By Jeff Ostrowski From Bankrate The U.S. housing market may be starting to slow down, but it is still hot. Double-digit appreciation is commonplace. Many sellers are still giddily sifting through multiple offers, and frantic buyers continue to pay more than asking prices—sometimes by $100,000 or more. Yes, the real estate party remains in full swing, far longer…
Is the Housing Market About to Crash? Here’s What Experts Are Saying
Are We Facing a Global Housing Crisis?
September 6, 2022
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Commentary There seems to be a global housing crisis in the early stages of development, but what about in the United States? As rates continue to rise, pressure is increasing across the country and around the globe, and a hefty amount of risk is on the horizon. Goldman Sachs Chief Economist Jan Hatzius recently released…
Blaze Destroys $24 Million Mansion Owned by Chinese Businessman
An enormous fire ravaged a A$24 million (US$16.35 million) waterfront mansion in Australia’s Sydney owned by a Chinese real estate mogul. Firefighters were called to the Cliff Road home in the lower north shore suburb of Northwood around 11:50 p.m. on Saturday to find the six-bedroom property alight, with only the roof structure remaining. The blaze…
‘Out of Touch With Reality’: Queensland Peak Body Criticises Green Party’s Rent Freeze Bill
A real estate peak body in Queensland has criticised the Australian Greens Party for proposing a bill that would suspend rental prices in the state, saying it was out of touch with reality. This came after Greens MP Amy MacMahon tabled a private member’s bill to the Queensland parliament on Aug. 31. If approved, it…
Housing Market in Regional Australia Continues to Grow While Prices Fall in Capital Cities
Regional South Australia has seen its housing market reach a new peak, with property prices in the area hitting “significant growth” as home prices continue to fall across the country, according to PropTrack’s latest report. Meanwhile, Adelaide was the last capital city to record a price fall this year, making it the strongest performing capital…
Bank of America to Give Away Zero-Down-Payment Mortgages for Minority Homebuyers
September 2, 2022
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Bank of America (BoA) announced a new trial program that will offer first-time minority homebuyers mortgages that will not require down payments, closing cost mortgages, or minimum credit score checks, it said in a statement on Aug. 30. Minority activist groups have called these long-standing criterions obstacles to minority homeownership. The bank has yet to disclose…
Housing Downturn Spreads Across Australia as Home Values Tumble in August
Australian housing values fell for the fourth consecutive month in August as interest rates continued to hike, marking the sharpest drop in nearly four decades. According to real estate data provider CoreLogic, national home values dipped by 1.6 percent to $738,321 (US$500,000) during the month, with the downturn observed in every capital city except Darwin….
Valuable Tips for Every First-Time Homebuyer
Dear Monty: I live in the Washington, D.C., area, where home prices are always higher than in other parts of the country, and I hope to move closer to the city. I work as a freelancer and have about $150,000 saved up. I think I will have to get a modest condo if I buy…
Home Prices Rising at ‘Robust Clip’ Despite Some Deceleration: Case-Shiller
New data from Standard & Poor’s reveal a subtle deceleration of steadily rising home prices, causing some to speculate that a cooling off in the housing market may be on the horizon, even as the market remains far hotter than pre-pandemic levels. S&P released its monthly Case-Shiller Home Price Index on Aug. 30, which raised…
Foreclosure Wave and the Slowdown on New Home Constructions
Loan servicers and banks are expecting a wave of foreclosures to inbound. The foreclosures over the past two years have built up due to the foreclosure and eviction moratorium. Data from the Mortgage Bankers Association conclude that when there is a spike in defaults, typically there also is an increase in foreclosures; but in 2020…
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