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“US housing market headed for ‘deep freeze’ as mortgage rates soar” The US housing market is on the cusp of a “deep freeze” as rising mortgage rates and steep home prices conspire to limit buying and selling activity, a prominent economist warned this week. Mark Zandi, the chief economist of Moody’s Analytics, pointed to a…
“The shortage of judges in NY’s Housing Court is causing massive pain for both tenants and landlords” When Gov. Kathy Hochul two weeks ago signed a bill expanding the number of judges in certain judicial districts and Family Court, one branch of the judiciary inexplicably wasn’t included: Housing Court. That oversight is tragic, because Housing…
“Capital Economics reports US home prices to sink by 2023 as mortgage rates hit 6%” Sky-high prices in the US housing market will sink in the coming months as cash-strapped prospective homebuyers contend with surging mortgage rates, a prominent research firm said in a report Monday. Home prices are projected to decline approximately 5% by…
“Mortgage rates climb to 5.78% in biggest weekly gain since 1987” Mortgage rates continued their rapid climb this week, posting their largest one-week gain since 1987 in a likely precursor to a slowdown in the US housing market after its pandemic-era boom. The average contract interest rate on a 30-year fixed-rate mortgage was 5.78% as…
“Atria Senior Living in NYC is not standard senior home” Boomer seniors grew up with sex, drugs and rock ‘n’ roll and don’t want to give up their unique luxe lifestyles or independence. Many are now taking stock of what they’ve got and situating themselves at new, all-inclusive resort-like places long before they fall and…
“Eric Adams’ detail-lacking plan promises to house homeless faster” Mayor Eric Adams rolled out a plan for the Big Apple on Tuesday that promised to help homeless New Yorkers find housing and combat soaring rents across the city, but lacked key details including how much housing he hoped to build across the five boroughs. Adams…
“Compass, Redfin to lay off hundreds as housing market cools” Real estate firms Compass and Redfin revealed plans to conduct layoffs on Tuesday as surging mortgage rates trigger a slowdown in the once-booming housing market. Redfin’s regulatory filing cited “market conditions” in the firm’s decision to cut the company’s headcount by about 470 employees, with…
“NIMBY New Yorkers should say ‘Yes’ to Adams’ City of Yes plan” Mayor Eric Adams wants to remake New York into the “City of Yes.” The mayor made his pitch in a speech to the Association for a Better New York last week, laying out a litany of government-inflicted roadblocks holding back growth where we…
“For $1.8 million you can buy this gorgeous floating home in Vancouver” Waterfront homes in nearby Point Grey sell for upwards of $10 million, making this floating gem on Granville Island a relative bargain It’s not every day a floating home like this hits the market. Located in the Sea Village Marina, this four-bed, two-bath…
“For $2.3 million you can buy an entire village of Swiss chalets, nestled in the Rockies” The historic Golden, B.C., property offers mountain vistas at every turn and has been sitting on the market for 600 days and counting No one currently lives in Edelweiss Village in Golden, B.C., but don’t call it abandoned. The…