Giant search engine and technology company Google plans to purchase the New York City office building it currently leases for $2.1 billion. According to Real Capital Analytics and The Wall Street Journal, the purchase would be the most expensive commercial buy since the pandemic’s beginning. The building is known...
The housing boom may just be over as sales of new homes have fallen to their lowest since the pandemic arrived in 2020. According to the U.S. Census Bureau, new, single-family home sales are at an annualized rate of 676,000. The figure is 6.6 percent lower than May’s count of...
The Consumer Financial Protection Bureau (CFPB), a consumer protection advocacy group, has suggested that a rule be put in place to prevent mortgage foreclosures against borrowers until at least December 31, 2021. CFPB wants the rule to apply to both private and federal mortgages.
As per the National Association of Realtors (NAR), pending home sales were down by 10.6 percent in February over the previous month. Pending home sales are typically existing home purchase contracts that have been signed and agreed upon. In a year-to-year comparison, existing home...
Lumber prices per 1,000 board feet have doubled over the past three months, making it more expensive to build the single-family housing that’s desperately needed. March’s Random Length Lumber Futures showed prices at $1,004.90 per 1,000 board feet on Thursday. It was the first...
On Thursday, the Dow Jones Industrial Average plunged more than 1,800 points, its largest one-day loss in three months. The decline was attributed to growing concerns over rising coronavirus cases in many states since reopening from lockdowns. The Dow fell by 1,861.82 points to 25,128.17, a 6.9...
It’s been tough to find any good news with an awareness of the coronavirus being more heightened. But homeowners and would-be-homeowners might feel differently. Refinancing rates for 30-year mortgages recently fell to 3.57 percent, while mortgage rates for new loans stood at 3.11 percent...
Mortgage rates have declined further recently, but home loan applications have actually fallen. In the past two weeks, the Market Composite Index fell by 1.5 percent for the week of Jan. 3, 2020, according to the Mortgage Bankers Association (MBA). The MBA acknowledges that the results for...
During the final quarter of 2019, the median price for some of Manhattan’s ritziest apartment listings fell to $1.8 million, or down 7.5 percent. Sales for apartments with a $5 million or more price tag fell 38 percent in the last quarter. Overall, the...
Google’s parent company, Alphabet, is reportedly acquiring Fitbit. Google is purchasing Fitbit for $7.35 per share in cash, or approximately $2.1 billion. Fitbit’s highest share price has previously been as high as $51.90 during August 2015. Some experts say that Google’s acquisition comes at a diluted cost....