Housing
Black real estate developers get rare access to big capital through Philadelphia program
Black Americans represent less than 5% of residential real estate developers, largely because they can’t get equal access to capital, according to a recent report by the Urban Land Institute. Institutional capital – real estate investment trusts and private equity in particular – are the dominant players. Black developers often don’t have exposure to those […]
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Home price gains weakened sharply to end 2022, according to S&P Case-Shiller
A “For Sale” sign in front of a home in Roseville, California, on Tuesday, Dec. 6, 2022. David Paul Morris | Bloomberg | Getty Images Higher mortgage rates weighed on home price gains at the end of 2022. While prices were still higher than they were a year earlier, the rate of increase slowed quickly, […]
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A rush of homes go under contract in January, but it’s unlikely to last
Saul Loeb | AFP | Getty Images A sharp drop in mortgage interest rates brought homebuyers out in force in January, but rates have bounced back higher again, so the gains may be short-lived. Signed contracts on existing homes jumped 8.1% last month compared with December, according to the National Association of Realtors. That’s the […]
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M&A is a ‘huge chance area’ for Airbnb, claims Canvas Ventures’ Mike Ghaffary
ShareShare Short article through FbShare Write-up by way of TwitterShare Post via LinkedInShare Report by way of Email TechCheck Mike Ghaffary, Canvas Ventures, joins ‘TechCheck’ to talk about his feelings on Airbnb and big options, as perfectly as the worth of the stock. 03:26 an hour ago Source
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Homebuilder sentiment in February improved by the biggest amount in a decade
America’s homebuilders are growing more bullish as buyer demand picks up, driven in part by slightly lower mortgage rates. Homebuilder confidence in the market for newly built single-family homes in February rose 7 points to 42, according to the National Association of Home Builders/Wells Fargo Housing Market Index. This is the highest reading since September […]
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Mortgage demand drops as interest rates bounce higher
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. Joe Raedle | Getty Images After falling for five straight weeks, mortgage rates jumped last week, triggering a decline in mortgage demand. Total mortgage application volume fell 7.7% last week, compared with the previous week, according to the […]
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Here’s what’s happening with home prices as mortgage rates fall
An aerial view from a drone shows homes in a neighborhood on January 26, 2021 in Miramar, Florida. According to two separate indices existing home prices rose to the highest level in 6 years. Joe Raedle | Getty Images The U.S. housing market cooled off pretty dramatically last year, after mortgage rates more than doubled […]
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These 10 metro areas are the most ‘rent burdened’ in the U.S. — New York City comes in at No. 1
Spencer Platt | Getty Images News | Getty Images New York is the most rent-burdened metro area in the U.S., according to a new report from Moody’s Analytics. A household with the median income in the Big Apple would need to pay nearly 69% of earnings to rent the averaged-priced apartment there, the research division […]
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Communities struggling with banking access give banks on wheels a spin
A banking van for the Lower East Side People’s Federal Credit Union parked on the curb of West Tremont Avenue in The Bronx. Rebecca Picciotti | CNBC NEW YORK – Parked on the curb of West Tremont Avenue in the Bronx, amid a chain of sedans and minivans, there is sometimes a bank on wheels. […]
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Mortgage rates drop to the 5% range for the first time since September
Prospective buyers at an open house in Florida. Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images The average rate on the 30-year fixed rate mortgage has fallen to 5.99%, according to Mortgage News Daily. The housing market hasn’t seen the rate with a five handle since a brief blip […]
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