Thursday, Sept. 25 at 10:15 a.m.: The NYC Council's Subcommittee on Zoning and Franchises will meet regarding the following land use applications: Former Whitney Museum of American Art (Landmark), 350 Park Avenue rezoning, JFK Conduit Logistics Center Demapping, Broadway Junction Station City Map Amendment, El Caldero Restaurant and Sport Bar, Lava Rock Kitchen, and Green Pavilion Restaurant & Sports Lounge. .
The CEO of Meredith Whitney Advisory Group, whose prediction of the Great Financial Crisis earned her the moniker "Oracle of Wall Street," pointed out in a Financial Times op-ed that more than 54% of homes are owned by seniors, up from 44% in 2008. She added that 79% of seniors own their homes, and three-fourths of them don't have a mortgage, meaning they have an enormous amount of equity that can help cover rising homeownership costs, such as insurance.
The replacement level or rate needed to sustain the population is 2.1, a rate the U.S. met roughly two decades ago. The decline reflects broader social and economic shifts, including delayed marriage and parenthood. But economists and demographers cited in a Realtor.com report point to housing costs as a significant factor. Larger homes that can comfortably accommodate multiple children have become increasingly out of reach for many families, Hannah Jones, senior economic research analyst at Realtor.com, said in the report.
The short answer: Yes. Even new homes can have defects, ranging from misinstalled appliances to roof damage to grading problems. New construction single-family home sales have been rising since the pandemic, with builders frantically trying to keep up with the housing demand uptick that began in 2020. Builder incentives, mortgage-rate buydowns, and cash toward closing costs have also made new builds more enticing, especially as the gap in sale price between new construction and older homes starts to close.
A Seattle law firm specializing in large class-action litigation claims Zillow illegally tricks homebuyers into working with Zillow agents forced to split their commission with the real estate listings giant. In a filing with the U.S. District Court for the Western District of Washington, a man who bought a home in Portland with a Zillow agent claims the Seattle-based company, which is a licensed brokerage in several states, aimed to defraud him and other homebuyers.
The housing market is stuck in an unending circle of gridlock: Buyers aren't inclined to purchase a home because mortgage rates and home prices are too high (they're up 1.7% year over year at $440,004, according to Redfin). And homeowners don't want to sell their homes to trade for a higher mortgage rate and out of fear they won't get what they think their home is worth.
Menlo Park last week moved forward with plans to convert three downtown parking lots into high-density housing, aiming to add hundreds of affordable units amid soaring housing costs, while preserving public parking for downtown businesses that say they are still struggling to recover from pandemic lockdowns. The city released its official request for proposals Monday, following city council guidance last month.
Buying a house while renting means keeping your apartment lease active while you search for and close on a home. Instead of moving out before you've secured a property, you maintain your rental so you have stable housing during the process. Why rent while buying a house? Flexibility: You're not pressured to buy the first house you see. Housing security: If closing takes longer than expected, you won't be left without a place to live. Peace of mind: You can focus on the home search without worrying about short-term housing.
But a new GOBankingRates.com report highlighted the town of Burr Ridge, Illinois, as the most livable place to retire in the Midwest. The company compiled a list of 50 U.S. towns with a population of at least 10,000, where 33 percent or more are aged 65 or older, and then ranked them for overall livability. While Florida dominated the top 10, Burr Ridge came in strong at No. 17, the highest-ranked Midwest community on the list.
Racine residents can look forward to a fall that feels true to Wisconsin tradition this year: crisp, cool, and on the drier side. The Old Farmer's Almanac forecasts a cooler and drier-than-normal season across the Upper Midwest, including southeastern Wisconsin. Beyond the seasonal forecast, Racine has also earned a spot on the Realtor.com® 2025 Hottest ZIP Codes list, marking it as one of the state's most in-demand housing markets.
A north London council has approved plans for an inland surfing facility in the Lea Valley. The Surf London scheme at Pickett's Lock will see a new artificial lake built on parts of Lee Valley Golf Course and Lee Valley Camping and Caravan Park. Enfield Council's planning committee unanimously approved the plan, in which the golf course will be reduced in size and the campsite redeveloped.
For most of the year, the 10-year yield and 30-year mortgage rates have acted perfectly normally, with job growth slowing down. The 10-year yield peaked around 4.79% and mortgage rates have ranged between 6.13% and 7.25%. As the year has progressed, the 10-year yield has trended down toward 4% and has adequately accounted for the softening of the labor data.
While speaking this month at a summit hosted by the "All-In" podcast, Khosrowshahi fielded a question about how Uber would handle ownership of the self-driving cars that it plans to add to its operations in the coming years. All-In posted a video of the conversation on Wednesday. "You're going to have financial owners that own big fleets of cars that are on our network," Khosrowshahi said. "All of these cars are going to be financeable," he said.
Home flipping exploded during the Pandemic Housing Boom, as surging home prices and low interest rates lured investors into the fix-and-flip market. But the 2022 interest-rate shock abruptly ended the frenzy and created the biggest home-flipping pullback since the 2007 bust. This home-flipping slump continues to drive out many newcomer flippers and force veteran operators to adjust to slimmer profits.
The Foothill-De Anza Community College District board unanimously approved a roughly $54.5 million purchase of 50 affordable apartments for staff earlier this month. The district will buy the empty apartments at 699 N. Shoreline Blvd. as part of an agreement with Mountain View Whisman School District, which owns and operates the 144-apartment complex as workforce housing for 53 households. About 20 apartments are reserved for Mountain View city employees.
I grew up in Houston but had been living in Austin for nine years. I felt stuck in my suburban neighborhood. Everything looked the same, it was very quiet, and you barely saw anyone outside. A typical day involved going to the gym or getting coffee and then returning home to work with my husband. I felt isolated and craved more adventure and community.
The Old Farmer's Almanac has released its 2025 fall outlook, and for Lancaster, PA, the forecast calls for a cooler and drier-than-normal season. While the western half of the U.S. basks in lingering warmth, the Northeast and Appalachians-including Pennsylvania-are bracing for a brisk autumn. But while the state is seeing a cool down, several suburbs like Lancaster are having a red hot moment after being named among the top ZIP codes in the country this year.
The Duchy of Lancaster negotiated payments totalling 1,132,400 by selling land for road works near a proposed hub station in Crewe, Cheshire in a deal that has emerged despite the organisation's assertion that it is completely self-financing and does not rely on taxpayers' money. The duchy which has been controlled by reigning monarchs since medieval times and exists to provide them with a private income acquired a sprawling, 1,400-hectare (3,450-acre) estate set around the Jacobean mansion of Crewe Hall in 1936.
It connects major markets across Florida and gives our collective customers a broader, more timely view of the marketplace. Through the reciprocal access agreement, members of Stellar MLS and Miami Realtors will be able to search and view listings in both systems without having to sign up for an additional membership. Reciprocal access is slated to begin on Sept. 30.
The non-qualified mortgage market has experienced significant growth since its introduction nearly a decade ago. 10 years in, credit ratings agencies regularly release performance metrics for investors, which provide remarkable insight into this extremely versatile asset class. In a recent default study on non-QM performance over the years, for example, KBRA analysts note that non-QM loans faced tremendous macroeconomic uncertainties, from the recent era of high interest rates to the COVID-19 lockdowns, and yet continue to perform above and beyond expectations.
The elevated plain just north of Van Cortlandt Park was transformed into a neighborhood of winding and leafy streets with commodious dwellings beginning in the late 1880s. The opening of a train station nearby offered easy access and the developer behind the neighborhood, the American Real Estate Company, added a further enticement by installing an elevator from the station to their new neighborhood on the hill. They enthusiastically pitched their project in booklets, ads, and advertorials with the promise of relief from tiny city homes.
