Real Estate

Exceptional demand for new and existing homes, brought on by the stay-at-home culture of the coronavirus pandemic, has the housing market severely depleted.Sales of newly built homes jumped to the highest level in 14 years in August, but builders’ supply dropped to just 3.3 months’ worth at the current sales pace. A six-month supply is… More

The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero for as long as it takes to help the economy bounce back from the coronavirus crisis. The Fed said the ongoing pandemic will “weigh heavily” on the near-term outlook and poses “considerable risks” for the medium term.In addition to holding rates near rock bottom, the central bank… More

Homebuilding is booming.Homebuilder sentiment hit a fresh all-time high on Wednesday on the back of rising demand for suburban housing. The iShares U.S. Home Construction ETF (ITB) and the SPDR S&P Homebuilders ETF (XHB) climbed nearly 3% and 2% respectively following the spike, with the XHB hitting a new all-time high.Wall Street analysts also highlighted several popular… More

Chamath Palihapitiya pioneered taking private unicorns public by reverse merging them into special purpose acquisition companies — an idea he’s called “IPO 2.0.” After his first iteration of doing so last year with space-tourism company Virgin Galactic, he’s found his next target: Opendoor, an online marketplace for buying and selling houses. “These guys are my next 10x… More

Potential homebuyers attend an open house in Seattle.Mike Kane | Bloomberg | Getty ImagesMortgage rates just set another new low, and that means the number of borrowers who could benefit from a refinance hit a new all-time high. The average rate on the 30-year fixed mortgage fell to 2.86% for the week ending Sept. 10, down… More

The development is located in the St George area of Bristol, England.Jon Craig PhotosWhether it’s sky-high apartment blocks, low-rise housing or converted shipping containers, the buildings we occupy come in all shapes and sizes.In Bristol, England, one development is attempting to address the city’s housing needs through a modular design that places a focus on… More

The Sorting Office that Google was planning to lease in Dublin, Ireland.Google Dublin Sorting OfficeLONDON — Google has decided not to press ahead with plans to lease an office in Ireland with enough space for 2,000 staff.The news was first reported by Bloomberg and confirmed to CNBC by Google.Based in Dublin’s Docklands area, where thousands… More

Matt Cardy | Getty Images News | Getty ImagesU.K. house prices saw their biggest growth since 2016 in August, climbing to a record high, according to Britain’s longest-running barometer of the property market. The Halifax House Price Index, which is run by analysis company IHS Markit, found that U.K. house prices grew by 5.2% in August… More

Rendering of Maude Park, Middlefield ParkSource: GoogleWhoever thought the coronavirus pandemic would drastically change tech companies’ real estate plans in Silicon Valley, hasn’t met Google.The Alphabet company has proposed a new tech campus in its historic home city of Mountain View, with plans to remodel 40 acres into a mixed-use center that includes housing, retail… More

kali9 | E+ | Getty ImagesIt’s not uncommon for retired homeowners to want to relocate or downsize.Yet if the move involves buying a house and financing that purchase, they may discover that qualifying for a mortgage is a bit different from the last time they bought a home. Not only have lenders tightened their credit… More