Despite the challenges faced in the past year, Standard Chartered CEO Bill Winters believes that China’s property market has not yet hit rock bottom. In a recent interview with CNBC, Winters expressed his concerns about the investing environment in China, citing low consumer and international investor confidence. He highlighted the fact that the property market
Real Estate
In light of the upcoming Federal Reserve meeting, Nobel Prize-winning economist Joseph Stiglitz has voiced his opinion that the Fed should deliver a half-point interest rate cut. Stiglitz believes that the U.S. central bank has tightened its monetary policy too aggressively, exacerbating the issue of inflation. He argues that keeping interest rates near zero for
The real estate market has been witnessing a significant shift in recent times. Though the supply of homes for sale is still lower than historical standards, it is quickly rising. According to a report from Realtor.com, active listings in August saw a 36% increase compared to the same month last year, marking the 10th consecutive
London landlords are facing a crisis as they are selling their buy-to-let properties at an alarming rate. The current situation has been attributed to anticipated tax hikes from the U.K. Labour government, which are putting pressure on what was once a lucrative investment sector. Data published by property portal Rightmove revealed that almost one-third of
Mortgage demand is currently seeing a significant shift towards refinancing, driven by a consecutive decline in interest rates over the past five weeks. While total mortgage application volume increased marginally by 1.6% last week, the surge in refinancing applications stands out as a notable trend. This shift is evident in the Mortgage Bankers Association’s latest
China’s housing market continues to face challenges, as government stimulus efforts have fallen short in reviving the sector. JPMorgan’s Chief China Economist, Haibin Zhu, believes that the housing market crash is far from over and predicts that home prices will not stabilize until at least 2025. Recent data shows that new home sales in major
REA Group, a property listings giant owned by Rupert Murdoch’s News Corp, has recently announced its contemplation of a takeover offer for the leading U.K. property portal, Rightmove. This potential acquisition is aimed at creating a global digital real estate powerhouse, leveraging the strengths and market presence of both entities. Although no formal discussions have
The housing market continues to experience record-high prices, with the S&P CoreLogic Case-Shiller U.S. National Home Price Index reflecting a 5.4% increase in June compared to the previous year. Despite rising mortgage interest rates, home prices have reached unprecedented levels. However, the annual gain in June was slightly lower than the previous month, indicating a
In today’s society, the concept of ownership is undergoing a significant shift. More Americans are now opting to rent various items such as cars, apartments, clothing, furniture, and even funeral caskets. According to a report by Intuit Credit Karma, 28% of adults regularly rent goods and services, with that percentage increasing to 47% when factoring
When considering the high real estate prices in Manhattan, New York, it is shocking to discover that for the price of a 500 square foot apartment in the city, you can purchase a property over 7,000 square feet in Sicily, Italy. This Italian island is famous for its rich history, beautiful beaches, and charming hilltop