Real Estate

California has the highest rent gap to close in order to keep cost-burdened tenants housed in the … [+] next six months, according to an analysis by UrbanFootprint. Getty As housing advocates across the U.S. brace for what they predict to be a spike in evictions this summer, when government protections are set to fade

Wells Fargo is raising the bar for new customers to get a popular mortgage product, CNBC has learned exclusively. The bank is now requiring new clients to bring at least $1 million in balances if they want to refinance a jumbo mortgage, up from a previous level of $250,000, according to people with knowledge of

Mortgage applications are going strong Getty The pause in mortgage applications as the Covid epidemic took hold is looking like a mere blip in the distant past as buyer activity surges, according to the latest weekly data numbers. The Mortgage Bankers Association weekly report shows purchase applications rose 33% compared to this week last year,

Potential homebuyers exit an open house in Redondo Beach, California. Patrick T. Fallon | Bloomberg | Getty Images After a brief pullback at the end of June, homebuyers rushed back into the mortgage market last week, taking advantage of record-low mortgage rates. Mortgage applications to purchase a home rose 5% for the week and were

Realtor.com monthly traffic hit an all-time high of 86 million unique users in June. Getty It may be the lazy days of summer, but it feels like spring in the housing market — and not a moment too soon — as median home prices are surging.  As buyers flooded into the market, realtor.com’s monthly traffic

Homebuilder Taylor Morrison posted record sales last month and saw the best output come from coronavirus hot-spot states, CEO Sheryl Palmer told CNBC on Wednesday. Home sales for the company nearly doubled in the month of June. “We have seen, if you think about the states that I think have gotten, you know, the most

The student housing industry has been hard at work planning for the fall. Getty With the fall semester approaching, student housing owners and operators are taking unprecedented precautions to ensure students return to a safe and productive environment. Students are likely to find transformed spaces in on-campus housing and new normals as they start or

The new stamp duty holiday could help boost the U.K. housing market Getty Images Stamp duty payments in England and North Ireland have been cut, Rishi Sunak announced today. The U.K. chancellor has increased the threshold at which buyers are required to pay stamp duty from $157,000 to $629,000. The level has been raised to help the

Taylor Morrison Home Corp. signage stands in front of homes under construction at the La Solara Community in Dublin, California. David Paul Morris | Bloomberg | Getty Images Ultra-low mortgage rates, a shortage of existing homes for sale and strong demand for new high-tech houses catapulted homebuilder Taylor Morrison‘s sales into record territory in June.

CEO of Snappt and President of Berlind Properties. Getty With all 50 states in the process of unfolding plans to reopen the economy after the shutdown caused by the Covid-19 crisis, landlords and tenants alike are curious as to what this new normal will mean for rent payment, deferment or evictions. Like all things in the ongoing

Jamie Grill | Getty Images I was raised one and two sentences at a time, my father’s clichés serving up life lessons at the kitchen table, after baseball practice or on the way home from school. He didn’t have the patience for long-winded lectures and couldn’t find his voice after biting his tongue at work

The coronavirus pandemic is pushing businesses and dwellers out of city centers and downtowns into the outskirts in the short term, but demand can be expected to return to big cities, according to the head of the largest commercial real estate broker in the country. Hessam Nadji, president and CEO of Marcus & Millichap, on

The Mar-a-Lago estate at the water’s edge in Palm Beach, Florida. The mansion was built by Marjorie … [+] Merriweather Post in the 1920s. Corbis via Getty Images Glenn Parada, the head of an eponymous mortgage empire that recently established its headquarters in Palm Beach, Florida, was born in El Salvador at the peak of

There’s been a lot of analysis and debate on exactly where the stock market is headed in the post-COVID-19 environment. But much less attention has been focused on the housing market. Or more precisely, on whether now is the right time to buy a house. Getty On the plus side, house prices have held steady

Rick Nazarro of Colonial Manor Realty talks with a pair of interested buyers in the driveway as a couple waits to enter a property he is trying to sell during a “controlled” open house on May 2, 2020 in Revere, MA. Blake Nissen | Boston Globe | Getty Images After plunging to nearly the lowest

MoMo Productions With mortgage rates at record lows, it’s no wonder many Americans are refinancing their homes. Add to that the coronavirus pandemic and the economic recession, and the need to find extra cash or to cut expenses becomes even greater. In fact, refinance applications are 74% higher than a year ago, according to the

And the higher the prices go, the more the demand thins, and the more pressure comes to bear on … [+] prices… Getty New York City has entered Week One of Phase Three and with it the post-pandemic real estate reawakening. There already seem to be some winners. Numerous properties in the $2 million and

Pedestrians walk past commercial real estate in Manhattan. Michael Nagle | Bloomberg | Getty Images Delinquencies in commercial mortgage-backed securities last month had their largest one-month surge since Fitch Ratings began tracking the metric nearly 16 years ago. The delinquency rate hit 3.59% in June, an increase from 1.46% in May. New delinquencies totaled $10.8

A pedestrian wearing a protective mask walks past some Retail Space For Lease in San Francisco, … [+] California, U.S., on May 6, 2020. Emptied out malls and hotels across the U.S. have triggered an unprecedented surge in requests for payment relief on commercial mortgage-backed securities, an early sign of a pandemic-induced real estate crisis.

A famed rapper, producer and fashion designer, Kanye West has been dabbling in real estate for … [+] several years now, much like President Donald Trump, whose family made its fortune in the industry. Amy Harris/Invision/AP A day after Kanye West announced his bid for the Oval Office in a tweet dispatched on July 4th,

If you’re in the market for a house and are considering an “interest-only” mortgage, proceed with caution. With tightened lending standards amid ongoing economic uncertainty — coupled with continually rising home prices and persistent low interest rates — some borrowers may gravitate to these so-called interest-only loans, experts say. These are loans where you only

Brendan McDermid | Reuters Direction requests Requests for transit directions on Apple Maps are still nowhere near pre-pandemic levels, according to data from the navigation app. However, driving and walking direction requests have surged from their low points during the early stages of the outbreak. Travelers may be more inclined to driving and walking rather

Rent payment assistance will help both renters and their landlords, says Bob Pinnegar, president and … [+] CEO of the National Apartment Association. Eviction moratoriums, though, may not be as effective. Getty As the economy continues to wobble due to the coronavirus pandemic, while policy proposals diverge on how to prop it back up, July

When Diane Pearson’s sons both attended Robert Morris University, buying a condo for them in the suburb of Pittsburgh made financial sense. Pearson, who is a certified financial planner, took out a home equity line of credit to purchase the property with cash in 2013.  Three years later, the family sold it at a $5,000

President, Dane Real Estate. Getty At a time when communication has become modernized, yet disconnected, we’re seeing how important and meaningful it is to connect with others on a personal level. The pandemic has affected our personal and professional lives inextricably. It has changed the way we work, conduct business and communicate with friends and loved

Beaches in Miami, Fort Lauderdale and Palm Beach will close for the July 4th weekend amid … [+] coronavirus concerns in Florida. Getty Images Mortgage rates hit a new record low heading into the holiday weekend as a resurgence of coronavirus cases prompted investors to rush to the relative safety of the bond markets.  The

Open plan office in refurbished fire station. Port House, Antwerp, Belgium. Architect: Zaha Hadid … [+] Architects, 2016. (Photo by: Hufton+Crow/View Pictures/Universal Images Group via Getty Images) Universal Images Group via Getty Images As businesses re-open and others continue their preparation to welcome employees back to the workplace, the open-plan office suddenly looks more risky than revolutionary. The ability to network while hot desking, learn by listening and brainstorm at the

Chris McAllister is the Founder of Real Estate Brands Ltd, the franchising entity for ROOST Real Estate Co. and Lucky Town Real Estate Co. Getty The real estate market has never been tighter. I have been licensed for 20 years now, and I have never seen the market more aligned with the interests of sellers and residential

Tourists pass by a homeless man sitting on Hollywood Blvd, Hollywood, California on June 12, 2020. Mark Ralston | AFP | Getty Images Eviction moratoriums nationwide are set to expire later this month, potentially thrusting tens of thousands of people into a housing crisis.  Congress in March passed a federal mandate prohibiting evictions or foreclosures

People are traveling less this year and many cities are canceling public fireworks festivities because of the Covid-19 pandemic, but that doesn’t mean you can’t have a fun Fourth of July weekend. You’ll just be doing it at home with members of your own household. On the plus side, this lower-key celebration may give you extra