Real estate
Australia risks recession and housing downturn after third rate hike
The negative impact of interest rate rises on Australian housing prices, household spending and the volume of dwelling investments may hurt consumer confidence and fuel the likelihood of a recession in Australia, analysts and economists say. The Reserve Bank of Australia raised interest rates for the third time in a row on Tuesday. Joining central […]
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Manhattan apartment sales fall 30% in June, but prices remain high
FUTURE LIGHT | Photodisc | Getty Images Sales contracts for Manhattan apartments plunged by nearly a third in June as the city’s scorching real-estate market started to cool amid recession fears and declining stocks. New York real estate was on a tear through the early spring, with high prices and strong sales. The median sales […]
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The world’s most powerful tidal turbine just got a major funding boost
Orbital Marine Power’s O2 turbine at the Orkney Islands, north of the Scottish mainland, in September 2021. Scotland has become a hub for companies and projects focused on tidal power and marine energy in general. William Edwards | AFP | Getty Images Scottish engineering firm Orbital Marine Power said Monday it secured £8 million ($9.64 […]
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Housing shortage starts easing as listings surge in June
A “For Sale” sign is seen outside a home in New York. Shannon Stapleton | Reuters A historic housing shortage – brought on by the one-two punch of slow construction and strong pandemic-induced demand – is finally starting to ease. Active listings for homes jumped 19% in June, the fastest annual pace since Realtor.com began […]
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Judge lifts Trump’s contempt order in New York civil probe
Former U.S. President Donald Trump arrives at Trump Tower in Manhattan on August 15, 2021 in New York City. James Devaney | GC Images | Getty Images A New York judge on Wednesday lifted a contempt-of-court order against former President Donald Trump that was imposed after he failed to comply with a subpoena as part […]
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Mortgage demand stalls again, even as interest rates swing briefly lower
After rising steadily for three weeks, mortgage rates dipped slightly last week, prompting a small increase in refinance activity. Activity from homebuyers, however, pulled back further, leaving total mortgage demand basically flat from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with […]
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Juul seeks to extend stay on FDA ban, saying agency did not evaluate all its evidence
A sign advertising Juul brand vaping products is seen outside a shop in New York City, February 6, 2019. Mike Segar | Reuters Juul Labs is seeking to extend a temporary stay on the Food and Drug Administration’s ban of its e-cigarettes, according to a court filing Tuesday. Juul said in the filing that the […]
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Home price increases slowed in April for the first time in months, S&P Case-Shiller says
People walk into a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Home price increases slowed ever so slightly in April, but it is the first potential sign of a cooling in prices. Prices rose 20.4% nationally in April compared with the same month […]
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Pending home sales post surprise increase in May, likely due to brief pullback in mortgage rates
A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC. Saul Loeb | AFP | Getty Images Pending home sales, a measure of signed contracts on existing homes, rose slightly in May, up 0.7% compared with April, according to the National Association of Realtors. That broke a six-month […]
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Amazon to invest $23 million to increase Seattle’s affordable housing
Grand Street Commons, a project in Seattle supported by the Amazon Housing Equity Fund Amazon Amazon said Thursday that it’s giving minority-led organizations $23 million to build and preserve more than 568 affordable homes in Seattle, a step to ease the local housing crisis. Amazon Housing Equity Fund, which emphasizes aiding households that earn 30% […]
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