In testimony before Congress Tuesday, Fed Chair Powell said the economy is “stronger than expected” and the “ultimate level of interest rates is likely to be higher.” WASHINGTON (AP) – The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues … Read more
A scam converts Airbnb listings into discounted “Home for sale” ads targeting first-time buyers. If a buyer asks to tour the home, the scammer rents it for a day to do so. PORTLAND, Ore. – Airbnb hosts in Oregon are warning of a new scam, saying that some guests could be using local Airbnb properties … Read more
The pandemic cut the number of foreign buyers traveling to the U.S., but the first wave is reappearing. A Miami condo has seen a 30% increase in Brazilian buyers. NEW YORK – Real estate insiders say they’ve seen a resurgence in foreign buyers to the U.S. market after the pandemic made them virtually nonexistent. Levels … Read more
The S&P CoreLogic Case-Shiller index showed a 5.8% annual gain in home prices for Dec., down from 7.6% through the 12-month period ending in Nov. NEW YORK – The prospects for a weakening U.S. economy and higher interest rates suggest that the average price increase for a home is likely to continue to slow after … Read more
Jan. median rent rose 2.4% year-to-year – the lowest increase since summer 2021 – since topping out at an almost 18% year-to-year increase last March. LOS ANGELES (AP) – The cost of renting an apartment is easing after skyrocketing in recent years, though it remains painfully high for many Americans. The U.S. median rent rose … Read more
Recent economic reports suggest inflation isn’t yet under control, and the Fed says it may have to increase interest rates more than it expected a few weeks ago. WASHINGTON (AP) – A run of strong economic data and signs that inflation remains stubbornly high could lead the Federal Reserve to raise its benchmark rate higher … Read more
The Chinese gov’t cracked down and lots of developer defaults in mid-2021 threatened world financial markets. But the crisis appears to have passed. BEIJING (AP) – China’s vast real estate industry is recovering from a slump triggered by tighter debt controls, a deputy central bank governor said Friday, after a wave of defaults by developers … Read more
Buyers are more focused on a home’s asking price in the face of higher interest rates. In a sellers’ market, pricing too high may work. Now it might be a deal breaker. ©Florida Realtors® Source link
Residents of communities that require hurricane-resistant homes get a break on the cost of flood ins., but does it lower FEMA’s overall costs? A study says yes. WASHINGTON – The Federal Emergency Management Agency’s (FEMA) Community Rating System (CRS) provides financial incentives to communities that mitigate against storm damage, essentially, “We’ll charge you less for … Read more
WASHINGTON – The United States is ratcheting up national security concerns about TikTok, mandating that all federal employees delete the Chinese-owned social media app from government-issued mobile phones. Other Western governments are pursuing similar bans, citing espionage fears. So how serious is the threat? And should TikTok users who don’t work for the government be worried … Read more
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