The ongoing turmoil in China’s property market has raised red flags for Standard Chartered CEO Bill Winters. In an interview with CNBC’s JP Ong, Winters expressed his concerns regarding the challenges in the investing environment in China. He highlighted that consumer confidence and international investor confidence were both relatively low, pointing to the property market
Real Estate
As the Federal Reserve prepares for its upcoming meeting, there is a growing debate over the need for an interest rate cut in order to address inflation concerns. Nobel Prize-winning economist Joseph Stiglitz is among those advocating for a significant reduction in interest rates, arguing that the Fed has been too aggressive in its monetary
The real estate market is currently experiencing a shift as the supply of homes for sale is on the rise. According to a recent report from Realtor.com, active listings in August saw a 36% increase compared to the same month last year. This marks the 10th consecutive month of annual growth in supply. However, despite
In recent times, London landlords have been selling their buy-to-let properties at an unprecedented rate due to anticipated tax hikes proposed by the U.K. Labour government. Data from property portal Rightmove indicates that almost one-third (29%) of homes currently for sale in the capital were previously rented out. This trend is not isolated to London,
In recent weeks, mortgage demand has seen a sharp shift towards refinancing, driven by a continuous decline in interest rates. According to the Mortgage Bankers Association’s latest report, total mortgage application volume saw a modest increase of just 1.6% last week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances has
China’s housing market continues to face difficulties despite numerous attempts by the government to provide stimulus and support. According to Haibin Zhu, chief China economist at JPMorgan, the housing market crash is far from over, with stabilization not expected until 2025 at the earliest. Recent data released by China Index Academy shows that new home
REA Group, a property listings company owned by Rupert Murdoch’s News Corp, has announced its consideration of a potential takeover offer for the U.K. property portal Rightmove. This move aims to establish a global digital real estate business and has sparked significant market interest. Following the announcement, shares of Rightmove experienced a notable 25% increase
Despite the increase in mortgage interest rates, home prices have soared to their highest levels ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. According to recent data released, there was a 5.4% increase nationally in home prices on a three-month running average ending in June compared to the same period in 2023.
The traditional concept of ownership is evolving rapidly in today’s society. More and more Americans are opting to rent various items, ranging from cars and apartments to clothing and furniture. A report by Intuit Credit Karma reveals a significant shift towards a “rent-first” lifestyle, with 28% of adults regularly choosing to rent goods and services.
Manhattan, New York is notorious for its exorbitantly high real estate prices, with the median price per square foot reaching $1,500 according to My Dolce Casa. The city consistently ranks as one of the most expensive places to reside in worldwide. As a result, purchasing a modest 500-square-foot condo in New York City can set