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Homebuyers are staying on the sidelines as housing prices hit record levels and homebuilding and rental supply isn’t keeping up with the demand. Home prices neared their all-time high last month, eclipsing $400,000 for only the third time on record. Rising prices, mortgage rates push monthly payments to all-time high: report This is due largely to…
Homebuyers and renters alike could feel relief later this year as home prices stabilize, mortgage rates decline and rent price growth continues to slow. Economists expect the Federal Reserve to pause rate hikes for a time while it observes incoming economic data, some stemming from the banking crisis that led to tightened lending. This could…
“How extreme rent rules deepen NYC’s housing crisis” A new state report shows that New York’s rent laws are deepening the city’s housing crunch. The state Office of Rent Administration found that more than 30% of all rent-stabilized apartments in New York City have “preferential” rents, meaning ones lower than the landlord is legally allowed…
“George Santos’ sister, Tiffany, facing eviction for years” Rep.-elect George Santos’ sister reportedly skipped years of rent on the Queens apartment the siblings once shared — but managed in that time to still dish out tens of thousands of dollars in political contributions, including $5,000 to her lying brother’s campaign. Court records show that Tiffany…
“Letters to the Editor — Dec. 15, 2022” The Issue: The rising numbers of migrants trying to cross the border ahead of the end of Title 42. President Biden, I think it’s time to secure the United States’ southern border (“Rush hour,” Dec. 13). It has become a crisis, and America has lost its credibility…
“I’m a 27-year-old student who moved in with an 86-year-old to save on rent” “That family hierarchy doesn’t exist between us—we treat each other as equals.” Last fall, I was living with three roommates in a rickety 1970s single-family home in East Vancouver. The place was falling apart: our roof collapsed in October of 2020,…
“Kudos to Councilman Bob Holden for pushing NYC pols to own up to their rent deals” What a sensible idea: Progressive pols race to keep down rents in rent-stabilized city apartments, even though it hurts both landlords and tenants. Why not see if they’re motivated by a personal conflict of interest — i.e., their own…
“Rent or buy? An expert weighs in on the sky-high rental market” Rental rates are soaring across Canada. Over the past year, average rent prices have increased nearly 18 per cent in Ontario, 15 per cent in British Colombia, and 12 per cent in Alberta—while in Atlantic Canada rents have risen by a whopping 32.2…
“How this Calgary company is transforming empty offices into housing units “ Even as remote employees start returning to in-person work, Canada’s downtowns remain filled with vacant office buildings. In Calgary, for example, the downtown vacancy rate recently reached 27.5 per cent. Meanwhile, the demand for housing throughout the country is higher than ever. Calgary’s Strategic…
“Ray’s Candy Store owner saved by $50K in donations” How sweet it is! Beloved East Village fixture Ray’s Candy Store was spared from shutting its doors after its 89-year-old owner fell behind on his bills thanks to nearly $50,000 in donations from his sweet-toothed customers, Side Dish has learned. The store’s owner, Ray Alvarez, has…