China’s real estate industry continues to grapple with issues that are hindering its recovery. A recent report by global investment firm KKR highlights the challenges that persist in the sector, pointing to the need for urgent action to address these problems. The industry, which was once a significant contributor to China’s economy, is struggling to
Real Estate
The latest data shows that mortgage rates have remained relatively stable over the past week, and this lack of movement is reflected in the demand for mortgages as well. Potential homebuyers are facing significant hurdles due to high costs and limited supply, while existing homeowners are finding little reason to refinance their loans at the
In the wake of the pandemic, housing costs in the United States have skyrocketed, far outpacing the median household incomes. According to a recent analysis by Redfin, a national real estate brokerage site, the average annual income needed to afford the typical house in the U.S. is a staggering $113,520. This represents a 35% gap
In March, there was an increase in rent prices for both one- and two-bedroom apartments across the U.S. This marked the first time in six months that prices had risen. The average monthly cost for a one-bedroom apartment went up to $1,487, reflecting a 0.3% increase from the previous month. Similarly, the typical price for
The spring housing market is typically a bustling time for the real estate industry, but recent data from the Mortgage Bankers Association shows that mortgage demand is stagnant. Application volume only saw a slight decrease of 0.7% compared to the previous week. This lack of movement in mortgage applications could be indicative of a larger
Federal prosecutors have taken legal action to seize two upscale New York City apartments valued at $14 million, which are believed to have been purchased using funds obtained through a corrupt scheme linked to Mongolia’s prominent copper mine. The lawsuit, filed in U.S. District Court in Brooklyn, exposes a series of alleged illicit transactions totaling
In a time where the housing market is incredibly competitive and prices are skyrocketing, Pacaso, a luxury vacation home co-ownership platform, is making waves by redefining the concept of second home ownership. Launched in 2020 with multimillion-dollar homes available for co-ownership, Pacaso is now introducing a wider range of listings with share prices starting as