Westend61 | Westend61 | Getty Images It’s unclear when the Federal Reserve could begin cutting interest rates, but many homeowners who took out a mortgage in recent years — as rates hovered between 6% and 7%, and even touched 8% — are paying attention for opportunities to refinance. Thanks to those high mortgage interest rates,
Month: April 2024
Miami nightlife guru David Grutman, of Groot Hospitality, and his spouse, fashion/jewelry designer Isabela Rangel Grutman, have listed their Zaha Hadid-designed condo for $7.2 million. The four-bedroom, five-bath condo is at One Thousand Museum Miami, once dubbed the “Scorpion Tower” — a 62-story, 707-foot-tall building that comes with its own helipad. The Grutmans have hosted
This aerial picture shows homes near the Chesapeake Bay in Centreville, Maryland, on March 4, 2024. Jim Watson | Afp | Getty Images Overall mortgage demand has now moved sideways for three straight weeks, but last week saw a split between those looking to buy a home and those hoping to save money with a
Pictured here is a real estate project under construction in Huai ‘an city, Jiangsu province, China, on April 8, 2024. Future Publishing | Future Publishing | Getty Images BEIJING — China needs to convince people that home prices are on their way up in order for economic activity to pick up, Richard Koo, chief economist
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT Comstock Images | Stockbyte | Getty Images It’s not unusual for new homeowners to face financial surprises, but people buying a newly built home may be more likely to encounter sticker shock on a key expense. Almost 75% of recent homebuyers had regrets about their
Past rows of steel- and carbon-frame bikes, behind a floor-to-ceiling curtain, to the left of the mechanic’s room, this Prospect Lefferts Gardens institution is freshly reopened. The second incarnation of Jermaine, Paul and Johann Burrowes’ restaurant, MangoSeed, started serving up Caribbean fare this February following intense community pressure, the brothers say. The brothers and professional
New Yorkers can breathe a sigh of relief after a surprising 4.8 magnitude earthquake jolted the city on Friday morning. While the tremors from New Jersey may have rattled a few nerves, experts assure that the Big Apple’s skyline remains standing strong. Jesse Richins, lead seismic engineer at the New York City engineering firm MRCE,
The walls of 1443 Devlin Drive in Los Angeles have echoed with the melodies of Christina Aguilera, witnessed the glamour of Liza Minnelli’s days, and hosted the illustrious career of Jack Haley Jr., along with journalist Steven Herman. Now, this iconic Hollywood abode, steeped in history, is up for grabs. Priced at a cool $8.4
In California’s real estate market, a slowdown in home construction is sending ripples of concern through the industry. With fewer homes being built, experts warn that the already sky-high housing prices could skyrocket further due to limited supply, exacerbating the state’s affordability crisis. Ken Kahan, the president of California Landmark Group, known for his luxury
In a celestial spectacle that will turn eyes towards the heavens, Monday’s solar eclipse has transformed Indianapolis into a bustling hub of anticipation. With the rare phenomenon set to cast its minutes-long shadow over the city in the path of totality, Indianapolis isn’t just preparing for a natural event — it’s shutting down entirely to
A California abode that’s remained frozen in architectural amber has found a new owner. This January, for the first time in its six-plus decades of existence, a perfectly preserved time capsule of a property in Palm Springs hit the public sales market, seeking $8.75 million. Now, less than three months after listing, the midcentury-modern gem
Alexander Spatari | Moment | Getty Images The Biden administration moved this week to limit how much rent can rise in certain affordable housing units across the country. While some housing experts criticized the move, tenant advocates said the new rule, which will cap rent increases at 10%, will help people to stay in their
High-rise buildings are illuminated at night in the West Coast New Area of Qingdao, East China’s Shandong province, on March 22, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — China’s real estate troubles are likely far from over and industry problems need to be addressed quickly if overall GDP growth is to pick up
A home is offered for sale on March 22, 2024 in Chicago, Illinois. Scott Olson | Getty Images Mortgage rates didn’t move much last week, and for the second week in a row, neither did mortgage demand. Potential buyers are handcuffed by exorbitant costs and low supply, and current homeowners have little to no incentive
A home on one of the only private streets in Manhattan has just hit the market. On the far west side of Manhattan, on a block that defies the street grid and most New York City real estate, several stately houses sit behind gates that show an address of 687 Greenwich St. This is Greenwich
The Spring housing market is defying expectations that prices would cool and competition would ease. Higher mortgage rates usually cool both prices and demand, as they did last year, but that’s not the case now. There are still too few homes for sale because current homeowners can’t afford to move, and it’s keeping prices high.
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT 10’000 Hours | Digitalvision | Getty Images Housing costs are outpacing median household incomes in the U.S., further straining affordability. Would-be homebuyers need to earn $113,520 a year to afford the typical house in the U.S. That is 35% more than what the typical household
A wealthy pair who spent years turning two Upper West Side townhouses into a mega-mansion — making enemies with their neighbors — have now listed the lavish home for $85 million. Paris-based businessman Pierre Bastid and his wife, jazz singer Malou Beauvoir, bought 48 and 50 W. 69th St., between Columbus Avenue and Central Park
The Downtown office market is in even worse shape than widely reported data indicate, according to several major dealmakers. One of them, an industry legend not given to doom-and-gloom scenarios, told us that huge amounts of space are quietly up for sublease even at the World Trade Center and Brookfield Place – Lower Manhattan’s best-performing