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January 25, 2022

Real Estate

‘Double down’ on defense because stocks will plunge another 10%, Morgan Stanley’s Mike Wilson warns

CNBC
CNBC – For more and to sign up click here Investors may be playing with fire. According to Morgan Stanley’s Mike Wilson, the S&P 500 is vulnerable to a 10% plunge despite Monday’s late buying binge. He warns investors are dangerously downplaying a collision between a tightening Federal Reserve and......

Here’s why it’s so hard to buy a home right now

CNBC Real Estate
The past year may have been a wild ride for potential homebuyers, but reports indicate that the housing market in 2022 could be even more competitive. New listings are currently at a record low, according to Redfin and Zillow. In fact, at the end of 2021, there were 19.5% fewer......

Airbnb CEO says a future of flexible work and travel will give company a boost

CNBC Real Estate
Airbnb co-founder and CEO Brian Chesky told CNBC on Friday that a post-Covid pandemic future of flexible living and working arrangements will be a boon to the company. Chesky, who is on a nationwide tour of Airbnb stays in an effort to “improve the experience” for customers, said he expects......

More than 5 million borrowers just missed their chance to save on a mortgage refinance

CNBC Real Estate
jayk7 | Moment | Getty Images The number of borrowers who could benefit from a mortgage refinance just dropped dramatically thanks to fast-rising interest rates. The average rate on the 30-year fixed loan has jumped more than 50 basis points since the start of this year, cutting the number of......

December home sales drop 4.6%, as supply hits record low

CNBC Real Estate
A “Sold” sign stands outside a home following a snow fall in Geneseo, Illinois. Daniel Acker | Bloomberg | Getty Images Closed sales of previously owned homes in December fell 4.6% to a seasonally adjusted, annualized rate of 6.18 million units, according to the National Association of Realtors. Sales were......

Jobless claims jump to 286,000, the highest level since October

CNBC Real Estate
Jobless claims took an unexpected turn higher last week in a potential sign that the wintertime omicron surge was hitting the employment picture. Initial filings for the week ended Jan. 15 totaled 286,000, well above the Dow Jones estimate of 225,000 and a substantial gain from the previous week’s 231,000.......

Mortgage rates jump again, causing headaches for homebuyers

CNBC Real Estate
Potential home buyers walk past an ‘Open House’ sign displayed in the front yard of a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage hit 3.7% Tuesday morning, according to Mortgage News Daily. That is the......

Homebuilder confidence drops for the first time in four months, as inflation hits materials

CNBC Real Estate
Workers install roofing on an apartment complex under construction in Lehi, Utah, on Friday, Jan. 7, 2022. George Frey | Bloomberg | Getty Images Builders in the single-family housing market are facing growing expenses, which is causing a turnaround in sentiment to start the year. Builder confidence fell one point......

Despite work-from-home worries, Manhattan office real estate is doing just fine

NYPost
Steve Cuozzo It’s time to look beyond the end-of-days forecasts and focus on a counterintuitive truth — Big Apple companies that use the most office space are taking not less but more of it. Source – For more click here To Return to the Main Aggregate News Page – click......

Here are the top spots to shop for the winter vacation home of your dreams

CNBC Real Estate
A home in Breckenridge, Colorado. Michael Robinson | Corbis Documentary | Getty Images Ever since the Covid pandemic began almost two years ago, weary Americans hankering for a fun, but still safe, getaway have rejiggered their travel habits to jibe with the new normal. Domestic road trips, national park visits......

New York’s eviction ban expires Saturday. What renters need to know

CNBC Real Estate
Protesters hold signs during a protest against the expiration of an eviction moratorium in the Manhattan borough of New York City, January 14, 2022. Carlo Allegri | Reuters Throughout most of the pandemic, New Yorkers have been shielded from eviction thanks to a statewide moratorium on the proceedings. That protection......

Google expands London property empire with $1 billion office purchase

CNBC Real Estate
The Central St Giles building in London. DavorLovincic | iStock Unreleased | Getty Images Google has bought a colorful office space in London for $1 billion while it waits for building work on its heavily-delayed U.K. headquarters to be completed. The internet giant announced Friday that it has acquired all......

Manhattan rents were the highest ever for December

CNBC Real Estate
Apartment buildings on the Upper East Side neighborhood of New York. Victor J. Blue | Bloomberg | Getty Images Manhattan rents hit their highest level ever for a December as the supply of apartments plummeted and landlords started demanding double-digit increases. The average apartment rent in Manhattan hit $4,440 in......

Solar window start-up aims to turn skyscrapers into vertical solar farms with investment from major window manufacturer

CNBC Real Estate
Ubiquitous Energy solar energy capturing windows installed at Michigan State University. Courtesy of Ubiquitous Energy A material science start-up, Ubiquitous Energy, is raising tens of millions of dollars to turn windows into surfaces that capture solar energy. The California start-up announced on Tuesday it closed a $30 million funding round,......

Fear of even higher mortgage rates may be heating up winter homebuying

CNBC Real Estate
Mortgage rates have moved to their highest level in more than a year, and that may have potential homebuyers nervous that their affordability window is closing faster than expected. Home prices are still gaining, and winter is historically the slowest season for the housing market, but mortgage demand from buyers......

Here’s how to prepare if you want to buy a home in this competitive market

CNBC Real Estate
Brandon Bell | Getty Images Brace yourself for another competitive year in the housing market. Home sales are expected to grow 6.6% in 2022, a 16-year high, according to Realtor.com. The typical winter lull isn’t even necessarily happening. Home prices actually accelerated from November to December, said Danielle Hale, chief......

Amid rising prices, American families fall deeper in debt

CNBC Real Estate
Higher prices are already taking a toll. As consumers pay more for everything from groceries to gasoline, household income is failing to keep pace with a higher overall cost of living, according to recent reports. Over the past two years, median income fell 3% while the cost of living rose......

Shimao pushes back on media reports, says it’s in talks for property sales to help resolve debt crisis

CNBC Real Estate
An elderly couple walk past a sign in front of Shimao Tower, developed by Shimao Group Holdings Ltd., in Shanghai, China, on Saturday, Jan. 8, 2022. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese real estate developer Shimao Group Holdings pushed back Tuesday on reports of default and......

Mortgage rates just jumped again. Here’s what that means if you’re buying a home

CNBC Real Estate
A pedestrian walks by a Wells Fargo home mortgage office in San Francisco. Justin Sullivan | Getty Images If you’re in the market for a home and haven’t locked in a mortgage rate yet, that home just got more expensive.  The average rate on the popular 30-year mortgage hit 3.64%......

Is it too late to refinance? With mortgage rates on the rise, here are your options

CNBC Real Estate
For many homeowners, the pandemic offered an unprecedented opportunity to build wealth. Those opportunities still exist, even though they are getting harder to come by. Thanks to skyrocketing housing prices, the amount of home equity is at an all-time high. As of the third quarter of last year, homeowners held......

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