Real estate
June home sales slump, pointing to a buyer’s market as supply increases
Patchogue, N.Y.: A For Sale sign hangs in front of a house in Patchogue, New York, on June 1, 2024. Steve Pfost | Newsday | Getty Images Sales of previously owned homes dropped 5.4% in June compared with May, to 3.89 million units on a seasonally adjusted, annualized basis, according to the National Association of […]
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A Silicon Valley executive had $400,000 stolen by cybercriminals while buying a home. Here’s her warning
Key Points Rana Robillard, chief people officer at software startup Tekion, was tricked into sending her life savings to a criminal. What happened to Robillard, a 25-year veteran of tech companies, speaks to the increasingly sophisticated nature of cybercrime. Real estate, with its large transaction sizes and frequent use of wire transfers, has proven to […]
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Here’s why international buyers are pulling way back from the U.S. housing market
International buyers of U.S. residential real estate are running into the same hurdles as domestic buyers — namely high prices and tight supply — but they’re also up against a strong U.S. dollar, which makes the properties even more expensive for them. As a result, international buyers are pulling out. They purchased 54,300 existing homes […]
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Macy’s ends buyout talks with Arkhouse and Brigade after months of negotiations
The Macy’s company logo is seen at the Macy’s store on Herald Square on January 19, 2024 in New York City. Macy’s department-store chain announced that they will be laying off roughly 2,350 employees which is about 3.5% of their workforce. The company says that it will also be closing five stores in order to […]
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CNBC Daily Open: Trump assassination attempt
Traders work on the floor of the New York Stock Exchange during afternoon trading in New York City. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. […]
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With large prices and mortgage loan prices, aspiring and latest house owners sense ‘stuck’
A home out there for sale is revealed on Could 22, 2024 in Austin, Texas. Brandon Bell | Getty Photos When Rachel Burress moved into her mother’s house around a 10 years in the past, it seemed like a quick-phrase halt on the route to homeownership. The 35-12 months-outdated hairdresser spent all those yrs improving […]
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Inside a $60 million beachfront mansion with subterranean secrets and Italian flair
The Mar Pietra compound in Delray Beach, Florida, is being offered at $60 million. Daniel Petroni The owner of a beachfront mansion in Delray Beach, Florida, is looking to shatter a local price record with a home that delivers old-school Italian flair above ground and hidden personality below. While the upper levels are adorned with […]
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China gears up for next week’s Third Plenum meeting. Here’s why real estate isn’t likely the main focus
Key Points The much-anticipated policy meeting, scheduled for Monday to Thursday, is a major gathering of the top members of the ruling Communist Party of China that typically happens only once every five years. This plenum was widely expected to be held last fall but has been delayed. “The key challenge faced by Beijing is […]
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Here’s where — and how — the super-rich are investing, according to a wealth manager
The super-rich have a very different mindset toward investing than the average person, wealth manager Robert Fraser says. “Most people focus exclusively on public markets and have a 60/40 mindset towards investing — where 60% of their funds are in equities and 40% is in fixed income. Billionaires don’t think that way,” the co-founder and […]
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It suddenly looks like there are too many homes for sale. Here’s why that’s not quite right
Anyone out shopping for a home today knows there is still precious little for sale. The housing market is just beginning to come out of its leanest few years in history. Inventory of both new and existing homes is finally rising, but there is something suddenly strange in the numbers: The supply of newly built […]
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