Real Estate

Real Estate

Bundesbank sees property market slowdown but not a correction ahead

Germany’s central bank is predicting a slowdown but no significant correction in the country’s property market despite warnings of overvaluation, according to a report published Thursday. Claudia Buch, vice president of the Bundesbank, told CNBC’s Joumanna Bercetche: “We do see a slowdown in the price growth for residential real estate, but it’s not that the …

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Look inside a hi-tech parking spot that costs $300,000

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Hidden deep below some of New York City’s most luxurious apartment buildings is an exclusive world of futuristic parking spaces where high-end vehicles are parked and retrieved by robotic parking machines. CNBC’s Ray Parisi shows you what it’s like to drive a …

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NYC robotic parking systems cost luxury residents $300,000 per space

Hidden deep below some of New York City’s most luxurious apartment buildings is an exclusive world of futuristic parking spaces where high-end vehicles are parked and retrieved by robotic parking systems.  The high-tech spots are a rare amenity in the Big Apple, and if you want your car to occupy one of these VIP spaces …

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Mortgage demand rises as interest rates decline slightly

A home, available for sale, is shown on August 12, 2021 in Houston, Texas. Brandon Bell | Getty Images Mortgage applications rose 2.2% last week compared with the previous week, prompted by a slight decline in interest rates, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance applications, which are usually most sensitive to …

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Investor home purchases plunge 30% annually

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email CNBC’s Diana Olick joins ‘Squawk on the Street’ to discuss the impact of rising interest rates on home sale prices, drops in investor home purchases and what regions are seeing the biggest investor pullbacks. Source link

JPMorgan upgrades Toll Brothers, says homebuilder stock is cheap

Toll Brothers is trading at a sizeable discount to its peers and offers a favorable risk-reward outlook for investors looking to play the homebuilder sector, JPMorgan said Tuesday. Analyst Michael Rehaut upgraded the stock to overweight from neutral, noting it trades at a 0.95 current price-to-book ratio and estimates its 2023 multiple at 0.77. The …

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Barclays downgrades Williams-Sonoma and RH, warns of a weak housing cycle ahead

A weak housing cycle will hurt home furnishing retailers Williams-Sonoma and RH , according to Barclays. Analyst Adrienne Yih downgraded both stocks to equal weight from overweight. She also slashed her price targets on Williams-Sonoma and RH. “We are downgrading both WSM and RH on a weakening housing cycle that we believe will have a …

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China property stocks surged. Analyst warns of high expectations, weak reality

China’s housing prices fell in October due primarily to falling prices in less developed, so-called Tier-3 cities, according to Goldman Sachs analysis of official data. Future Publishing | Future Publishing | Getty Images BEIJING — China’s real estate sector isn’t yet poised for a quick recovery, despite a rally this month in stocks of major …

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How to afford a mortgage as interest rates and home prices rise

It’s no secret that it’s a tough market for prospective home buyers. In October, U.S. buyers needed to earn $107,281 to afford the median monthly mortgage payment of $2,682 for a “typical home,” Redfin reported this week.  That’s 45.6% higher than the $73,668 yearly income needed to cover the median mortgage payment 12 months ago, …

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Rising rates pushing out potential homeowners

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email CNBC’s Diana Olick joins ‘Power Lunch’ to discuss the impact of rising intrest rates on home affordability, the causes of buyer pullback in the housing market and the compound effect of high home prices and high mortgage rates. Source link

Housing starts fall 4.2% in October vs. 2% estimate

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email CNBC’s Rick Santelli, Steve Liesman and Diana Olick join ‘Squawk Box’ to discuss the latest weekly initial jobless claims and October housing starts data. Source link

20% housing correction is coming, says Peter Boockvar

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Bleakley Advisors’ Peter Boockvar agrees with the Dallas Fed’s warning about the state of the housing market and warns that a 20 percent correction is coming. With CNBC’s Melissa Lee and the Fast Money traders, Karen Finerman, Dan Nathan, Guy Adami and …

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Which states have had the most major climate disasters since 2011?

Ninety percent of counties across the U.S. have experienced a flood, wildfire, hurricane or other federally declared climate disaster between 2011 and 2021, according to a report published Wednesday that calls for urgent investment in climate adaptation and hazard mitigation. During that same period, 29 states on average endured at least one federally declared disaster, according …

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Home Depot and Lowe’s are booming in a housing market bust

A home improvement contractor works on a house in Cambridge, Massachusetts. Suzanne Kreiter | The Boston Globe | Getty Images As the U.S. housing market falls hard from its pandemic-driven highs, home improvement retailers like Home Depot and Lowe’s don’t seem to be feeling the same pain. In fact, they’re faring better than expected. While …

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Four-day workweek is new standard for 40% of companies, EY study finds

A man walks on Wall St. during the morning commute, as the city deals with record temperatures and the excessive heat, in New York, July 20, 2022. Brendan McDermid | Reuters A cooling economy, rising mortgage rates and mass layoffs have done little to dampen executive demand for expanded office presence and increased flexibility for …

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Homebuilder sentiment falls for 11 months straight

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email CNBC’s Diana Olick joins ‘Squawk on the Street’ to report on the continued drop in homebuilder sentiment numbers, highlighting regional trends and the increased construction cost. Source link

Raymond James downgrades Home Depot, says there are challenges ahead despite solid earnings report

Hold off on Home Depot for now, according to Raymond James. Analyst Bobby Griffin downgraded shares of Home Depot to market perform from outperform, foreseeing challenges next year for the housing sector. “Our change in opinion is not a reflection of Home Depot’s execution (has been solid), but more so our view that the risk/reward …

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UK property market at risk of major downturn as recession fears loom

Economists are predicting that soaring interest rates and falling prices will mark the end of the U.K.’s 13-year housing market boom, potentially leading to a house price crash. Matt Cardy | Getty Images News | Getty Images LONDON — The U.K. property market may be verging on a major downturn, with some market watchers warning …

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Trump Org gets independent monitor to oversee financial reporting

The public entrance to Trump Tower on Fifth Avenue in New York. Robert Alexander | Archive Photos | Getty Images A New York court Monday appointed retired Judge Barbara Jones to oversee some of the Trump Organization’s financial statements as part of a lawsuit alleging widespread fraud by former President Donald Trump, his businesses and …

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Here’s why it may take a while for housing inflation to cool off

An ‘open house’ flag is displayed outside a single family home on September 22, 2022 in Los Angeles, California. Allison Dinner | Getty Images There are signs inflation may fall further in coming months, but housing threatens to mute any improvement. The consumer price index, a key barometer of inflation, rose 7.7% in October from …

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Inflation expectations rebound on record-high jump in gas outlook: NY Fed survey

A Sheetz customer gets gasoline at a gas station in Plains, Pennsylvania, U.S. October 19, 2022.  Aimee Dilger | Reuters Americans grew more worried about inflation in the October, with fears emanating from an expected burst in gasoline prices, a Federal Reserve survey showed Monday. Inflation expectations for the year ahead rose to 5.9%, up …

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Look inside only large-scale 3D printed housing development in U.S.

It looks more like a project at NASA than a home construction site. Just outside Austin, Texas, massive machines are squeezing out 100 three- and four-bedroom homes, in the first major housing development to be 3D-printed on site. One of the nation’s largest homebuilders, Lennar, is partnering with ICON, a 3D printing company, to develop …

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Here’s the inflation breakdown for October 2022 — in one chart

People shop for bread at a supermarket in Monterey Park, California on Oct. 19, 2022. Frederic J. Brown | Afp | Getty Images Inflation was cooler than expected in October, although household staples like shelter, food and energy remained among the largest contributors to consumer prices still rising at a historically fast pace, the U.S. …

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High-end luxury rental prices are astronomical, says Douglas Elliman’s Lorber

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Howard Lorber, Douglas Elliman executive chairman, joins ‘Closing Bell’ to discuss how much the real estate market is being pressured by rising interest rates, when rents will begin to come down and insights into both the New York and Florida real estate …

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How to plan your support systems if you want to ‘age in place’ at home

Ridofranz | Istock | Getty Images We adamantly want to age in place, say experts. A recent AARP report shows that 85% of respondents 65 or older wish to stay in their current residences as long as possible. Retirement-focused financial advisors can help with both the financial and non-financial preparations to do so. “We’re often …

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Weekly mortgage demand flattens, as interest rates climb even higher

A man enters a Bank of America branch in New York. Scott Mlyn | CNBC Mortgage rates rose again last week, throwing even more cold water on demand from both current homeowners and potential homebuyers. Weekly application volume fell 0.1% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. …

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Homeowners lost $1.5 trillion in equity since May, as home prices drop

A home awaits sale at a reduced asking price in Glendale, California. David McNew | Getty Images The historic run-up in home prices during the first two years of the pandemic gave homeowners record amounts of new home equity. Since May, however, about $1.5 trillion of that has vanished, according to Black Knight, a mortgage …

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Companies still have way too much office space, and they can’t sell it

Collin Madden, founding partner of GEM Real Estate Partners, walks through empty office space in a building they own that is up for sale in the South Lake Union neighborhood in Seattle, Washington, May 14, 2021. Karen Ducey | Reuters A few things we know about corporate real estate: it’s a focus of cost-cutting for …

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Housing inventory spikes as homes remain on the market longer

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email CNBC’s Diana Olick joins ‘Squawk on the Street’ to discuss U.S. home inventories rising as home sales remain on the market longer, data revealing that 20% of active home listings are seeing price cuts, and mortgage rate increases adding a median of …

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