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Real Estate
Detroit real estate developers rebuild city amid budget shortfalls
A new wave of development is rippling through downtown Detroit."Walking around Detroit in 2008 or 2009 is not the same as walking around in 2022," said Ramy Habib, a local entrepreneur. "It is absolutely magnificent what happened…
China’s economy could be dragged down by loss of confidence in property
The loss of confidence in China's property sector could feed into a contagion that would further drag down the Chinese economy, analysts warned.The comments come after beleaguered developer China Evergrande Group failed to deliver a…
Mortgage applications inch up for the first time in five weeks
People wait to visit a house for sale in Floral Park, Nassau County, New York, the United States, on Sept. 6, 2020.Wany Ying | Xinhua News Agency | Getty ImagesMortgage applications inched up last week for the first time since June 24.…
Rent prices are soaring in these 5 metros. What to know before moving
Los AngelesRon_Thomas | Getty ImagesAs rising interest rates and surging property values prevent more families from buying a home, the demand for rentals has soared, with the highest rent prices in the sunniest states. Rent prices for…
CapitaLand Investment says investments slowing amid economic red flags
Real estate investors are now being "careful and prudent" about deploying capital in the face of growing economic uncertainty around the world, said leading Singaporean property investment manager CapitaLand Investment. Its half-year…
South, Midwest will see worst increases in extreme heat by 2053
A pedestrian uses an umbrella to get some relief from the sun as she walks past a sign displaying the temperature on June 20, 2017 in Phoenix, Arizona.Ralph Freso | Getty ImagesHeat records are falling around the world this summer, and…
Where companies say they will cut budgets first in a softer economy
monkeybusinessimages | iStock | Getty ImagesIt's no secret that companies are reducing their real estate footprint. Even companies still committed to in-office work, but embracing a hybrid model, require less square footage and more use…
A ‘shakeout’ among mortgage lenders is coming
A sign hangs from a branch of Banco Santander in London, U.K., on Wednesday, Feb. 3, 2010.Simon Dawson | Bloomberg via Getty ImagesBanks and other mortgage providers have been battered by plunging demand for loans this year, a…
Mortgage rates fall sharply after negative GDP report and Fed’s latest hike
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower.The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, when the Fed announced its…
Consumer confidence in housing market hits lowest in over a decade
A sign stands outside an upscale home for sale in the Lake Pointe Subdivision of Austin, Texas.Ed Lallo | Bloomberg | Getty ImagesConsumer confidence in the housing market dropped to the lowest level since 2011, as both prospective…