Real estate
Crypto as currency: managing your financial life using digital coins
Many people have bought and sold cryptocurrencies as an investment, yet trying to live on a salary paid in crypto is tricky. Alyssa Howell spent much of her career in the gold-mining industry before joining a crypto-wallet company last fall that pays all of its employees in bitcoin. The Denver-area resident said learning the ins […]
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China cuts borrowing rate again, seeking to revive housing sector
High-rise buildings in downtown Shanghai, China, on March 12, 2018. China cut its benchmark reference rate for mortgages by an unexpectedly wide margin on Friday, its second cut this year as Beijing seeks to revive the ailing housing sector to prop up the economy. Johannes Eisele | Afp | Getty Images China cut its benchmark […]
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Reality TV shows based on real estate are ‘horrible’ for the industry, says brokerage CEO
A customer looks at listings on display outside a Brown Harris Stevens offices in New York. Brendan McDermid | Reuters The rise of reality TV shows featuring real estate has been “horrible” for the industry and the image of its brokers, a top brokerage CEO said Thursday. “This is not who we are,” said Bess […]
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How relocating Americans created new inflation hot spots
Americans moved around a lot over the past two years, and those destinations also now happen to have the highest inflation rates in the U.S. “We saw right away that inflation was highest in Phoenix and lowest in San Francisco,” Redfin deputy chief economist Taylor Marr told CNBC. The relationship between migration and inflation has […]
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Scared of getting a mortgage? A strategist reveals the 1990s gadget that gives her cause to be optimistic
Historic row houses in Columbia Heights neighborhood of Washington, D.C. amedved | iStock | Getty Images One strategist has told CNBC why she thinks it’s still a “relatively good environment” to borrow money, including mortgages, despite rising interest rates. Kristina Hooper, chief global market strategist at Invesco, told CNBC’s “Squawk Box Europe” on Friday that […]
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Here’s what Walmart, Target, Home Depot and Lowe’s tell us about the state of the American consumer
How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its […]
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Weekly mortgage demand from homebuyers tumbles 12%, as higher interest rates take their toll
A sign of a home for sale is pictured in Alhambra, California on May 4, 2022. Frederic J. Brown | AFP | Getty Images Mortgage rates actually fell slightly last week, but the damage has already been done to housing affordability. Both refinance and purchase loan demand dropped, pulling total mortgage application volume down 11% […]
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Homebuilder sentiment falls to 2-year low on declining demand and rising costs
Contractors work on concrete slabs in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Builder sentiment in the market for single-family homes fell sharply in May, as mortgage rates shot higher and building material costs showed no […]
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Home Depot raises full-year outlook after earnings beat, record first-quarter sales
Home Depot on Tuesday raised its full-year outlook after reporting strong quarterly earnings, fueled by the company’s strongest first-quarter sales on record. Shares of the company rose 4% in premarket trading. Here’s what Home Depot reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $4.09 […]
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Home affordability at 2007 bubble levels, but crash is unlikely: Blackstone’s Joe Zidle
A major Wall Street firm is drawing a striking parallel to the housing bubble. Blackstone’s Joe Zidle calls homes almost as unaffordable as the 2007 peak. Yet, he believes a crash is unlikely due to a major difference: Most owners aren’t using their homes like an ATM. “That caused so many people to go upside […]
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