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  • millennial-millionaires-are-delaying-home,-car-purchases-due-to-inflation

    Millennial millionaires are delaying home, car purchases due to inflation

    Millennial millionaires are temporarily shelving major purchases as interest rates and inflation rise, according to CNBC’s Millionaire Survey.Nearly half of millennial millionaires say higher borrowing costs are causing them to delay buying a car, and 44% say higher interest rates have caused them to delay purchasing a home, according to the survey. More than a… More

  • here’s-how-you-can-prepare-for-possible-aggressive,-quicker-rate-hikes-from-the-fed

    Here’s how you can prepare for possible aggressive, quicker rate hikes from the Fed

    For most Americans, the surging cost of living is weighing heavily on their wallets.”Wage growth has failed to match the dizzying pace of rising prices, which the Federal Reserve has effectively identified as ‘monetary policy enemy No. 1,'” said Mark Hamrick, senior economic analyst at the Fed raised interest rates for the first time in more… More

  • here’s-what-the-fed’s-rate-hike-means-for-borrowers,-savers-and-homeowners

    Here’s what the Fed’s rate hike means for borrowers, savers and homeowners

    The Federal Reserve raised its target federal funds rate by a quarter percentage point from near zero at the end of its two-day meeting Wednesday.The first increase in the benchmark rate in three years will lay the groundwork for six more hikes by year’s end.”The war in Eastern Europe gives the Fed reason to act more cautiously, but they will… More

  • america’s-biggest-new-mansion-auctions-for-$141-million

    America’s biggest new mansion auctions for $141 million

    The rear of the home opens to a massive lawn framed by a moat-like water feature and a 400 ft. running track just below it.Marc AngelesA 105,000-square-foot Los Angeles mega-mansion that was listed for $295 million sold at a bankruptcy auction for $141 million, ending a 10-year-saga of soaring debt and failed dreams.The auction for… More

  • natural-disasters-hit-roughly-1-in-10-american-homes-in-2021

    Natural disasters hit roughly 1 in 10 American homes in 2021

    A man walks to his friend’s home in a neighbourhood without electricity as snow covers the BlackHawk neighborhood in Pflugerville, Texas, U.S. February 15, 2021.Bronte Wittpenn | Austin American | RuetersIn 2021, there were 20 climate disasters that each resulted in losses of at least $1 billion in the U.S., according to NOAA.That wreaked havoc… More

  • sales-of-newly-built-homes-tank-as-affordability-hits-buyers

    Sales of newly built homes tank as affordability hits buyers

    Construction materials for a new home being built by CastleRock Communities in the Sunfield neighborhood of Buda, Texas, U.S., on Wednesday, Nov. 10, 2021.Matthew Busch | Bloomberg | Getty ImagesAt some point the price is just too high. That may be increasingly the case for potential buyers of newly built single-family homes.Sales of those homes… More

  • new-york-city-rents-jump-22.8%-in-november,-as-the-rental-market-bounces-back

    New York City rents jump 22.8% in November, as the rental market bounces back

    The New York City rental market is regaining strength.In November, the net effective median rent for Manhattan rose 16.7% compared with last year, according to the most recent rental report from brokerage firm Douglas Elliman and real estate appraisal firm Miller Samuel. That’s the second-straight month of record rates.”We’re in many ways shocked, and we’ve… More

  • german-central-bank-warns-of-overblown-property-prices-with-the-problem-spreading

    German central bank warns of overblown property prices with the problem spreading

    Germany’s central bank warned Thursday about skewed valuations in the housing market, calling it a “specific vulnerability” as property prices continue to soar.”We have basically seen all indicators — prices, credit — those indicators kept increasing in Germany and you don’t really see a big effect of the pandemic,” Claudia Buch, vice-president at the Bundesbank… More

  • borrowers-rush-to-refinance,-as-mortgage-rates-drop-for-a-second-week

    Borrowers rush to refinance, as mortgage rates drop for a second week

    A property for sale in Monterey Park, CaliforniaFrederic J. Brown | AFP | Getty ImagesMortgage rates fell for the second straight week last week, and that helped boost refinance demand for the first time in a while. As a result, total mortgage application volume rose 5.5% last week compared with the previous week, according to… More

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