Real estate owners are grappling with the fallout for higher borrowing costs and a shift in demand for properties such as offices. Madison Realty Capital Co-Founder Josh Zegen discusses the pain in commercial real estate with Abigail Doolittle and Sonali Basak on "Bloomberg Markets."
Lower mortgage rates might not be enough to help homebuyers.
China announced a slate of fresh measures Friday to reinvigorate its ailing property industry after the latest data showed housing prices have slumped nearly 10% since the start of the year. Among other things, the central bank said it would reduce the minimum down payment for mortgages and remove the floor on interest rates for first and second homes. China’s housing market has slumped after a crackdown on excessive borrowing by property developers several years ago, dragging along a wide range of other businesses — such as home furnishing, appliances and construction — and slowing growth in the world’s No. 2 economy.
High inventory and price cuts have pushed Texas and Florida into a buyers’ market.
U.S. single-family homebuilding and permits fell in April amid a resurgence in mortgage rates, but new construction remains supported by an acute shortage of houses for sale. Single-family housing starts, which account for the bulk of homebuilding, slipped 0.4% to a seasonally adjusted annual rate of 1.031 million units last month, the Commerce Department's Census Bureau said on Thursday. Housing starts increased 17.7% year-on-year in April.
The inventory of homes for sale in April exceeded typical prepandemic levels for this time of year in some metro areas.
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China on Friday announced "historic" steps to stabilise the crisis-hit property sector, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes. Investors hoped the measures marked the beginning of more decisive government intervention to compensate for waning demand for both new and old apartments, slow down falling prices, and reduce a growing stock of unsold homes. Since the property market began its steep downturn in 2021, a string of developers have defaulted, leaving scores of idle construction sites behind, and sapping confidence in what had for decades been the preferred savings instrument for the Chinese population.
Real estate has been a reliable source of wealth creation for centuries, and as the famous saying goes, “Landlords grow rich in their sleep.” However, being a landlord is not always as passive as it may seem. From screening tenants and drafting lease ...
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A modular home is built in a factory and assembled on-site. Learn how much it costs and how to finance it.