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Mortgage mayhem sparks fears of a housing market crash in Britain
Source: CNBC --- LONDON — There are growing fears of a housing market crash in the U.K., after a swathe of tax cuts announced by the government sent interest rate expectations soaring, driving up lending rates for homebuyers. Finance Minister Kwasi Kwarteng’s...
Opendoor’s iBuyer Model Is a Canary in the Economic Coal Mine
Source: Wired --- OPENDOOR IS TAKING a pounding. Forty-two percent of the homes it sold in August made a loss, according to an analysis by market research firm YipitData. In places like Phoenix, Arizona, where cookie-cutter houses have attracted so-called iBuyers en...
Biden’s Fight Against Inflation Is Failing Homeowners
Source: Washington Post --- The causes of inflation can be hard to isolate, but in the US at least, one culprit is clear: President Joe Biden and congressional Democrats spent too much in the last two years, and even now refuse to take steps that would ease the...
House hunters on the ‘demoralizing’ process of buying a house in a crazy market. One listing had 30 offers — and sold for $85,000 above asking.
Source: Market Watch--- First, they had to battle the pandemic-induced buying frenzy. Now, potential home buyers are struggling with sky-high mortgage rates. Between the start of the summer and into the fall, there’s a “day and night difference,” Riddish Kankariya,...
New Study Finds Majority of U.S. Markets Favor Sellers
Source: DS News --- The housing market continues to change as higher mortgage rates, rising inflation and economic uncertainty have sidelined many buyers. Meanwhile, according to this month's Knock Buyer-Seller Market Index, sellers have the upper hand remaining in...
A real estate agent data breach would be devastating for renters. They collect too much personal information
Source: The Guardian --- Thanks to Optus, millions of people are now acutely aware of what can happen when companies don’t take privacy and security seriously. But telcos aren’t alone in collecting and storing too much of our personal information. The real estate...
Surging interest rates sucker punch homebuilders and buyers alike in metro Denver
Source: The Denver Post --- Long lead times to complete new homes have combined with rapidly rising interest rates, now at 15-year highs, to put metro Denver homebuilders and their customers in a predicament unlike any seen since the housing bust.
Better Surpasses $100B in Mortgages Funded for American Families
Source: Business Wire --- NEW YORK--(BUSINESS WIRE)--Better, a leading digital homeownership company, today announced it has surpassed $100 Billion in mortgages financed for American families. This is a key milestone in Better’s journey to make homeownership cheaper,...
Want to Buy a Home Without a Mortgage? Here’s How
Source: The Motley Fool --- Mortgages have gotten expensive. Last year, it was more than possible to sign a 30-year mortgage at under 3%, especially with great credit. Nowadays, you might end up paying somewhere around 6% for a 30-year loan. Unfortunately, most buyers...
‘Halloween’ villain Michael Myers haunts New Hampshire home in viral real estate listing
Source: Today --- A local real estate professional in New Hampshire caught the attention of thousands by including a special guest in his recent listing. While the home that Tommy Bolduc listed in Weare, N.H. appears charming at first glance, upon further inspection...
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