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The last gasp of the Biden/Harris reign of (economic) error.. After existing home sales unexpectedly ticked up in October, analysts expected new home sales to slow after their recent resurgence (-1.8% MoM). They were right… BUT… the magnitude is mind-boggling.. New Home Sales collapsed 17.3% MoM in October. That is the largest MoM drop since July 2013. ... That MoM plunge dragged sales down 9.4% YoY to 610k SAAR – the lowest since Nov 2022 ... Of course, all the revisions are lower …. median sale price of a new home increased to $437,300 in October, the highest in 14...

Homebuilder confidence surged in November as the election of Donald Trump and a Republican sweep of the House and Senate boosted optimism about the housing market. The National Association of Home Builders (NAHB) said its monthly confidence index rose to 46, the highest level since April. This was higher than even the most bullish forecasts and three points above the October level. The sentiment boost reflects builders’ beliefs that the incoming administration and its Republican allies on Capitol Hill will adopt policies to facilitate increased construction activity. “With the elections now in the rearview mirror, builders are expressing increasing confidence...

Many people dream of moving abroad, whether it's to experience a different culture, a desire for a slower life, or as am escape from the ever changing political climate. But one road block you'll consistently hit, no matter your nationality, revolves around your visa status. Even if you have a work visa, being able to put down permanent roots in a country where you don't have citizenship is not at all stress-free. There are some loopholes, however, specifically around international real estate that make the moving (and remaining) process so much easier.

Americans are becoming all too familiar with the phrase “house rich, cash poor,” as a growing number of middle-class adults report spending more than 30% of their income on housing costs. With rising home prices, stagnating wages, and relatively high mortgage rates, that once-reliable housing benchmark is becoming harder to maintain.

Back in the spring, ResiClub reported that in response to the growing strain on housing affordability, Home Depot is selling tiny homes. It turns out Amazon is doing the same, continuing to expand its offerings of tiny homes and Accessory Dwelling Units (ADUs) on its e-commerce website. Among the Amazon offerings is this 40-foot luxury portable shipping container home. Dubbed the 'Modern Prefab Modular House with Glass Walls,' it’s priced at $28,865. The description highlights its two-story design with “fast and easy setup and a customizable layout, making it ideal for tiny homes, guest houses, or modern offices."

Buying a home with friends sounds like a dream. Until you try to get out. Celeste King invested $100,000 to buy and renovate a lake house with two friends near Austin, Texas, in 2021. She envisioned weekend getaways, work retreats and lazy days at the pool—at a fraction of the cost of solo ownership...... The number of co-buyers with different last names hit a record in data going back a decade in 2021. It fell 29.5% over the following two years, according to real-estate analytics firm Attom Data Solutions. The percentage of co-buyers who reported purchasing with friends was 7%...

Housing affordability in the United States has taken a sharp turn for the worse in recent years, as house prices surged to historical highs during and after the pandemic and mortgage rates have risen steeply over the past three years, as the Fed tried to rein in inflation.It all began with a surge in demand for houses during the Covid-19 pandemic, when many Americans, flush with cash from government stimulus checks, reevaluated their living situation and sought more space amid stay-at-home orders and the sudden possibility of remote work. Further fueling demand were the historically low mortgage rates after the...

California Dems want to help undocumented immigrants buy homes – during presidential raceA first-in-the-nation California proposal could make undocumented immigrants [illegal aliens] eligible for up to $150,000 in state-supported home loans just as immigration has become an incendiary topic in the presidential election.The measure is likely to pass the California Legislature this week where Democrats enjoy a supermajority and in a state that has the largest share of undocumented immigrants [illegal aliens] in the country.Democratic Gov. Gavin Newsom, a top surrogate for President Joe Biden and Vice President Kamala Harris, declined to say whether he would sign the measure if...

No matter if the market is hot or cold, they still pop up: For Sale by Owner listings, otherwise known to Realtors as "FSBOs." These are houses put up for sale by the people who own them - without the help of a real estate agent. Homeowners who eschew professional assistance can start the home-selling adventure on their own, but are often unaware of the DIY pitfalls. Here are the pros, cons, and everything else you need to know about these kinds of properties. What to Know About FSBO Listings As a Realtor, I'm very aware of those DIY pitfalls....

Wen Raiti, a Chinese American community leader in Jacksonville, Florida, has been a Republican for more than a decade. As a small business owner, she said, the party’s fiscal conservatism and small government ethos resonated with her. But last May, when Gov. Ron DeSantis signed legislation banning Chinese citizens from buying property in Florida, Raiti changed her party affiliation and began campaigning for local and national Democratic candidates. Leading up to Florida’s Aug. 20 primary election, anger toward Senate Bill 264 has turbocharged voter mobilization efforts in the Chinese American community in the state, organizers and elected officials said, pushing...

The figure is an 143 percent leap from the 8,353 in the same period last year. Almost 90 percent of those for sale are in buildings more than 30 years old. Under the new guidelines, condos older than 30 years or more than three stories will require increased inspections from December 31. Read More REVEALED: The cities offering the most apartment space on a $1,500 budget article image The cost of insurance and Homeowners' Association fees to cover the special assessment requirements has also jumped. 'Condo costs are shocking,' said Juan Castro, a Redfin Premier agent in Orlando. 'Condos that...

States that have permissive policies on squatting—a growing phenomenon in the United States—need to make the practice a criminal offense, the writers of a new report from Pacific Legal Foundation (PLF) say.Squatting is occupying an unoccupied or abandoned area of land or a building without having legal permission to use it. Although squatters don’t pay rent and sometimes damage the properties they take over, evicting them can be difficult and costly.Most states are reluctant to allow criminal prosecution of squatters as trespassers and prefer treating incidents as landlord and tenant disputes. Police who wish to avoid potentially violent confrontations often...

Condo listings in Florida have skyrocketed as desperate owners attempt to dodge a costly new law requiring increased safety checks. The legislation was brought in following the 2021 collapse of the Champlain Tower South in Surfside, which killed 98 people. It later emerged that the condo association had postponed crucial repairs to avoid increasing costs, prompting lawmakers to introduced new regulations which take effect at the end of the year. As a result, the number of condos on the market has soared, especially in southern Florida, prompting warnings of a 'mass exodus.' There were 20,293 condo listings in the Palm...

Four years after the pandemic-era housing boom, the real-estate market continues to face instability. With ongoing affordability challenges exacerbated by high interest rates and inflated home values, housing is a major concern for Americans across the political spectrum. In a Tuesday interview with Fox News, Republican vice presidential candidate JD Vance shared his perspective on the root causes of the nation's high home prices and rents. "When I talk to Americans, one of the biggest concerns I hear is, 'Why are housing costs so high?' I'll give you two reasons: First, there are 20 million illegal aliens who shouldn't be...

All eyes are on the office sector as the future of commercial buildings in many cities depends upon its success, but the future isn’t looking too bright. Foreclosure rates on commercial properties have increased 48% from last year, according to a recent report from ATTOM. This rise in foreclosures is part of a larger overall trend. After reaching a peak in October 2014 with 889 commercial foreclosures, the numbers fell to a record low of 141 in May 2020 and then began rising again. Declining office performance likely attributed to the year-over-year increase in commercial foreclosures, said Joe Brady, former...

Voters in Wisconsin have revealed how crippling house prices have become a key issue for those living in the battleground state. Prices in Wisconsin are now $333,200, with more than half selling for above listing price in June, according to Redfin. The cost of a home has soared by eight percent in the last year, making it the largest increase in any of the swing states.

Building Just Sold at a 97.5% Discount The sale price of 135 West 50th Street in Midtown, which is only 35 percent full, was a sign of how much the pandemic upended the market for office buildings in New York City. COMMENT #1: Mr. Armstrong, I had to write to say thank you so much for everything you do. When Trump was indicted, you said sell and get out of New York. Your advice has always been discussed with our board, and the decision was made to sell in light of your ECM also turning in 2024. We managed to...

The national office vacancy rate hit a record 19.8% in the first quarter of 2024, according to a preliminary report from Moody’s Analytics. And it could get worse, as companies continue to lease substantial space despite a decline in the in-office footprint. The 'urban doom loop' cycleWhile the shift to remote work in recent years offers plenty of flexibility to employees, some experts have concerns the decline in office building usage could spell a more sinister problem for big cities. “Everybody’s affected by this issue,” Stijn Van Nieuwerburgh, a professor of real estate at Columbia Business School, told CNN. Van...

LOUISVILLE, Ky. — A judge recently placed a Louisville skyscraper in a receivership after its owners defaulted on a $28 million loan, according to new court documents. A lawsuit was filed in June by lender Wilmington Trust National Association in Jefferson County Circuit Court, and accused the owners of the Meidinger Tower of failing to make a monthly payment of $142,204.82 last November. The plaintiffs also claim the owners have not made a payment in any subsequent month.