As New York City goes, so goes urban centers across the U.S., according to Ryan Schneider, chief executive of Realogy Holdings. The coronavirus pandemic has pushed city dwellers and potential homebuyers to flee dense areas like New York and parts of California for suburban locations as Americans spend more time at home than before. While
California has the highest rent gap to close in order to keep cost-burdened tenants housed in the … [+] next six months, according to an analysis by UrbanFootprint. Getty As housing advocates across the U.S. brace for what they predict to be a spike in evictions this summer, when government protections are set to fade
The student housing industry has been hard at work planning for the fall. Getty With the fall semester approaching, student housing owners and operators are taking unprecedented precautions to ensure students return to a safe and productive environment. Students are likely to find transformed spaces in on-campus housing and new normals as they start or
Homebuilder Taylor Morrison posted record sales last month and saw the best output come from coronavirus hot-spot states, CEO Sheryl Palmer told CNBC on Wednesday. Home sales for the company nearly doubled in the month of June. “We have seen, if you think about the states that I think have gotten, you know, the most
The coronavirus pandemic is pushing businesses and dwellers out of city centers and downtowns into the outskirts in the short term, but demand can be expected to return to big cities, according to the head of the largest commercial real estate broker in the country. Hessam Nadji, president and CEO of Marcus & Millichap, on
There’s been a lot of analysis and debate on exactly where the stock market is headed in the post-COVID-19 environment. But much less attention has been focused on the housing market. Or more precisely, on whether now is the right time to buy a house. Getty On the plus side, house prices have held steady
A pedestrian wearing a protective mask walks past some Retail Space For Lease in San Francisco, … [+] California, U.S., on May 6, 2020. Emptied out malls and hotels across the U.S. have triggered an unprecedented surge in requests for payment relief on commercial mortgage-backed securities, an early sign of a pandemic-induced real estate crisis.
Pedestrians walk past commercial real estate in Manhattan. Michael Nagle | Bloomberg | Getty Images Delinquencies in commercial mortgage-backed securities last month had their largest one-month surge since Fitch Ratings began tracking the metric nearly 16 years ago. The delinquency rate hit 3.59% in June, an increase from 1.46% in May. New delinquencies totaled $10.8
Rent payment assistance will help both renters and their landlords, says Bob Pinnegar, president and … [+] CEO of the National Apartment Association. Eviction moratoriums, though, may not be as effective. Getty As the economy continues to wobble due to the coronavirus pandemic, while policy proposals diverge on how to prop it back up, July
Brendan McDermid | Reuters Direction requests Requests for transit directions on Apple Maps are still nowhere near pre-pandemic levels, according to data from the navigation app. However, driving and walking direction requests have surged from their low points during the early stages of the outbreak. Travelers may be more inclined to driving and walking rather
People are traveling less this year and many cities are canceling public fireworks festivities because of the Covid-19 pandemic, but that doesn’t mean you can’t have a fun Fourth of July weekend. You’ll just be doing it at home with members of your own household. On the plus side, this lower-key celebration may give you extra
Tourists pass by a homeless man sitting on Hollywood Blvd, Hollywood, California on June 12, 2020. Mark Ralston | AFP | Getty Images Eviction moratoriums nationwide are set to expire later this month, potentially thrusting tens of thousands of people into a housing crisis. Congress in March passed a federal mandate prohibiting evictions or foreclosures
Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S., on Monday, May 11, 2020. Andrew Harrer | Bloomberg | Getty Images The number of borrowers in government and private sector coronavirus-related mortgage bailouts just fell by the largest weekly volume since these plans were put in place. There are, however, warning signs that
2-8a Rutland Gate in Knightsbridge was bought by a Hong Kong investor for $264 million Beauchamp Estates London’s prime housing market is seeing strong interest from Hong Kong and mainland Chinese buyers, with real estate agents reporting above-average levels of investment. London-based estate agency Beauchamp Estates reports that over the past 6 months it has sold
Aerial view of the home of Ghislaine Maxwell in Bradford, New Hampshire. NBC News Ghislaine Maxwell, the accused procurer for dead convicted sex criminal Jeffrey Epstein, was arrested Thursday at a New Hampshire home purchased for $1 million last December by a “legal entity” The entity was created after the homeowner’s real estate agent balked
Startup Lyric is shutting down most of its business travel rental locations as its cofounder and … [+] president steps down. Getty Lyric, a short-term rental startup that raised $180 million from Airbnb and other investors, has shuttered all but one of its locations, making it the latest travel company to be defeated by the
Focqus, LLC | iStock | Getty Images New monthly data from apartment rental platform Zumper shows San Francisco rents were down nearly 12% year over year in June, making the city’s decline the largest in the nation, and a record slide for San Francisco. It’s also the second consecutive month San Francisco rental prices have
This has been a period like no other in the past century. We will have to wait through the third … [+] quarter to see its actual ongoing impact on residential, retail, and commercial prices, but one thing seems certain. How we use the built spaces around us will never be quite the same again.
Palisades Park In Santa Monica overlooks the Pacific Ocean Getty Here’s are some of the least expensive homes for sale in the most expensive ZIP codes. Savvy buyers often trade off a smaller home sometimes on a main street to live in a desirable neighborhood. The problem today is finding those homes is a challenge.
ROBERTO SCHMIDT It’s impossible to think about racial injustice in the U.S. without looking at the distribution of dollars. In many ways that Americans work to establish themselves financially — through the stock market, net worth and homeownership — Black families trail White families. “To put it simply, we don’t have a level playing field,” said Evelyn Brodkin, an
Pending sale realtor sign Daniel Acker | Bloomberg | Getty Images Pending home sales spiked a stunning 44.3% in May compared with April, according to the National Association of Realtors. That is the largest one-month jump in the history of the survey, which dates back to 2001. It beat expectations of a 15% gain. Sales
Mezzanine loans are often the riskiest piece of the real estate capital stack. These lenders will suffer the first loss if the value of the collateral goes down. If the loan defaults, they also have the fastest enforcement tool in the foreclosure tool shed: the ability to hold a Uniform Commercial Code foreclosure sale, a
A passenger walks through Reagan National airport as the novel coronavirus (COVID-19) pandemic continues to keep airline travel at minimal levels and the U.S. economy contracts in the first quarter at its sharpest pace since the Great Recession, in Washington, April 29, 2020. Kevin Lamarque | Reuters Direction requests Data from navigation tool Apple maps
Call it what you will. The Covid-19 pandemic. The Great Lockdown. The Coronavirus Recession. Whatever label you give it, it remains unprecedented. Never in history has more than 60 percent of the global population come under this kind of lock-and-key restrictions all at once. The effects of the shutdowns range country to country. But in
Palm Springs’ luxury market is seeing increased activity Getty Here’s the luxury housing market update from realtor.com. The latest numbers tell a positive story according to Javier Vivas, realtor.com’s director of research. “I was surprised when I saw the data telling us luxury buyers are back in full force.” As stock market volatility continues Vivas,
A woman walks past the U.S. Capitol building in Washington, June 25, 2020. Al Drego | Reuters After declining for three weeks, the number of borrowers delaying their monthly mortgage payments due to the coronavirus rose sharply once again. The number of active forbearance plans rose by 79,000 in the past week, erasing roughly half
MOUNTAIN VIEW, CA – DECEMBER 03: Actors Ashton Kutcher (L) and Mila Kunis attend the 2018 … [+] Breakthrough Prize at NASA Ames Research Center on December 3, 2017 in Mountain View, California. (Photo by C Flanigan/FilmMagic) FilmMagic The first home Ashton Kutcher and Mila Kunis bought together is now for sale asking $13.99 million
Families are moving to Napa Valley as alternative to urban living Getty The Napa Valley real estate market is booming with multiple offers and bidding wars. Bay area families looking to escape the realities of urban living during a pandemic are fueling the market. Listen to Compass California President Mark McLaughlin on the market dynamics.
Contractors work on a home extension on March 26, 2020 in Old Bethpage, New York. Bruce Bennett | Getty Images Sales of newly built homes jumped far more than expected, up nearly 13% annually, according to the U.S. Census. After slowing dramatically in March, as the coronavirus shut down the economy, they posted the strongest
NEW YORK, NY – MAY 28: Ryan Serhant is seen at photoshoot in soho on May 28, 2020 in New York City. … [+] (Photo by Raymond Hall/GC Images) GC Images While Bravo made Ryan Serhant a household name, it’s his innovative, forwarding-thinking approach to selling real estate that’s made him one of the top brokers in