Real estate
How the Fed’s escalating fight against inflation is hitting the hot housing market
The Covid-19 pandemic caused chaos in the U.S. housing market, with prices skyrocketing, inventories dwindling and intense bidding wars. Then came record inflation, which drove the price of everything higher. The U.S. Federal Reserve, though, is waging an intense fight against rising prices, using interest rates as its primary weapon. A side effect of raising […]
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The world is growing old at a rapid pace. Here are ways to invest for a gray future
When the coronavirus pandemic first struck in early 2020, some speculated that lockdowns would lead to a boom in American births as couples were forced to stay home. The opposite happened instead: U.S. population growth decelerated in 2020 and even further last year, to the slowest pace in the 246-year history of the nation, according […]
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The wealthy now have more time to avoid estate taxes, thanks to an IRS change
If your family has significant wealth, it’s now easier to avoid federal estate taxes, thanks to recent changes from the IRS. The IRS improved a strategy known as “portability,” used by high-net-worth married couples expecting to owe federal estate taxes when the second spouse dies. Here’s how it works: While a spouse may inherit all […]
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If Trump was ‘Joe Blow from Kokomo,’ he would have been charged with crimes, former New York prosecutor says
Former President Donald Trump Jonathan Ernst | Reuters A former special New York prosecutor who quit a criminal investigation of ex-President Donald Trump after his boss declined to lodge charges at the time said that if Trump “had been Joe Blow from Kokomo, we would have indicted without a big debate.” “I believe that Donald […]
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Mortgage demand drops to a 22-year low as higher interest rates and inflation crush homebuyers
The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications for a mortgage to purchase a home […]
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Marriott opens new Ritz Carlton in Manhattan as NYC tourism roars back
The Ritz-Carlton in the NoMad neighborhood of New York City. Seema Mody | CNBC Marriott next week will open a swanky new Ritz Carlton hotel in Manhattan, marking a bet on the surge in luxury travel and the hopeful return of business travelers this fall. “It’s got 10,000 square feet of meeting space, a 7,000-square-foot […]
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June home sales fall 5.4% from May, as prices set yet another record
A sign is posted in front of a home for sale on July 14, 2022 in San Francisco, California. Justin Sullivan | Getty Images Sales of previously owned homes in June fell 5.4% from May, according to a monthly report from the National Association of Realtors, as prices set records and rates surged. The sales […]
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Homebuilder sentiment plunges in July as buyers pull back
A contractor works on a new home under construction in Tucson, Arizona, U.S., on Tuesday, Feb. 22, 2022. Sales of new U.S. homes retreated in January after a flurry of purchases at the end of 2021, indicating a jump in mortgage rates may be starting to restrain demand. Rebecca Noble | Bloomberg | Getty Images […]
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Vegas home builder bets $32.5 million spec mansion will smash a local record in Southern California
Blue Heron’s cliffside spec house spans three levels in San Diego’s La Jolla neighborhood. Blue Heron This newly built cliff-side mansion overlooking the Pacific Ocean in Southern California comes with an ambitious $32.5 million asking price. It’s one of the most expensive homes for sale in San Diego County, and that price tag puts it […]
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These are the 10 cities seeing the most price cuts for homes
Daniel Acker | Bloomberg | Getty Images More home sellers are dropping their asking prices as rising mortgage interest rates and inflation have slowed down competition in the housing market. Some cities are seeing more price cuts than others. Boise, Idaho, took the lead in June, with 61.5% of sellers cutting their asking prices, according […]
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