Real Estate

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A staggering 330 million urban households around the world live in substandard housing or are so financially stretched by housing costs they forgo other basic needs like food and health care, according to McKinsey. Urban dwellers globally fork out $650 billion more per year on housing than they can afford, or around 1 percent of …

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File photo of a home for sale in Phoenix, Arizona.

First came a historic national crash in home prices, then a surprisingly sharp jolt off the bottom. Investors, desperate for yield and fueled by Fed-induced cheap cash, swarmed the most distressed housing markets, buying bargain-basement properties and turning them into rentals. Some markets saw double-digit annual price appreciation. Some analysts started to float the word …

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Downtown Los Agneles

Los Angeles may be filled with stars, but right now its housing market isn’t one of them. After benefiting from robust investor interest for the past few years, home sales and prices are beginning to deflate. It is now taking significantly longer for sellers to get a contract. “The real estate market in Los Angeles …

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More proof that low mortgage rates are not the key to home ownership: Rates dropped to their lowest level in nearly 18 months last week, causing an 11.6 percent rise in applications, the Mortgage Bankers Association reported Wednesday. The gains, however, were driven entirely by refinances, just as they have been for several weeks. Refinance …

Existing home sales rise in September

Existing home sales rose in September, but the picture this month might not be as pretty.

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After jumping to the highest level in nine years last month, confidence among U.S. home builders took a sharp U-turn in October. While still in the positive range, builder sentiment fell 5 points to a level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index. Fifty is the line between positive …

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Falling Treasury yields are pushing mortgage rates to lows not seen in over a year. With the rate on the 30-year fixed mortgage falling below the psychologically significant 4 percent level, phones were ringing at lender shops large and small on Wednesday. Should you be calling? CNBC’s Diana Olick asked Matt Weaver, vice president of …

Every day, 21,000 of them sail into U.S. ports, carrying everything from tea to T-shirts, but just a fraction ever go back. Shipping containers. Strong, durable and eminently recyclable. An estimated 700,000 are sitting near the nation’s waterfronts, unused, wasting shipyard space and littering landfills. It all presents an incredible opportunity for developers of environmentally …

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The upside to the selloff in stock markets is lower interest rates for the housing market. A drop in rates last week boosted mortgage applications for both refinances and home purchases, and interest rates continues to slide. Total mortgage application volume for the week ending October 3rd rose 3.8 percent on a seasonally adjusted basis from …

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The headline for much of this year has been that home price gains are easing. Prices are still higher compared to last year, but not nearly as much as they had been. Now, suddenly, it looks as if home values could actually go negative on a national level. “That will be the first time collectively, …

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The Waldorf Astoria hotel in New York.

The hotel famously called “the greatest of them all” is now the most expensive of them all. Hilton Worldwide Holdings said it’s selling the famed Waldorf Astoria hotel in New York for $1.95 billion to China-based buyer Anbang Insurance Group. The price makes the Waldorf the most expensive single hotel ever sold in the U.S., according …

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With home prices still rising and fewer distressed properties coming to market, some claim the single-family rental trade is over. Investors will hold the homes they have and securitize the assets in order to leverage their investments, but they won’t buy any more. “There is very little institutional buying at the present time, as prices …

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Married with Condo, Ashley and Ken Wetzel

Millennials don’t buy houses. They are urban, mobile, risk-averse and saddled with student debt. Homeownership is about as enticing to them as a phone with a cord. Millennials are considered “generation rent.” “Young people today seem to have a less warm attitude toward housing. I don’t know why, I’m not one of them,” said Robert …

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Call it the housing bubble 2.0. While real estate in much of the country is hitting a slow patch, luxury home sales in Silicon Valley are soaring nearly as fast as Facebook stock. Sales of homes in San Jose, California, priced at $1 million or more jumped 76 percent in 12 months ended in July, according to …

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Fewer listings and an exodus of investors weakened home sales in August. The number of signed contracts to buy existing homes fell 1 percent in August compared to July and is down 2.2 percent from August of 2013, according to the National Association of Realtors. Analysts had been expecting these so-called pending home sales, a …