U.S. apartment rents dropped for the third straight month in November, easing back from this year’s record highs as leasing demand continues to weaken, according to newly released data. While still lofty compared to previous years, effective asking rents for new leases declined 0.59 percent nationally last month, marking the largest cut since the pandemic…
Tech Hubs, Desert Metros See Rents Soften in November: Report
December 7, 2022
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Taxing Home Equity Would Be ‘Political Suicide,’ Says Real Estate Group CEO
Taxing home equity would bring disastrous political consequences for the party in power, the CEO of the Canadian Real Estate Association (CREA) told the Senate finance committee on Dec. 6. “It would be political suicide for anyone to suggest this,” said CREA CEO Michael Bourque, according to Blacklock’s Reporter. “Those who do suggest it would…
More Than 40 Percent of Americans Expect the Housing Market to Crash Next Year: Survey
December 7, 2022
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A lot of consumers have a very gloomy outlook about the market due to news of mass layoffs, high inflation, and rising credit card debt, according to a new survey that shows 41 percent of Americans believe the housing market will crash next year. The survey was conducted on more than 2,000 American consumers by…
How to Draft a Real Estate Contingency
Dear Monty: We are selling our home to a neighbor down the street. We didn’t know them, but they knocked on our door a month ago and asked if we would be interested in selling. We got several opinions from agents and decided we could do this on our own. We have now agreed on…
Rezoning Could Create 70,000 Homes in New South Wales
Up to 70,000 new homes could be built in Australia’s most populated state New South Wales (NSW) as new areas are rezoned, with the NSW premier saying he’s “throwing everything at getting more houses built” as the cost of living continues to bite. “Working with councils, rezoning is one important lever that we are pulling…
Is Now the Right Time for Your Business to Buy Real Estate?
For small businesses hoping to establish or expand their brick-and-mortar presence, it may seem like a bad time to sink cash into a commercial property purchase. Amid predictions of an upcoming recession, the Federal Reserve increased the federal funds rate for the sixth time in 2022, citing inflation risks and global conflict. Inevitably, this will…
Experts Say Cooling US Housing Market Isn’t in Same Neighborhood as 2008 Price Plunge
It’s one of those moments that lead many Americans to grit their teeth whenever it’s mentioned: the 2008 housing market crash. Few events in recent decades have instilled homeowners with more dread than the notorious housing bubble burst that year. A combination of cavalier lending policies and high market inventory stemming from the subprime mortgage…
Rents Fall Slightly as Apartment Demand Continues to Cool
The median rent for an apartment in the United States has dipped 2.2 percent since August, pointing to a cooling of the country’s super-heated apartment market as demand slows and vacancy rates rise. Apartment List, an online rental marketplace, observed a 1 percent decline in its national rent index in November, marking the third straight…
Australia’s Home Value Downturn Continues to Ease in November
Australia continued to see a downward trend in home values in November, but the pace of decline also slowed down, with the smallest monthly drop recorded since June. According to the latest home value index from real estate data provider CoreLogic, house prices across Australia fell by one percent on average in November, down from…
Big-City Offices Remain Mostly Empty Amid Remote Work
December 1, 2022
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Offices in America’s biggest cities are still less than half occupied, reflecting the impact of remote work despite an ongoing campaign by many employers to summon workers back to their desks. According to a weekly update by access control company Kastle Systems, offices across 10 cities were just 37.8 percent occupied on average as of…
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