Real estate related news.
LOS ANGELES — The nation’s housing slump dragged on into January as home sales fell for the 12th consecutive month to the slowest pace in more than a dozen years. The National Association of Realtors said that existing home sales fell to a seasonally adjusted annual rate of 4 million properties last month. That’s the [...]
DUBAI, United Arab Emirates — Fourteen years after a financial crisis nearly brought Dubai to its knees, several major abandoned real estate projects are finally showing signs of life as part of a new economic boom in the city-state. As with previous upturns in Dubai, war is a driving force. This time it's Russian investors [...]
ISTANBUL — Turkey has for years tempted fate by not enforcing modern construction codes while allowing — and in some cases, encouraging — a real estate boom in earthquake-prone areas, experts say. The lax enforcement, which experts in geology and engineering have long warned about, is gaining renewed scrutiny in the aftermath of last week's [...]
KAPOLEI, Hawaii — Kona Purdy never wanted to live anywhere but Hawaii. As a Native Hawaiian, he wanted his children to grow up like he did: rooted in their culture, and nourished by the mountains and ocean. However, raising a family in Hawaii meant squeezing nine people into a four-bedroom house — rented with extended [...]
LOS ANGELES (AP) — Homeowners who held off selling their homes in 2022 as the housing market slowed missed out on a windfall and may have to settle for slimmer profits if they opt to sell this year. The sale of a median-priced home last year translated into a profit of $112,000, a 21 percent [...]
LOS ANGELES (AP) — Home sales across the country last year tumbled to the slowest pace in nearly a decade as soaring mortgage rates and sky-high prices pushed homeownership out of reach for many Americans. The National Association of Realtors said existing home sales totaled 5.03 million last year, a 17.8 percent decline from 2021. [...]
LOS ANGELES — Soaring mortgage rates knocked the housing market into a deep slump in 2022, and the prospects of a swift turnaround in 2023 look dim, especially with the average rate on the benchmark 30-year mortgage still hovering above 6 percent, or double what it was this time last year. Shares in Redfin, which [...]
MEXICO CITY (AP) — A grisly pre-Christmas killing of two young men and their uncle at an early 1900s house in Mexico City cast attention on the dark side of the capital's booming real estate market, fed by a lack of legal documents and gangs that illegally seize properties. Actor Andrés Tirado, his musician brother [...]
Seven years ago, Phil Levin and his girlfriend, Kristen Berman, pondered a common question: Should we move in together? Levin assumed they'd take a predictable path and find a more affordable apartment outside of pricey San Francisco. Berman, a behavioral scientist, shared her reservations about leaving their friend network — and some facts to back [...]
LOS ANGELES — Homebuilders have pumped the brakes on new single-family home construction this year, a trend that's likely to extend into 2023, according to several forecasts. Single-family housing starts were running at a seasonally adjusted annual pace of about 1.16 million properties in January, when the average rate on a 30-year mortgage hovered below [...]