Whether you’re a business owner or concerned about your personal finances, you’ve likely been tuned in to current news about the economic status of the country. There’s been a lot of talk about recessions and at-risk investments in the past few months. Whether we’re in one, about to enter one, or far away from one,…
5 Investments Likely to Thrive in a Downturn
October 12, 2022
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Four Options When the Seller’s Agent Refuses to Present an Offer
Dear Monty: We made an offer on a home through our agent that is $400k overpriced at $1.3 million. Our agent researched the comparable sold homes in the area. They recently listed the house. They rejected the offer. Sixty days later, we tried again, removed several contingencies, and left the price as before. Their agent…
Sydney to Overtake Canberra as Most Expensive Rental Market in Australia
Sydney is on its path to replacing Canberra as the most expensive city for renters in Australia due to an increase in demand for rental properties as migration is picking up. According to the real estate data provider CoreLogic, Canberra was the only capital city to see a drop in rents in the September quarter,…
Mortgage Market on Red Alert
October 10, 2022
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Business & MarketsBusiness Columnistseconomyinterest rateMarketsmortgageOpinionreal estateUSUS NewsUS Real EstateViewpoints
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Commentary The financial markets are fragile right now. And there’s no better illustration of this than the multiple layers of issues plaguing the U.S. mortgage market. To U.S. consumers, the mortgage interest rate is probably the most direct translation of the Federal Reserve’s interest-rate moves. More than 50 million Americans have a mortgage, and a…
NSW Pushes to Convince Residents to Opt out of Stamp Duty for Land Tax
October 9, 2022
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AustraliaBusiness & MarketsDominic Perrotteteconomic policiesGlobal Real EstateLand TaxNew South WalesNSWreal estateWorld
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The New South Wales (NSW) government has launched an online calculator to allow first home buyers in the Australian state to see how much money they would save by switching to an ongoing land tax instead of the current stamp duty. This comes as the NSW government is set to introduce legislation to trial the…
US Home Sales Tanking: Industry Leaders Weigh in on What’s Next
For the third straight month in a row, pending U.S. home sales have plunged, the National Association of Realtors (NAR) recently reported. At the end of August, three out of four major regions experienced month-over-month declines in real estate transactions, with only the West seeing a slight gain. Year-over-year, all four regions indicated double-digit decreases….
Millennial: You Nixed Your Home-buying Plan. What Now?
Millennials are in peak nesting mode. We want the outdoor space many apartments lack, or the room to grow that a starter house doesn’t offer. There’s just a not-so-small problem. The median existing home sales price of U.S. homes was $389,500 in August, according to the National Association of Realtors. That’s a 7.7 percent increase…
Wall Street Expects Second-Biggest Home Price Drop Since Great Depression
October 6, 2022
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Business & Marketseconomyhome priceshousinginflationinterest ratesMarketsmortgage ratesreal estaterecessionUSUS NewsUS Real Estate
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Top investment firms, including Morgan Stanley, are predicting a significant drop in U.S. home prices amid high mortgage rates, elevated home prices, and affordability challenges. Morgan Stanley is calculating home prices to dip by 7 percent by the end of 2023, which is more than twice as large as the 3.1 percent peak-to-trough decline seen…
Australian Rents Grew at Fastest Quarterly Pace, Expected to Climb Further
October 6, 2022
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Australiaaustralian rental marketBusiness & MarketsCoreLogiceconomyGlobal Real EstateInvestmentreal estaterental growthWorld
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Rents in Australia rose at the fastest quarterly pace over the three months to September and are set to continue climbing, according to the latest PropTrack Market Insight Report. Median weekly rent prices rose 4.3 percent over the September quarter, following a 2.2 percent rise in the previous quarter. Advertised rental rates also grew 10.3…
Mortgage Application Pace Plunges to 25-Year Low as Housing Recession Deepens
October 5, 2022
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Business & Marketseconomyhigh interest rateshousing recessionMarketsmortgage applicationsmortgage ratesmortgage refinancereal estaterecessionUSUS NewsUS Real Estate
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The pace of mortgage applications has fallen to a multi-decade low amid high housing interest rates, according to the latest data from the Mortgage Bankers Association (MBA). The Market Composite Index, a measure of mortgage loan application volume, declined by 14.2 percent on a seasonally adjusted basis for the week ended Sept. 30, 2022, compared…
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