An aerial view shows a subdivision that has replaced the once rural landscape in Hawthorn Woods, Illinois. Scott Olson | Getty Images Mortgage interest rates dropped last week to the lowest level since May 2023, causing a surge in mortgage demand from both homebuyers and especially current homeowners. Total mortgage application volume rose 6.9% last
The secret to a long, healthy life is just 65 miles southwest of Manhattan. Rural Hunterdon County in western New Jersey has been named the fourth-best community in the nation for health outcomes, a metric that takes into account the number of adults in poor health and life expectancy. The rolling countryside that served as the
While some older buildings atrophy, others thrive. Two new deals totaling 104,000 square feet have brought George Comfort & Sons’ 960,000 square-foot 498 Seventh Ave. to 95% occupied. Public technology firm PubMatic, Inc., signed a 60,000 square-foot direct lease. The company, which was a subtenant will roughly double its space in the first quarter of 2025.
Not many years ago — before the miserable mayoral reign of Bill de Blasio and the troubled one of Eric Adams — the Big Apple truly was “The City of Yes.” The wildly optimistic slogan Adams recently chose for his worthy but slow-moving struggle to generate new housing development belies how puny his vision is — compared with
Record inflation may have people questioning whether homeownership is still a good investment. Home prices have been rising faster than incomes, which can be a problem for homeowners because as the value of a home rises, so does the cost to maintain it. More than 1 in 4 homeowners with mortgages are considered “cost-burdened,” meaning
A for sale sign in front of a home in Arlington, Virginia, on August 22, 2023. Andrew Caballero-Reynolds | AFP | Getty Images The average rate on the popular 30-year fixed mortgage dropped 22 basis points to 6.4% Friday, according to Mortgage News Daily. That is the lowest rate since April 2023. The 15-year fixed
Kanye West has finally found a buyer for his gutted Malibu mansion, but not without leaving a trail of controversy and lawsuits in his wake. The property, which the rapper bought for a whopping $57 million in 2021, is now in escrow, according to TMZ. The mansion, known for its stunning Pacific Ocean views, was
A row of traditional houses on a street in London’s Muswell Hill suburb, located to the north of London, with views of the Canary Wharf on the horizon. Georgeclerk | Istock | Getty Images LONDON — Britain’s major high street lenders have begun slashing their mortgage rates in a sign that financial pressure on households
The housing market has been decidedly stuck of late. Sellers with low mortgage rates are holding on to their homes, leaving buyers with scant listings to choose from. And buyers who do find a house face substantial economic challenges as median home prices and mortgage rates remain high. With sellers and buyers at an impasse, misconceptions and outright
Vice President and 2024 Democratic presidential candidate Kamala Harris speaks at a campaign event in Atlanta, Georgia, on July 30, 2024. Elijah Nouvelage | Afp | Getty Images “Building up the middle class will be a defining goal of my presidency,” Vice President Kamala Harris said at a political event in Atlanta on Tuesday evening. “When our middle
The Federal Reserve announced Wednesday that it will leave interest rates unchanged. However, recent signs of economic growth and cooling inflation are paving the way for a widely anticipated September rate cut, which is welcome news for Americans struggling to keep up with sky-high interest charges. “Consumers should feel pretty good about the U.S. economy,”
A majority of current renters in the US say they can’t afford to buy a home, with over half of Americans saying that they are pessimistic about ever achieving their goal of homeownership, per a new CNN poll. CNN’s study found that 86% of current renters in the United States can’t afford to buy a home
Sdi Productions | E+ | Getty Images Home affordability has slightly improved for buyers this summer, according to a recent report. The median new mortgage payment was $2,167 in June, a 2.4% decline from $2,219 in May, according to new data from the Mortgage Bankers Association. The index measures how new monthly mortgage payments change
Prominent Big Apple developer Michael Shvo was slapped with a lawsuit by a disgruntled couple who plunked down $6.1 million for a pad at the Mandarin Oriental Fifth Avenue, claiming the luxury building is riddled with problems — including an “algae-infested” rooftop pool. John Goodman and his wife, Diane Johnson, alleged that the building developed
Valentinrussanov | E+ | Getty Images The Federal Reserve is poised to make the first interest rate cut in years this fall, which can influence mortgage rates to go down. Even small cuts in interest rates could make a meaningful difference in what a homebuyer will pay. To that point, people in the market to
A view of flooded streets after 24 hours of continuous heavy rain over Fort Myers, Florida, United States on June 13, 2024. Anadolu | Anadolu | Getty Images Consumers preparing to renew their homeowners insurance policy may experience some unexpected sticker shock. Between May 2022 and May 2023, home insurance prices rose an average of
Whole Foods signed a lease for a new store in the East Village in a space that has been empty since before the pandemic, Realty Check has learned. The Amazon-owned market will open at 409 E. 14th St., which went dark after an Associated supermarket closed in December 2019, as the company rolls out a
The Jersey Shore house known for serenading beachgoers with the sweet sounds of Frank Sinatra music has finally been sold. Located on the boardwalk of Point Pleasant Beach, the not-so-humble 8 bedroom 4,000-square-foot abode was built in 1987 for the late Sony Music exec and Ol’ Blue Eyes fan Paul R. Smith, who would play Sinatra
A development towers over the Lyric Theater in Miami’s Overtown neighborhood. Greg Iacurci MIAMI — Nicole Crooks stood in the plaza of the historic Lyric Theater, a royal blue hat shielding her from the midday sun that baked Miami. In its heyday, the theater, in the city’s Overtown neighborhood, was an important cultural hub for
A view of the Central Park Tower at 217 West 57th St. in New York City. Source: Cody Boone, SERHANT Studios A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Even as home prices hit new highs, experts say there are signs that the housing market is becoming better for buyers in some locations. The median cost of an existing, single-family home in the U.S. was $426,900 in June, a new all-time high, according to the National Association of Realtors. About 3.89 million homes were
U.S. Vice President Kamala Harris delivers remarks during a campaign event at West Allis Central High School in West Allis, Wisconsin, on July 23, 2024. Kevin Mohatt | Reuters “Building up the middle class will be a defining goal of my presidency,” Vice President Kamala Harris said at a political event in West Allis, Wisconsin, on Tuesday
This former fortress has a new lease on life as 26 luxury flats, all of which are now seeking buyers. In the English countryside between Sheffield and Birmingham, the meticulously renovated Riber Castle is ready for its market debut as an apartment complex that’s fit for a king. Built in 1862 as the private residence
Monthly rent in Shanghai’s city-center costs approximately $2,700, according to data by Numbeo. Zorazhuang | E+ | Getty Images Living in a major city can come with a hefty price tag, so it’s best to be informed before you make that big move. In Asia, Hong Kong and Singapore top the list for cost of
US Vice President Kamala Harris speaks on the South Lawn of the White House in Washington, DC, US, on Monday, July 22, 2024. Ting Shen | Bloomberg | Getty Images As she is poised to be the Democratic nominee for president, it remains to be seen how much Vice President Kamala Harris’ policies will mirror
You’ve heard of Miami’s “Billionaire Bunker” and Star Island, playgrounds for the ultra-rich like Jeff Bezos and Ken Griffin. But what about Fort Lauderdale? Once notorious for its rowdy spring break scene, “Fort Liquordale” is now a haven for millionaires being priced out of Miami and Palm Beach — by billionaires. Fort Lauderdale is seeing
Rana Robillard, an Oakland-based tech executive, in front of the home in Orinda, CA that she attempted to purchase earlier this year. Courtesy: Rana Robillard After a yearlong search, Rana Robillard was elated to learn she’d beaten three other bidders for a house in the leafy California suburb of Orinda, just outside of San Francisco. So
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 Mortgage interest rates eased very slightly last week, but not enough to get today’s potential homebuyers off the fence. The average contract interest rate for 30-year fixed-rate mortgages with
Tech entrepreneur Jody Glidden, who is dating Lisa Hochstein of “The Real Housewives of Miami” fame, sold his Miami Beach mansion for $11.85 million on July 18, Gimme Shelter has learned. Glidden is currently CEO of Postilize, an AI firm. The home, at 250 S Hibiscus Drive, first went on the market for $13.95 million last
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