The cost of buying a home has always been a significant investment in the U.S. However, what many potential buyers fail to realize is that the expenses don’t stop at the purchase price. In fact, the “hidden costs” of homeownership have become a substantial financial burden for many individuals in the country. According to a
Real Estate
As of the first quarter of 2024, total home equity for U.S. mortgage holders reached over $17 trillion, just short of the all-time high set in the previous year. Data from CoreLogic indicates that the average equity per borrower has increased by $28,000 to approximately $305,000. This substantial rise in wealth represents a nearly 70%
Different experts have varying opinions on the current state of the housing market in the latter half of the year. While some like Glenn Kelman, chief executive of Redfin, predict an improvement in the market due to hitting rock bottom in the first quarter of 2024, others like Jeff Ostrowski, a housing analyst at Bankrate.com,
The real estate market is buzzing with an array of iconic homes that are up for sale, and buyers are willing to pay a premium price to own a piece of pop culture history. This premium, however, is challenging to quantify as uber-wealthy buyers are often ready to shell out exorbitant amounts for homes with
Many Americans consider real estate as the top long-term investment option, as evidenced by a recent Gallup survey. This sentiment is understandable, given the emotional attachment and tangible nature of real estate investments. Unlike stocks and bonds, real estate can evoke strong feelings and be seen as a legacy to pass down to future generations.
The Dubai Mall, known for being one of the largest malls in the world, is set to undergo a massive expansion costing an estimated 1.5 billion dirhams ($408 million). This sprawling shopping complex in the United Arab Emirates’ commercial capital is already home to a plethora of stores, food and beverage vendors, entertainment facilities, and
Last week, mortgage interest rates reached the highest level since early May, causing a decline in mortgage demand for the second consecutive week. According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume dropped by 5.2% compared to the previous week. This decrease can be attributed to the average contract interest rate
The debate surrounding the impact of real estate investors on the housing market has been ongoing for quite some time. Many consumers tend to blame private equity and investor activity for soaring housing prices, suggesting that they are hindering individuals from becoming homeowners. However, a closer look at the data reveals a different story that
When Paul Lester first organized an art opening in a luxury property viewing in Beverly Hills, he didn’t realize the impact it would have on the sale of the property. By showcasing significant artwork by contemporary artists alongside designer furniture in the high-end properties he was listing, Lester was able to create an elevated package
Recent data from the National Association of Realtors revealed a significant 7.7% drop in signed sales contracts on existing homes in April, compared to the previous month. This decline marks the slowest pace since April 2020 and suggests a challenging market environment for buyers and sellers alike. Pending sales, which serve as a leading indicator