After being relentlessly told they should go to college for their entire lives, many Millennials are waking up to the reality that their student debt and poor job prospects prohibit them from purchasing homes. The Federal Reserve has done research that shows that student loan debt is preventing young Americans from purchasing homes. Josh Mitchell and Laura Kusisto report: The Federal Reserve has linked rising student debt to a drop in homeownership among young Americans and the flight of college graduates from rural areas, two big shifts that have helped reshape the U.S. economy. The … [Read more...]
Is Manhattan Real Estate the Canary in the Coal Mine?
November saw a big drop in Manhattan real estate prices. Prices for real estate fluctuate of course, but the drop was the biggest since February of 2009. Is it an anomaly, or a canary in a coal mine? Justina Vasquez reports on the price drop in Bloomberg, writing: Prospective Manhattan home buyers had plenty of options in November, and their wallets were thankful for it. The average price of condos, co-ops, townhouses and single-family homes on the market dropped 3.3 percent from a year earlier to $1.1 million, according to the November 2018 StreetEasy Market Reports released Wednesday. … [Read more...]
Are Canadian Home Prices About to Crash?
Canada's real estate market has been booming for years, but recently things have begun to turn. In October, Toronto's new home prices dropped the most in one month since 1996. Is this the start of a more protracted downturn or is Canada going to pull-off a soft-landing in housing? Greg Quinn reports on the market for Bloomberg: The housing market has moderated this year as federal rules made it harder to qualify for a mortgage. The Bank of Canada also raised its trend-setting interest rate five times between July 2017 and October of this year. New home prices were advancing at an annual pace … [Read more...]
House Prices are Also Prices
Inflation measures used to guide Fed policy should include housing prices. At The Financial Times, Alliance Bernstein Chief Economist Joseph Carson explains: The American economy has experienced many booms and busts in its history but, in the past two decades, the problems have been particularly acute in the asset markets. Both the 1990s dotcom equity bubble and the 2000s housing bubble saw large, persistent increases in asset prices. And each time, the economic tipping point came from sharp falls in asset prices and the abrupt changes in balance sheets on spending and investment … [Read more...]
Chinese Exiting U.S. Real Estate Market?
One thing that has propped up the U.S. real estate market since the financial crisis has been the willingness of foreign buyers, especially Chinese buyers, to purchase land and buildings in America. That trend could be reversing itself, however. Esther Fung reports in The Wall Street Journal: Chinese companies spent tens of billions of dollars on U.S. real estate in the years following the financial crisis, snapping up high-profile properties like the Waldorf Astoria and Baccarat Hotel in New York. But in the second quarter Chinese investors turned net sellers of U.S. real estate for the … [Read more...]
How to Play the Online Shopping Trend without Betting on Amazon
The shift toward online shopping is a formidable trend that shows few signs of slowing anytime soon, but outside of Amazon (which appears to be priced for perfection) there aren't a lot of good ways to gain exposure. JP Morgan's real estate arm has found one. The company is playing the ecommerce trend by investing in industrial real estate, but not the typical warehouses that Amazon and others use to store their goods. JP Morgan is buying freight-transportation properties. These are properties that are used to move, prepare, or sort goods for delivery. Think truck terminals and … [Read more...]
Escape NYC, Go to Margaritaville
One thing I’ll never forget about our trip to NYC this year was the credit card bill a few weeks later. NYC ain’t cheap. Don’t get me wrong, it was an awesome trip, but I’m hardly surprised by this article on plummeting luxury apartment sales. "When the luxury market slowdown began in 2016, brokers blamed it on political uncertainty.” reports the WSJ. "More recently they said buyers were hesitating because of federal tax changes that may increase the cost of home ownership and reduce the deductibility of New York’s relatively high tax burdens." Yes I'm disappointed to see that Jimmy … [Read more...]
A $35k House that Makes its Own Water, Grows Food, and Is Energy Self-Sufficient.
Bloomberg reports on micro houses that may provide a solution to the global housing shortage. The tiny 22-square-meter (237-square-foot) prototype, on display on United Nations Plaza, is designed for a family of four. It’s self-sustaining, producing drinkable water from the air, energy from the sun and food from a vertical vegetable garden embedded in the exterior walls. And at an expected price of about $35,000, it may provide an affordable answer to a global housing shortage. “In this climate, this home would produce enough food for a family of four for about 260 days” out of a year, … [Read more...]
The Richest Zip Code in America
You can only reach the richest zip-code in America by water taxi or ferry. It is Fisher Island, filled with athletes, models and business people, it sits off the coast near Miami as a beacon of exclusivity. Shelly Hagana and Wei Lu report in TIME that: The 216-acre island has diverse residents, representing over 50 nationalities and professions ranging from professional athletes and supermodels to executives and lawyers. The average income in Fisher Island, ZIP code 33109, was $2.5 million in 2015, according to a Bloomberg analysis of 2015 Internal Revenue Service data. That’s $1 million … [Read more...]
The Hamptons: Property Sales Slow in New York’s Playground
Ben Foldy tells readers of the Financial Times that in the Hamptons, an area of Long Island that serves as a vacation community for New York City's ultra-wealthy, property sales have slowed down. He writes: Second-quarter sales fell 12.8 per cent from 2017 levels, according to data prepared for Douglas Elliman by Miller Samuel Real Estate. The median price dropped 5.3 per cent to a $975,000, compared with $1.03m a year earlier. The spring selling season is usually the high point of the year in the Hamptons, so the drop is stoking concerns that the resort areas of Long Island’s south shore … [Read more...]
- « Previous Page
- 1
- …
- 10
- 11
- 12
- 13
- 14
- …
- 23
- Next Page »