Real Estate

In China, people typically buy apartments before they are completed. Pictured here on June 28, 2022, are unfinished residences in Nanning, Guangxi Zhuang Autonomous Region. Future Publishing | Future Publishing | Getty Images BEIJING — Goldman Sachs has cut its forecast for the MSCI China index due to a worsening slump in China’s property market.

The Covid-19 pandemic caused chaos in the U.S. housing market, with prices skyrocketing, inventories dwindling and intense bidding wars. Then came record inflation, which drove the price of everything higher. The U.S. Federal Reserve, though, is waging an intense fight against rising prices, using interest rates as its primary weapon. A side effect of raising

The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications for a mortgage to purchase a home

Former President Donald Trump Jonathan Ernst | Reuters A former special New York prosecutor who quit a criminal investigation of ex-President Donald Trump after his boss declined to lodge charges at the time said that if Trump “had been Joe Blow from Kokomo, we would have indicted without a big debate.” “I believe that Donald

Brendan Wallace, co-founder and managing partner of Fifth Wall in their Manhattan office. Source: CNBC Fifth Wall, a venture capital firm focused on real estate technology, is tripling down on its bet that climate tech will become an integral driver in the real estate space. It just announced commitments of half a billion dollars to

The Asian Development Bank has cut its growth forecast for China due to concerns over the country’s zero-Covid approach and strict lockdowns, which put even more pressure on the real estate sector. Gross domestic product growth for the world’s second largest economy is expected to be at 4% in 2022, down from an earlier estimate

Sales of previously owned homes in June fell 5.4% from May, according to a monthly report from the National Association of Realtors, as prices set records and rates surged. The sales count declined to a seasonally adjusted annualized rate of 5.12 million units last month, the group said. Sales were 14.2% lower compared with June

To keep up with the surging cost of living, consumers are spending more and saving less — and rising interest rates aren’t helping the matter. Next week, the Federal Reserve likely will raise rates by another three-quarters of a percentage point, although some on Wall Street still think it could opt for a full percentage point increase. 

Chinese real estate developers, including highly indebted Evergrande, have operated a business that relied on selling apartments before they were completed. Pictured here is an Evergrande development in Beijing on Jan. 6, 2022. Bloomberg | Bloomberg | Getty Images BEIJING — China’s real estate market desperately needs a boost in confidence, analysts said, after reports

Renting an apartment for the first time is an exciting step into adulthood but it’s a big commitment financially so you want to make sure you do your homework and make a choice that’s right for you — and your budget. First, you have to time it right when you’re looking at apartments — you

A contractor works on a new home under construction in Tucson, Arizona, U.S., on Tuesday, Feb. 22, 2022. Sales of new U.S. homes retreated in January after a flurry of purchases at the end of 2021, indicating a jump in mortgage rates may be starting to restrain demand. Rebecca Noble | Bloomberg | Getty Images

The three most important things in real estate: location, location, location. And the U.S. real estate market is in a weird place right now. Mortgage rates are nearly double what they were a year ago, reflecting the Federal Reserve’s campaign to rein in inflation. But they have also been volatile, including some sharp declines from

Blue Heron’s cliffside spec house spans three levels in San Diego’s La Jolla neighborhood. Blue Heron This newly built cliff-side mansion overlooking the Pacific Ocean in Southern California comes with an ambitious $32.5 million asking price. It’s one of the most expensive homes for sale in San Diego County, and that price tag puts it

In this article RDFN Stockton, California DenisTangneyJr | iStock | Getty Images After the frenzy of bidding wars, the U.S. housing market is starting to cool, particularly along the West Coast, as mortgage interest rates rise. That’s forcing some sellers to adjust. “Sellers have to be more realistic,” said Bill Kowalczuk, real estate broker at

Chinese property broker Beike expects housing demand to decline domestically over the next decade. Pictured here on June 28, 2022, is a new commercial residential complex in Nanning, Guangxi Zhuang Autonomous Region, China. Future Publishing | Future Publishing | Getty Images BEIJING — China’s massive residential real estate market is only going to see demand

Soaring inflation is putting markets on edge and triggering fears of recession. The latest consumer price index this week revealed a searing 9.1% increase year-on-year in June, prompting Treasury Secretary Janet Yellen to say that inflation in the U.S. is “unacceptably high.” The causes behind the steep jumps include high commodity and energy prices triggered

Daniel Acker | Bloomberg | Getty Images More home sellers are dropping their asking prices as rising mortgage interest rates and inflation have slowed down competition in the housing market. Some cities are seeing more price cuts than others. Boise, Idaho, took the lead in June, with 61.5% of sellers cutting their asking prices, according

A Chelsea Tower rental apartments billboard. Jeff Greenberg | Getty Images The average monthly rent for a Manhattan apartment surpassed $5,000 for the first time — and brokers say demand and prices are headed even higher into the fall. The average apartment rent in June was $5,058, the highest on record, according to a report

A “For Sale” sign in Crockett, California, on Tuesday, June 14, 2022. David Paul Morris | Bloomberg | Getty Images As consumers worry more about inflation, fewer are buying homes — and if they are, they’re buying less expensive homes. Mortgage demand fell last week compared with the previous week, and the average loan size

Saul Loeb | AFP | Getty Images If you’re a prospective homebuyer who is having second thoughts, you’re not alone. About 15% of all home contracts fell through in June, marking the highest share of cancellations since March 2020 — the start of the pandemic — when it was 17.6%, according to real estate brokerage