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The U.S. housing market downturn will be worse in 2023, forecasts Goldman Sachs
Source: Fortune --- The U.S. entered into its first housing downturn of the post–Great Financial Crisis era. And the worst still awaits. On Tuesday, researchers at Goldman Sachs released a paper titled “The Housing Downturn: Further to Fall.” The investment bank now...
Mortgage Rates Rise to 5.66%, Weighing on Housing Market
Source: US News --- WASHINGTON (AP) — Average long-term U.S. mortgage rates rose to their highest level in two months this week, providing no relief for a slumping housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 5.66% from...
Fed seen sticking to interest rate hikes even as unemployment rises
Source: Reuters --- The Federal Reserve is seen sticking to sharp interest rate hikes in coming months to cool inflation, but rising U.S. unemployment and a slowdown in wage growth has traders betting that borrowing costs next year may not end up quite as high as...
3 NY real estate brokerages to pay $115K settlement over claims of illegal housing discrimination
Source: ABC 7 --- LONG ISLAND (WABC) -- Three Long Island real estate brokerages have agreed to pay a $115,000 settlement over claims of illegal housing discrimination, New York Attorney General Letitia James and Governor Kathy Hochul announced Tuesday. The agents...
Commercial Real Estate Hall of Fame: Next Realty’s Eteri Zaslavsky
Source: RE Journals --- Each year, Midwest Real Estate News elects a new class to its Commercial Real Estate Hall of Fame. Here’s a look at one of our new inductees, Eteri Zaslavsky, managing director of Next Realty in Skokie, Illinois. Eteri Zaslavsky, managing...
One in five home sellers is now dropping their asking price as the housing market cools
Source: CNBC --- Home sellers are getting nervous, as the once hot housing market cools fast. One in five sellers in August dropped their asking price, according to Realtor.com. A year ago that share was just 11%. The average home sold for less than its list price...
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