A “For Sale” sign in front of a home in Albany, Calif., on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Some homeowners are losing their wealth as high mortgage rates weigh on home values, at least on paper, as the once-hot housing market cools rapidly. Sales have been slowing for … Read more
CNN — Wading through thigh-deep water, dozens of nursing home residents clung to a rope stretched across a flooded parking lot on Wednesday as they were evacuated from a Mississippi nursing home. Residents, aided by firefighters, volunteers and state troopers, passed submerged cars as they departed by school bus from the Peach Tree Village assisted … Read more
U.S. stocks traded mixed midday on Thursday, with the S&P 500 and Nasdaq Composite heading for back-to-back gains after a string of strong economic data as investors awaited news from Federal Reserve Chairman Jerome Powell. How Stocks Trade S&P500 SPX rose 18 points, or 0.4%, to 4,158. Dow Jones Industrial Average DJIA lost 3 points, … Read more
U.S. stocks rose on Thursday, with major benchmarks heading for back-to-back gains after a string of strong economic data as investors awaited news from Federal Reserve Chairman Jerome Powell. How Stocks Trade S&P500 SPX rose 18 points, or 0.6%, to 4,163. Dow Jones Industrial Average DJIA advanced 22 points, or 0.1%, to 32,984. Nasdaq Compound … Read more
The Federal Reserve’s policy tightening has sent the US housing market into a slump – and policymakers have yet to fully recognize the scale of the problems, according to a leading economist. Ian Shepherdson, chief economist at Pantheon Macroeconomics, provided a bearish outlook for homeowners after federal data showed sales of new single-family homes bottomed … Read more
An aerial view from a drone shows homes in a neighborhood on January 26, 2021 in Miramar, Florida. According to two separate indexes, prices for existing homes have reached their highest level in 6 years. Joe Raedle | Getty Images Home prices fell 0.77% from June to July, the first monthly decline in nearly three … Read more
An apartment for rent sign seen on the Upper East Side of Manhattan. Adam Jeffrey | CNBC Apartment rent growth appears to have peaked after a terrific run in 2021, and that could boost some of the real estate stocks that were early darlings of the pandemic. Nationally, rents rose just 0.8% between June and … Read more
Landlords in markets that boomed when the real estate sector was hot during the COVID-19 pandemic are now being forced to cut prices due to falling demand, according to data released Monday by Redfin. Salt Lake City is among the most overheated markets.Getty Images In the United States, 21% of home sellers lowered their asking … Read more
Landlords in markets that boomed when the real estate sector was hot during the COVID-19 pandemic are now being forced to cut prices due to falling demand, according to data released Monday by Redfin. In the United States, 21% of home sellers lowered their asking prices in July – the highest share since Redfin started … Read more
Looks like it’s the ultimate weekend – when Ben Affleck plays Rhett Butler against Jennifer Lopez’s Scarlett O’Hara. Although both are already marriedtheir ceremony will officially take place at the actor’s longtime home in Georgia, described as “a remarkable recreation of a southern antebellum Greek Revival-style plantation home.” And my, how things have come full … Read more
