China’s real estate sector continues to face significant challenges that are likely to have a lasting impact on the country’s overall economic growth. A recent report by global investment firm KKR highlights the pressing need to address the problems within the industry promptly. According to Henry H. McVey, head of global and macro asset allocation
Real Estate
Last week, the mortgage rates remained relatively stable, mirroring the previous week’s trend of stagnant mortgage demand. This stagnant trend can be attributed to the high costs associated with purchasing a home and the limited supply in the housing market. Prospective buyers are facing financial constraints due to exorbitant costs, while existing homeowners are finding
The landscape of housing affordability in the United States is grim, with housing costs soaring far beyond the reach of the average household income. According to a recent analysis by Redfin, the typical American household needs to earn a staggering $113,520 annually to afford a median-priced home, a figure that exceeds the average household income
Rent prices for one- and two-bedroom apartments have experienced a significant growth in March, marking the first increase in six months. The cost of a one-bedroom apartment in the U.S. rose to $1,487, a 0.3% uptick from the previous month. Similarly, the price of a typical two-bedroom apartment saw a 0.5% increase, reaching $1,847. While
The recent report from the Mortgage Bankers Association reveals a concerning trend in the housing market – stagnant mortgage demand. Despite the typically active spring housing market, application volume remained flat last week, dropping 0.7% compared to the previous week. This lack of movement in mortgage demand raises several red flags about the state of
Federal prosecutors have taken legal action to seize two luxury apartments in New York City, valued at $14 million, that are believed to have been purchased with funds from a corrupt scheme involving Mongolia’s significant copper mine, former Prime Minister Sukhbaatar Batbold, and his Harvard Business School graduate son. The lawsuit, filed in U.S. District
Pacaso, a luxury vacation home co-ownership platform, is making waves in the real estate market by offering a unique opportunity for people to own a share of high-end homes at a fraction of the cost. Originally launching with multimillion-dollar properties, Pacaso is now expanding its listings to include shares starting as low as $200,000. This
Recent data shows that the rate at which home prices are growing in the U.S. has slowed down. In February, U.S. home prices increased by 0.6% from the previous month, consistent with the average monthly gain of 0.6% over the past eight years prior to the Covid-19 pandemic. Daryl Fairweather, the chief economist at Redfin,
China is currently facing a critical decision regarding its economic future. According to the International Monetary Fund’s Managing Director Kristalina Georgieva, the country is at a crossroads where it must choose between sticking to its old economic policies or implementing reforms to stimulate growth. With factors such as low productivity growth and an aging population,
Donald Trump is currently facing a severe risk as New York’s attorney general, Letitia James, is poised to start collecting a $454 million civil business fraud judgment against him. The former president’s son, Eric Trump, who is also a co-defendant in the case, has accused James of attempting to bankrupt his father with the judgment.