Buying a home has been tough lately. Prices keep going up, and so do mortgage rates. But there's some good news. Experts think things might get better by 2030. First, let's talk about what "normal" means. A home is usually considered affordable if it costs about 30% of your income. That's the standard. Back in 2018, things were pretty balanced. Mortgage rates were l...
Rogers Island, a private island off the coast of Connecticut, has recently seen a significant price reduction. The island, which was initially listed at a steep $35 million, has now been marked down by $5 million. This price cut is not the only change, though. The island's new listing comes with an added bonus: a five-bedroom house on the mainland, complete with a pr...
The construction of the Goldin Finance 117 tower in Tianjin, China, is finally getting back on track. This tower, known as "China 117, " has been sitting unfinished for a decade. It was supposed to be a major part of Tianjin's skyline, but the Chinese stock market crash in 2015 put a stop to that. Now, with a new construction permit in hand, the tower is set to be co...
The housing market showed unexpected strength in February. Sales of existing homes went up by 4. 2% from January. This is a significant jump, especially when experts had predicted a 3% drop. However, it's important to note that these sales figures are based on deals that closed in February. This means the contracts were likely signed back in December or January. Duri...
The Hamptons, a ritzy beach area in New York, has seen a big drop in luxury home sales. In 2024, the top 10 sales brought in $327 million, way down from $511 million in 2023. What's behind this slump? Experts say it might be due to high prices and not enough upgrades in these old mansions. Celebrities like Joy Behar and Drew Barrymore call this place home, and billio...
Good news for those hunting for a home! In October, the number of existing homes sold jumped by 3. 4%. This is the first time in three years that sales have gone up from one year to the next. Experts say this might be the end of the home sales slump. There were more homes up for grabs compared to last year, which could explain why more people were able to buy. Even t...
China's Ministry of Finance recently held a press briefing, highlighting its focus on resolving local government debt issues rather than providing the economic stimulus markets were hoping for. Finance Minister Lan Fo'an outlined four key measures to support local governments in managing debt risks. Only after these points did he mention that the country is consideri...
The newly minted Finance Minister Rachel Reeves has outlined a series of measures to revitalize Britain's sluggish economic growth and address the crippling national housing shortages. But will these steps be enough to get the country back on track? As we delve into the details of Reeves' plan, we can't help but wonder: what if this assumption is wrong? What might sh...
Mortgage rates will likely continue to fall, making it a good idea to wait for further reductions. The 10-year Treasury rate is expected to drop, which could lead to rates in the mid to high 5% to lower 6%. Waiting could also lead to an increase in available properties, as current owners may be more willing to list their homes as rates decline. The longer you w...