Artificial intelligence is moving into the housing space, specifically architecture. ICON, which developed one of the first fully 3D-printed housing developments in the U.S., is taking automation another step further. It recently unveiled what it calls Vitruvius, an AI program that helps consumers design custom homes online and get the plans, making the process cheaper
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The Federal Reserve announced Wednesday it will leave interest rates unchanged, delaying the possibility of rate cuts as well as any relief from sky-high borrowing costs. Overall, expectations that the Fed is pulling off a soft landing have increased, but that offers little consolation for Americans with high-interest debt. And now there may be fewer interest rate
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Hinterhaus Productions | Digitalvision | Getty Images Inflation in the U.S. has hit a speed bump. While the rate of price increases has come down significantly from its peak in the summer of 2022, the most recent reading from the consumer price index showed overall inflation stuck at just above 3%. Core inflation — which
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Townhomes are under construction on July 19, 2023 in Mundelein, Illinois.  Scott Olson | Getty Images Mortgage interest rates rose last week for the first time in three weeks. As a result, total mortgage application volume dropped 1.6% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract
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Chris Wattie | Reuters Economists expect the Federal Reserve to leave interest rates unchanged at the end of its two-day meeting this week, even though many experts anticipate the central bank is preparing to start cutting rates in the months ahead. In prepared remarks earlier this month, Federal Reserve Chair Jerome Powell said policymakers don’t want to ease
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Realtors in the Big Apple’s cut-throat housing market are citing the controversy over congestion pricing in their pitch to sell and rent apartments in Manhattan outside zones where the toll will be imposed. Glenn Barnett of Nest Seekers sends out listings with the heading “Avoid Congestion Pricing.” “I do get a better response. People are
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Facebook CEO Mark Zuckerberg may have made a hushed exit in the upscale neighborhood of Woodside, California. Reports from the Real Deal suggest that an entity linked to Zuckerberg has swiftly offloaded a “European-inspired estate,” raising eyebrows regarding the tech titan’s clandestine property movements. This would mark the second California property that the social-media mogul
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A house on the beach in Nantucket, Massachusetts, was purchased for a stunningly low price in a recent real estate transaction, the Nantucket Current reported. The sale price for the beachfront property, located in the Madaket area, was $600,000, according to the outlet. The transaction went through February. The Nantucket Current, citing the house’s listing broker, Susan
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There’s nothing interesting about interest rates these days — and a recent TikTok video specifically lays out why that is. A couple named Sarah and Teddy purchased a home in Brooklyn back in 2021. Their timing was right, the clip continues, because they’re now grappling with the sobering realization that their once-affordable abode would cost
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In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Skynesher | E+ | Getty Images Factors beyond high mortgage rates are affecting housing affordability for many Americans, according to experts. Almost four years ago, a household earning $59,000 annually could afford a new mortgage without spending more than 30% of their monthly income and
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