posted in front of a home for sale on August 07, 2024 in San Rafael, California. Justin Sullivan | Getty Images Mortgage interest rates rose last week for the third straight week, hitting the highest level since August. That caused demand from both current homeowners and potential homebuyers to take a big
Anton Wormann, 32, moved to Japan in October 2018. Courtesy of Anton Wormann Anton Wormann, 32, has always had a passion for DIY projects and creating beautiful spaces. So, after he discovered that his neighbor’s property had been abandoned, he decided to purchase it and bring it back to life. Upon inspection, Wormann discovered that
Lisa Vanderpump is going all in on Las Vegas. The reality star and restaurateur has dropped a cool $5 million on a swanky new home in Sin City, sources tell TMZ. The British-born mogul, famous for her hospitality empire, decided to make Las Vegas her second home after wrapping filming for Season 2 of “Vanderpump
Hidden inside a 46-story luxury condominium building in Miami is a massive garage where dozens of busy robots whisk cars to and from parking spots. The futuristic 24/7 operation unfolds across a 13-level garage and employs five car lifts, dozens of lasers and hundreds of bar codes embedded in the floors. Residents who pull into one
America’s office market is teetering on the edge of a massive shake-up as rising debt and the permanent shift to remote work leave countless office buildings across the country vacant and struggling. In response, experts predict a wave of fire sales and conversions that will turn these once-bustling office towers into much-needed residential housing. With
It might be too early to pop the Champagne corks, but Manhattan’s big-picture retail leasing scene shows strong signs of putting the pandemic carnage behind it. Even before anyone heard of COVID-19, online shopping depressed demand for brick-and-mortar stores by perhaps 10%. Lockdowns made things worse. Readers of this column know we’ve been skeptical about
Prices in Manalapan, Fla. — between Palm Beach and Delray Beach — keep rising. And now, an ocean-to-Intracoastal Waterway compound is hitting the market on Friday for $79 million, just two months after the area’s first $95 million listing. The home, at 1040 S Ocean, is owned by LA manufacturing mogul/developer Jim Randall and his
Alexander Nicolas’s salad days were slathered in a Thousand Island blessing: St. Mary’s Island. Forty years ago, his parents spotted a small fishing cabin on a speck of an island peeking out of the St. Lawrence River in Alexandria Bay, part of the zesty Thousand Islands region in northern New York, and located right on
Mobile homes surrounded by flood water after Hurricane Milton made landfall, in St. Petersburg, Florida, U.S. October 10, 2024. Octavio Jones | Reuters If your home is temporarily uninhabitable after a natural disaster, a provision in your homeowners or renters insurance policy may help you with new lodging and other living expenses. Insured wind and
Visoot Uthairam | Moment | Getty Images Home repairs and renovations are expensive. To lower costs, 1 in 3 homeowners are willing to hire a contractor with holes in their resume. About 33% of surveyed homeowners say they’d consider hiring a contractor with a questionable reputation to save money, according to a new report by
A homeowner in Michigan just barely avoided catastrophe after his oven caught on fire in the middle of the night. The culprit behind the blaze? According to the fire department, it was the family cat. The Almira Township’s fire department says it got a call at 2:30 a.m. on Oct. 1 about a residential fire
A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. Patrick T. Fallon | AFP | Getty Images An abrupt turn higher for mortgage interest rates caused weekly demand from both potential homebuyers and current homeowners to drop. Total mortgage application volume fell 5.1% last
David Hester inspects damages of his house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. Chandan Khanna | Afp | Getty Images It’s crucial to understand how to file a homeowners insurance claim after a natural disaster. Insured losses alone for Hurricane Helene are now estimated at more than $6
The notorious Beverly Hills mansion where the Menendez brothers brutally murdered their parents has new owners, and the sale has only stoked the flames of public fascination surrounding the infamous case. Seven months after the home was sold for a staggering $17 million, the new owners have been revealed as the wealthy Lahijani family, a
An enormous 886-acre ranch in the heart of Texas Hill Country has hit the market with an eye-popping $42.5 million price tag, offering an unparalleled mix of luxury, history — and even wildlife. Known as 3 Creeks Ranch, this vast estate in Fredericksburg’s picturesque wine region is the latest big-ticket property to capture attention. Owned
The office leasing breakthrough that Downtown has been waiting for could happen by year’s end. Global trading firm Jane Street is looking to grow at Brookfield Place, we’ve learned. The electronically-driven market mover, which has about 500,000 square feet at 250 Vesey St., is in talks with landlord Brookfield for more space at 300 Vesey
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