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Global property market faces $175 billion debt spiral
Source: Crain's Chicago Business --- (Bloomberg)—The slump in the world’s biggest asset class has spread from the housing market to commercial real estate, threatening to unleash waves of credit turmoil across the economy. Almost $175 billion of real estate credit is...
Here’s What Proposed FTC Ban on Noncompete Clauses Could Mean for Real Estate Brokers
Source: CoStar --- For most U.S. real estate brokers, job hopping is part of a successful career where executives can negotiate bigger paychecks — and a more important-sounding title — at a new company once they have proven themselves to the industry. But sometimes...
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New-home sales post a May surprise with an 11% monthly gain
Source: Scotsman Guide --- Friday’s new residential sales report from the U.S. Census Bureau brought some surprising good news, as new single-family home sales jumped 10.7% monthly to a seasonally adjusted annual rate of 696,000 units in May. The gain was very much an...
Mortgage applications rise amid strong demand for ARMs
Source: Realty Biz News --- Mortgage applications surprisingly jumped 8% last week compared to the previous seven day period, boosted by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association. However, applications are still down 10%...
Demand For Vacation Homes Is Now Below Pre-Pandemic Levels
Source: Redfin --- High home prices and mortgage rates, along with economic uncertainty and an increase in second-home loan fees, have put an end to the pandemic-driven vacation-home boom. Demand for vacation homes has fallen below the pre-pandemic baseline for the...
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