In recent years, the housing market has undergone significant changes, particularly in terms of mortgage rates. The 30-year mortgage rate, a common option for home buyers, has been a key factor in shaping the market. With rates hovering around 7%, which is significantly higher than the sub-3% rates seen in the early days of the
Real Estate
Step inside the luxurious $60 million dollar mansion located in Delray Beach, Florida, known as Mar Pietra. This impressive estate spans over 23,000 square feet and exudes old-school Italian charm with its limestone-clad exterior, featuring 300 stone columns and vaulted ceilings. However, what truly sets this property apart is its hidden subterranean space, which boasts
Land subsidence is becoming a major issue in many U.S. cities such as New Orleans, New York City, Miami, and south San Francisco. This phenomenon has the potential to severely impact the integrity of buildings and infrastructure within these urban areas. Additionally, when combined with rising sea levels, land subsidence can significantly increase the risk
It is no secret that the high cost of living has made it increasingly difficult for young adults to achieve financial independence. A recent report from Bank of America revealed that 46% of Gen Zers between the ages of 18 and 27 rely on financial assistance from their families. This dependency on parents highlights the
The real estate market in San Francisco has been facing significant challenges, with the vacancy rate for office space reaching a fresh record of 34.5% in the second quarter. This is up from previous quarters and years, signaling a broader struggle across the market. The average asking rent has also dropped considerably, further indicating the
The pandemic brought about a surge in home improvement projects, with swimming pool installations being a popular choice among American households. However, recent data suggests that the demand for new pool construction is on the decline. Pool Corp., a major player in the pool equipment distribution industry, anticipates a significant drop in new pool installations
The real estate market is currently experiencing a significant decline, with real estate being the only group in the S & P 500 that has fallen in 2024, dropping by 4.7%. There is a great deal of uncertainty surrounding the commercial real estate (CRE) market, particularly in relation to interest rates and the refinancing of
Manhattan’s real estate market is currently experiencing a shift towards becoming a buyer’s market. Recent reports have indicated that apartment prices in Manhattan have fallen, while inventory has risen in the second quarter of 2024. These changes have led to a decrease in the average real estate sales price in Manhattan by 3% to slightly
As we navigate through the real estate market in the midst of ongoing economic shifts, it is becoming evident that the heat surrounding home prices is beginning to dissipate. Recent reports indicate a decrease in the rate of price gains, hinting at a potential slowdown in the previously booming housing sector. While prices are still
As the spring housing market concludes and the summer season begins, the challenges in the housing market show no signs of abating. Despite high home prices continuing to climb, mortgage rates remaining elevated, and limited increase in home listings, the state of the housing market remains lackluster. This is evidenced by the stagnant weekly mortgage