Prior to Feb. 3, East Palestine, Ohio, was a small, unassuming village in the northeast corner of Columbiana County, Ohio, close to the Pennsylvania border. The middle-class suburban community is considered safe and affordable, with a median home sales price of $140,000. But all that changed when the village became a national spotlight following the…
East Palestine Real Estate Market in Limbo, as Fallout From Toxic Train Crash Continues
March 20, 2023
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Queensland Toys With Rent Controls as Homelessness Rises 22 Percent
March 20, 2023
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Landlords in Queensland could be forced to keep rents artificially low as the state government considers ways to deal with its housing crisis. Over 150,000 families were dealing with housing stress in the state, with 100,000 of those eligible for social housing—the current waitlist is 27,000—according to a new report by the Queensland Council of…
Bank Failures Lead to Lower Mortgage Rates
The first good news for potential homebuyers has come out recently with a drop in mortgage rates. Rates had been at a high of over 7 percent, but due to the news of two bank failures, they dropped toward a 6 percent level. The collapse of both Silicon Valley Bank and the Signature Bank seems…
American Homebuyers Gain Leverage as Record Share of Sellers Slash House Prices: Redfin
March 17, 2023
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Home sellers are giving more concessions and price cuts to prospective buyers amid high mortgage rates and home prices, according to real estate brokerage Redfin. During the three months ending Feb. 28, sellers gave concessions to 45.5 percent of home sales recorded by agents at Redfin, according to a March 15 press release. This is…
Victoria Adds Just 74 New Public Dwellings Despite Multi-Billion-Dollar Program
March 17, 2023
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The Australian state of Victoria has added a slither of new social housing stock over the past four years, despite introducing a multi-billion-dollar program to boost social housing. The latest annual report by the Victorian Department of Families, Fairness and Housing revealed that the state had a total social housing stock of 86,887 dwellings by…
Silicon Valley Bank Collapse Could Impact Housing Market in Two Ways: Zillow
March 16, 2023
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The recent collapse of Silicon Valley Bank (SVB) could impact the housing market in two separate ways, according to real-estate marketplace company Zillow. In an article published on March 14, Zillow chief economist Skylar Olsen noted that mortgage rates could fall if the Federal Reserve pulls back from its aggressive interest-rate hikes—which market experts have said looked likely to…
Salt Lake City Named Top US City for Minimalist Living
A new study by RentCafe, an apartment and self-storage website, points to Salt Lake City, Utah, as the best U.S. city for minimalist lifestyles, followed by Arlington, Virginia, and St. Paul, Minnesota. Rounding out the top 5 locations are Madison, Wisconsin, and Atlanta, Georgia. Part of the Yardi real estate software development family, RentCafe ranked 96…
When First Jumping Into Rental Real Estate—Be Very Careful
Dear Monty: I want to buy my first rental property with my husband. We plan on purchasing with cash and buying cash flow of $1,500 a month. We found a property with three units and a monthly rent of $1,500. The only red flag is that it is reasonably priced and has been on the…
Major Homebuilder Leaves California for Texas as ‘Blue’ State Business Exodus Continues
March 9, 2023
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A major U.S. homebuilding company has announced plans to move its headquarters out of California, in another blow to the state. Landsea Homes, a Newport Beach, California, construction firm, which designs and builds master-planned communities and houses across the country, announced on Mar. 8 that it would move its corporate headquarters to Dallas, Texas. The firm has developed homes and communities in…
Homebuilder Leaves California for Texas as ‘Blue’ State Business Exodus Continues
March 9, 2023
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Business & MarketsCaliforniaCompaniesDemocratseconomic policieseconomyFloridaHomebuilderIllinoisNew YorkPolicies & ImpactsPoliticsreal estateRegional & State NewsSocial IssuesSouthern CaliforniaState NewsTexasUSUS Real Estate
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A U.S. homebuilding company has announced plans to move its headquarters out of California, in another blow to the state. Landsea Homes, a Newport Beach, California, construction firm, which designs and builds master-planned communities and houses across the country, announced on Mar. 8 that it would move its corporate headquarters to Dallas, Texas. The firm has developed homes and communities in Boston,…
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