Handmade signs litter the ground after an anti-eviction protest outside a Mount Rainier, Maryland, apartment complex on Aug. 10, 2020. Leah Millis | Reuters Even with the latest coronavirus relief bill, the economic stresses from the pandemic will continue to mount. An assortment of federal, state, and local foreclosure, eviction, and debt collection moratoria have
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Firefighters ride a boat beneath an underpass while conducting search and rescue after heavy rain resulted in flash floods in Washington, DC, U.S. September 10, 2020, in this still image taken from video provided on social media. @DCFIREEMS | via Reuters Intensifying rainfall fueled by climate change has caused nearly $75 billion in flood damage
Demonstrators march for housing justice in the Old Town neighborhood in Chicago, IL on June 30, 2020, demanding a lift on the Illinois rent control ban and a cancellation of rent and mortgage payments during the COVID-19 pandemic. Max Herman | NurPhoto | Getty Images More borrowers are getting current on their mortgages again, after
Homebuilding stocks could be losing steam. Though the group outperformed in 2020, with the SPDR S&P Homebuilders ETF (XHB) and the iShares U.S. Home Construction ETF (ITB) both beating the S&P 500 by about 10 percentage points, pure-play homebuilding stocks are faltering, JC O’Hara, chief market technician at MKM Partners, told CNBC’s “Trading Nation” on
A sign is posted in front of new homes for sale at Hamilton Cottages on September 24, 2020 in Novato, California. Justin Sullivan | Getty Images After a strong surge in home sales over the past six months, suddenly consumers are concerned about the health of the housing market. Buyers and sellers felt significantly less
In the stimulus package signed into law last month, the national ban on evictions was extended through January and a $25 billion pot of money was established for renters struggling amid the health and economic crisis. That money will help to keep many of the 14 million Americans who are behind on their rent in
Jon Ossoff and David Perdue, candidates for Senate from Georgia. Reuters; Getty Images If Democrats achieve a majority in the Senate, a number of relief measures targeted at renters struggling amid the pandemic – including a right to counsel for those facing eviction and a larger pot of money for back rent – will have
It is a shameful irony that at a time when staying home has been so essential to protecting our health and our communities, an alarming number of families are in danger of eviction. Housing is much more than a place to live. It is a foundation for success in life. We know that children do
An ‘Open House’ sign is displayed in the front yard of a home for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images The stunning surge in home buying, brought on by the coronavirus pandemic, may finally be easing up. Mortgage rates are hovering near record lows, but buyers are experiencing sticker shock
Mall of America in Bloomington, Minnesota. Ariana Lindquist | Bloomberg | Getty Images The Mall of America has modified the terms of its $1.4 billion mortgage and is current on the loan, after missing months of payments during the Covid crisis as stores shut temporarily and tenants failed to pay rent. Triple Five Group, the
Snowflake CEO Frank Slootman told CNBC on Tuesday he believes the coronavirus pandemic has fundamentally altered the role that physical offices will play for corporations going forward. “This whole notion that the office is your workday home, we realize that is nonsense,” Slootman said on “Squawk Alley.” “Offices … need to be there for specific
Homes in Memphis, Tennessee. Getty Images Home prices are rising across the nation, but the Covid pandemic is turning the usual geographical trends on their heads. Home values have historically risen most sharply in large cities on the coasts, where supply is leaner and demand is stronger. That is no longer the case. Smaller metropolitan
Customers viewing electric vehicles at a Xpeng Motors store on Oct. 6, 2020 in Beijing, China. Visual China Group | Getty Images BEIJING — Chinese electric carmakers are splashing out on prime retail space and taking up storefronts at shopping malls — a new trend that offers relief for China’s commercial property developers who are
Republican Sens. Kelly Loeffler and David Perdue, facing tight runoff elections Tuesday in Georgia, have received a late surge of donations from the real estate and financial industries. Their Democratic challengers, Raphael Warnock and Jon Ossoff, respectively, have otherwise enjoyed a fundraising edge in the races, which will determine whether Democrats or the GOP will
People walk through the Brookfield Place Pavilion at the World Trade Center West Concourse pedestrian transit connection in New York City. Getty Images Brookfield Asset Management said Monday it has made an offer to take its commercial real estate arm Brookfield Property Partners private in a $5.9 billion deal. The Canadian asset-management firm is offering
Handmade signs litter the ground after an anti-eviction protest outside a Mount Rainier, Maryland, apartment complex on Aug. 10, 2020. Leah Millis | Reuters Second stimulus checks are in the works for millions of Americans. Now, Congress and President Donald Trump must agree: Should those payments be $600 per person or $2,000 per person? The
The TransAmercia building at the end of an empty Columbus Street in San Francisco, California, U.S., on Monday, Dec. 7, 2020. David Paul Morris | Bloomberg | Getty Images If you believe what you read, San Francisco is dying. Over the last few months, there has been a steady stream of investors, executives and companies
A real estate agent readies a house for viewing in Venice, Calif. Anne Cusack | Los Angeles Times | Getty Images What was expected to be a mundane year in the mortgage market was anything but: A sharp downturn in demand for housing at the start of the pandemic took a hairpin turn and just
A ‘Open House’ sign stands outside a new home for sale in the D.R. Horton Cambridge at Southbury development in Oswego, Illinois. Daniel Acker | Bloomberg | Getty Images Sales of newly built homes came in far weaker than expected for November, and builder stocks are not taking it well. Shares of the biggest names,
MIAMI — Move over, Texas. The Lone Star state has grabbed headlines as tech companies like Oracle, Hewlett-Packard Enterprise and billionaire Elon Musk are planning to move major operations from California for its greener pastures and — lower taxes. But now, Miami is becoming a magnet for companies trying to escape from high taxes and
A house for sale on December 17, 2020 in Scituate, Massachusetts. Matt Stone | MediaNews Group | Getty Images After five consecutive months of gains, closed sales of existing homes turned lower in November. They fell 2.5% on a month-to-month basis to a seasonally adjusted annualized rate of 6.69 million units, according to the National
No-Mad | iStock | Getty Images A bipartisan coronavirus aid deal that lawmakers struck on Sunday will extend the national eviction moratorium through January and establish a rental assistance fund of $25 billion. The relief comes as the Centers for Disease Control and Prevention’s eviction moratorium was set to expire at the end of the
The $900 billion economic relief plan in Congress carves out a slice for renters and landlords, but some economists and industry experts claim it is not even close to enough. The eviction crisis still looms large, as renters owe billions in back rent, and landlords are struggling to make their own payments on the homes
In this Friday, Sept. 21, 2012, photo,a home is for sale in Oklahoma City. Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve’s stimulus efforts may be having an impact on mortgage rates. Mortgage buyer Freddie Mac said Thursday, Sept. 27, 2012, the rate on the
Home for sale sign in Boulder, Colorado. Helen H. Richardson | Denver Post | Getty Images It is a lot harder to find an inexpensive home to buy and flip in today’s ultra-competitive housing market, but those who can will make a hefty profit. While home flipping activity overall dropped in the third quarter of
Although a second stimulus plan is still up in the air, the Federal Reserve is determined to push consumer borrowing costs even lower as the economic recovery takes hold — giving everyday Americans a reason to be optimistic. In addition to holding interest rates near zero, Fed Chairman Jerome Powell said Wednesday the central bank will continue
The app of Danke Apartment is displayed on the screen of a mobile phone on November 18, 2020 in Yichang, Hubei Province of China. (Photo by/VCG via Getty Images) Liu Junfeng | VCG | Getty Images GUANGZHOU, China — A more than 76% share price collapse for its parent company since its initial public offering
A house under construction is seen in Culver City, a neighborhood of Los Angeles on November 21, 2020. Chris Delmas | AFP | Getty Images After three straight months of record highs, homebuilder confidence in the single-family housing market pulled back in December. Builders say they are concerned that buyers are starting to experience sticker
A view of East London from an aerial view. As the sun sets its glow is captured on the skyscrapers of Canary Wharf – the second business district of London. Ray Wise | Moment | Getty Images Opportunity abounds for investors looking to seize on distressed real estate assets in the wake of the coronavirus
Getty Images Can’t save a lot? Don’t worry — as little as $100 in savings can be a huge help. Families with more than $100 in savings are better able to avoid high-cost borrowing such as predatory lending and payday loans, and keep utilities on, and they are more financially satisfied than those with less
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