First-time homebuyers in America are hitting an unprecedented milestone, and it’s not one they’ll be celebrating. According to the latest data from the National Association of Realtors (NAR), the median age for first-time buyers has surged to 38 — the oldest on record and up three years from just last summer. Gone are the days
Exceptionally strong housing demand in the U.S. has large homebuilders in the driver’s seat and smaller builders ripe for takeover. The buyers are both domestic and Japanese. M&A activity in the single-family homebuilder space is having a record year in terms of dollar volume, and close to a record in the number of deals, according
Residential homes in Discovery Bay, California, US, on Thursday, Nov. 7, 2024. Mortgage rates in the US increased to the highest level since July. David Paul Morris | Bloomberg | Getty Images Mortgage rates continued to climb last week as investors considered the future of the economy under a Trump presidency. The mortgage market basically
Americans spend billions of dollars each year on Amazon purchases for their homes, but a new wave of shoppers are now turning to the online retail giant for the homes themselves—little houses that start at just $10,000 each. With the median house price in the U.S. now at $424,950, many people feel that the American dream of owning
Scott Olson | Getty Images News | Getty Images President-elect Donald Trump wants to address housing affordability in the U.S. by fomenting the construction of new homes. “We’re going to open up tracks of federal land for housing construction,” Trump said during an Aug. 15 news conference. “We desperately need housing for people who can’t
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. The S & P 500 edged higher Monday, extending Friday’s postelection all-time highs. The tech-heavy Nasdaq was basically flat. Club chip names Advanced Micro Devices , Broadcom , and
No kidding: Homebuyers with kids are becoming less and less common. In fact, only 27% of recent buyers had a child under age 18 living with them, which was an all-time low, according to the National Association of Realtors® 2024 Profile of Home Buyers and Sellers. That share is down from 30% last year and 58% in 1985. “With rising
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market rotation: The Dow was the big winner Monday, tracking for its first close above 44,000. However, the pressure on the S & P 500 and
Parade attendees wave Puerto Rican flags on Fifth Avenue in Manhattan during the annual Puerto Rico Day Parade. Luiz C. Ribeiro | New York Daily News | Tribune News Service | Getty Images Young adults in Puerto Rico are on shaky financial ground, a study finds. About 47% of respondents in the U.S. territory are
In this article DIS HD HON WFC MS Follow your favorite stocksCREATE FREE ACCOUNT President Donald Trump looks on as his nominee for the chairman of the Federal Reserve Jerome Powell takes to the podium during a press event in the Rose Garden at the White House, November 2, 2017 in Washington, DC. Drew Angerer
The city’s largest commercial landlords enjoyed big boosts from Bloomberg LP’s sustained and growing stake on Midtown’s East Side. The media giant’s 924,876 square-foot renewal and expansion at 919 Third Ave., which we reported first, came as a welcome surprise to landlord SL Green. Bloomberg LP will lease nearly 1 million square feet at SL
Republican presidential candidate and former U.S. President Donald Trump visits the U.S.-Mexico border at Eagle Pass, Texas, as seen from Piedras Negras, Mexico, February 29, 2024. Go Nakamura | Reuters President-Elect Donald J. Trump won the White House based partly on his promises to rein in immigration, with targeted policies that range from sending criminals
Casa Encantada, touted as the most expensive residence in Los Angeles and in California overall, just received a significant price cut — dropping from an eye-watering $195 million to $165 million, according to a release from the listing brokerage. News of the discount was first reported by Mansion Global. But don’t call it a bargain
Just two years after Brooke Shields unloaded her longtime Los Angeles estate for $7.4 million, the residence is back up for grabs for $8.65 million, The Post has learned. The actress and model purchased the property in 1997 for $3.24 million with her then-husband, tennis great Andre Agassi. In 2022, Shields sold the 5,300-plus-square-foot residence
Wall street analysts feel good about one of our retail stocks but apprehensive about another. The news on Home Depot Telsey Advisory Group, a leader in retail industry analysis, upgraded Home Depot stock to a buy-equivalent outperform on Friday. The research firm also increased its 12-month price target to $455 per share from $360, implying
America’s housing market has been tepid at best lately, thanks to mortgage rates edging closer to 7% for the past weeks and already-high median prices remaining flat nationwide. However, prices in America’s top 20 hottest housing markets were up in October — by 2.9% on average compared to last year. (The median-priced home was $424,950 in October.) The uptick in home
The Federal Reserve Building in Washington, D.C. Joshua Roberts | Reuters The Federal Reserve announced it will lower its benchmark rate bya quarter point, or 25 basis points, days after President-elect Donald Trump won the 2024 election. Economic uncertainty was a prevailing mood heading into Election Day after a prolonged period of high inflation left many
An “Open House” flag is seen in front of a home for sale in Alhambra, California, on Jan. 18, 2024. Frederic J. Brown | AFP | Getty Images Mortgage rates rose again last week, pulling demand from both the refinance and purchase markets. Total mortgage application volume dropped 10.8% compared to the previous week, according
It’s a fashionable buy — and a purchase so large, it’s making waves across the pond. Bloomberg reports that the American billionaire fashion designer Tom Ford has shelled out $104 million for a mansion in London, marking the most expensive deal for a home in the United Kingdom this year. Not much is known about
In this article PHM DHI LEN Follow your favorite stocksCREATE FREE ACCOUNT Homes in the south suburban Chicago area on April 26, 2023. Brian Cassella | Tribune News Service | Getty Images President-elect Donald Trump’s victory spurred a rise in in the U.S. 10-year Treasury yield. Mortgage rates, which loosely follow the benchmark yield, are
Period red-brick home rooftops in a suburb overlooking London’s financial district. Oversnap | E+ | Getty Images LONDON — Britons are facing the prospect of higher mortgage rates for longer after the government’s tax-and-spend budget threw off expectations for a series of near-term interest rate cuts. The Bank of England is widely expected to cut
On the Upper East Side, a $50 million penthouse atop the newly revamped Surrey hotel is set to make its debut. The 5,200-square-foot duplex listing is the priciest residence in the Surrey, a nearly century-old building with a history as storied as its architecture, according to the Wall Street Journal. This coveted address on East
Courtneyk | E+ | Getty Images First-time homebuyers in the U.S. are getting older. The median first-time homebuyer has reached an all-time high of 38 years old — three years older than in July 2023, according to the National Association of Realtors’ 2024 Profile of Home Buyers and Sellers report. This summer, NAR polled 5,390 buyers
This 31.8-acre Connecticut estate comes with a grand A-list history — and now it’s in the hands of some new owners. Golden Globe-winning actor Richard Gere has just sold the New Canaan property he purchased two years ago from multi-Grammy-winning singer and songwriter Paul Simon, reports the New Canaan Advertiser. The deal appears to have
An aerial view of existing homes near new homes under construction (UPPER R) in the Chatsworth neighborhood on September 08, 2023 in Los Angeles, California. Mario Tama | Getty Images U.S. homeowners are sitting on a record amount of equity, but higher interest rates over the past two years have made them reluctant to tap
The biggest relocation lease of October was private equity powerhouse TPG’s move to eight high floors in Tishman Speyer’s Spiral, aka 66 Hudson Boulevard. Its 301,276 square feet was runner-up in size only to Bloomberg’s 749,000 square feet at 919 Third Ave. that was mostly expansion space at the same location. TPG will move from 888
milan2099 | E+ | Getty Images When it comes to retirement, we all want to have the most income possible. But exactly how to achieve that goal is confounding question for most people. In her new book, “How to Retire: 20 Lessons for a Happy, Successful and Wealthy Retirement,” Christine Benz, director of personal finance
A three-bedroom condo in Dayton, OH, that beckons buyers to flex their “HGTV designer muscle,” despite looking more like a property from an episode of A&E’s “Hoarders,” is the week’s most popular home on Realtor.com®. If you can see past the horrifying piles of personal belongings, baskets of laundry, and stained carpeting, the listing notes
Miami’s tony Star Island, a private enclave that’s long attracted A-listers, has a hot new and currently the only listing: the former waterfront estate of Rosie O’Donnell, now on the market for a jaw-dropping $54 million. O’Donnell, who snapped up the property in 1999 for just $6.75 million, later sold it in 2003 to Dr.
The new owner of the home where Matthew Perry died will not remove a “Batman” logo the actor installed in the pool. The Pacific Palisades house sold almost exactly one year after Perry died at the property on Oct. 28, 2023, fetching $8.5 million in an off-market deal, according to the New York Times. In an
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