Defaults loom over more property developers as China reassures investors on Evergrande

Aerial photography of “river view house” on the side of the Yangtze River. Yichang, Hubei Province, Oct. 16, 2020. Costfot | Barcroft Media | Getty Images The fallout in China’s property sector is showing no signs of abating, as more developers face the threat of default — even as uncertainty over the fate of heavily … Read more

Foreclosures are surging now that Covid mortgage bailouts are ending, but they’re still at low levels

A foreclosure sign in front of a house in 2007. Getty Images Foreclosures are starting to surge as government and private sector programs designed to help homeowners deal with the economic fallout of the Covid-19 pandemic have begun to expire. Mortgage lenders began the foreclosure process on 25,209 properties in the third quarter, a 32% … Read more

As mortgage rates shoot even higher, refinance demand plummets 10%

A sharp jump in mortgage interest rates over the past few weeks is taking its toll on mortgage demand. Total application volume fell nearly 7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.  The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 … Read more

Chinese property giant Evergrande has a huge debt problem – here’s why you should care

Chinese real estate behemoth Evergrande faced its biggest crisis in September 2021, spooking markets and prompting comparisons to the collapse of U.S. investment bank Lehman Brothers in 2008.   Since the company’s founding in 1996 by Hui Ka Yan, it has since accumulated more than $300 billion in debt, making it the world’s most indebted developer.    “As Evergrande … Read more

Existing home sales fall 2% as first-time buyers are priced out

A newly sold home is shown on August 12, 2021 in Houston, Texas. Brandon Bell | Getty Images Sales of previously owned homes declined 2% in August from July to a seasonally adjusted annualized rate of 5.88 million units, according to the National Association of Realtors. Sales were 1.5% lower than August 2020 for the … Read more

Artificial intelligence is taking over real estate – here’s what that means for homebuyers

Brick-and-mortar real estate may seem like the only tangible thing left in an increasingly virtual world, but it too is being taken over by artificial intelligence. Some of the biggest names in the business, such as Compass, Zillow and LoanSnap, are now employing AI to help find buyers the perfect mortgage and the perfect home. … Read more

China’s embattled developer Evergrande is on the brink of default. Here’s why it matters

The Emerald Bay residential project developed by China Evergrande in the Tuen Mun district of the New Territories in Hong Kong, China, on Friday, July 23, 2021. Lam Yik | Bloomberg | Getty Images Chinese property giant Evergrande is on the brink of collapse, and analysts warn the potential fallout could have far-reaching implications that … Read more

China’s indebted property firm Evergrande committed two ‘cardinal sins,’ says portfolio manager

The Emerald Bay residential project developed by China Evergrande in the Tuen Mun district of the New Territories in Hong Kong, China, on Friday, July 23, 2021. Lam Yik | Bloomberg | Getty Images China Evergrande has committed “two cardinal sins” which have led to the debt crisis it’s now facing — and investors are … Read more

More Affordable Housing, Healthier Hearts?

By Cara MurezHealthDay Reporter THURSDAY, Sept. 9, 2021 (HealthDay News) — One of the keys to good health could be in the hands of those who decide zoning policies for their communities. Inclusionary zoning policies that provide for affordable housing were associated with lower rates of heart disease for those who benefited from these dwellings, … Read more

‘Property market on steroids’: Asia-Pacific’s real estate boom sees buyers bidding up prices

Singapore has hinted that unvaccinated travelers may be subject to longer quarantine periods and additional testing. franckreporter | E+ | Getty Images SINGAPORE — Housing prices have shot up across cities in Asia-Pacific this year, fueled by record low interest rates amid the pandemic. Optimism has also gained steam as vaccination rates gain pace, and … Read more