In September 2023, the U.S. real estate market took a notable downturn, with sales of previously owned homes declining by 1% compared to August. The National Association of Realtors reports an annualized rate of 3.84 million unit sales, marking the slowest pace recorded since October 2010. The year-over-year comparison isn’t encouraging either, as it reflects
Real Estate
The journey to buying a home is one that many people dream about, often envisioning their perfect space where memories will be created. However, the decision to purchase a home is not merely about finding the right property; it is fundamentally a significant long-term financial commitment that can affect your future in various ways. According
Hong Kong has long been notorious for its exorbitant housing prices, making it the least affordable city to live in for over a decade, according to the 2024 Demographia International Housing Affordability report. The crux of the issue lies not only in the high prices but also in the increasing difficulty faced by young people
The commercial real estate (CRE) sector is at a critical junction, marked by recent changes in monetary policy that may catalyze a significant recovery. In September 2023, the Federal Reserve embarked on an interest rate cutting initiative for the first time since 2020, decreasing the federal funds rate by 50 basis points. This move not
The current landscape of China’s real estate sector is marked by significant turbulence, yet recent interventions by the government signal an intent to stabilize and rejuvenate this crucial segment of the economy. The announcement that China plans to expand its “whitelist” of eligible real estate projects and enhance bank lending to these sectors is a
In a noteworthy shift in the housing market, mortgage interest rates have climbed for three consecutive weeks, reaching their highest levels since August. This spike in rates has prompted a noticeable decline in demand from both existing homeowners and prospective buyers. The Mortgage Bankers Association reported a staggering 17% decrease in total mortgage application volume
Japan faces a unique housing crisis that stands in stark contrast to the issues seen in many other countries. While other nations grapple with severe housing shortages, Japan has an overwhelming surplus of abandoned properties known as “akiyas.” As of 2023, there are approximately 9 million akiyas scattered across the nation, a relic of the
The landscape of mortgage rates has shifted notably in recent weeks, marked by a continual decline. The average contract interest rate for 30-year fixed-rate mortgages, particularly for conforming loan balances (those at $766,550 or lower), decreased to 6.29% from 6.43%. This change, reported by the Mortgage Bankers Association, signifies a noteworthy drop to its lowest
The United States is witnessing a significant reduction in inflation rates as of August, marking a potential shift in the economic landscape. The consumer price index (CPI), an essential indicator that tracks the changing prices across the economy, recorded a modest 2.5% increase compared to the previous year. This figure, descending from 2.9% in July,
The Chinese real estate market, historically a cornerstone of the nation’s economy, has recently faced significant challenges following stringent measures placed on developers and home buyers. However, recent policy changes in major cities illustrate a multifaceted strategy to revive this crucial sector. This article delves into the latest developments in property regulations and their implications