Global warming has already caused irreversible damage to the earth’s ecosystems and communities, according to a critical report just issued from the United Nations Intergovernmental Panel on Climate Change. The damage is extending to the U.S. housing market, which just saw unprecedented snow and flooding in California, as well as unusual winter tornados in the More
The Supreme Court in a unanimous decision Wednesday ruled that a California woman could not use U.S. bankruptcy code protection to avoid paying a $200,000 debt that resulted from fraud by her partner.The court said that the woman, Kate Bartenwerfer, owed the debt even if she did not know about her husband David’s misrepresentations regarding More
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments: Oscillator says market still oversold Our trades on DVN and CRM Quick mentions: HON and LLY Watching these bullpen stocks 1. Oscillator says market still oversold Stocks were in the… More
From above, the 2,000-acre new housing development just outside Austin, Texas, looks much like any other. Each home has solar panels, but that’s no longer uncommon.But the Whisper Valley community is entirely unique thanks to what lies below. Far below.The master-planned community, which will eventually include multifamily units and garden apartments in addition to single-family… More
Fifth Wall, a venture capital firm focused on real estate technology, is tripling down on its bet that climate tech will become an integral driver in the real estate space.It just announced commitments of half a billion dollars to close its inaugural Climate Fund, which launched with $116 million in August of last year. It… More
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
RgStudio | E+ | Getty ImagesNew government data showing record high inflation probably comes as no surprise to consumers who are facing sticker shock everywhere from the grocery aisles to the gas pump.Now, all eyes are on the Federal Reserve, which is expected to continue to raise interest rates to try to tamp down inflation.The… More
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 Bankrate.com.After the Fed raised interest rates for the first time in more… More
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
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
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
A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open house in West Hempstead, New York.Raychel Brightman | Newsday LLC | Newsday | Getty ImagesMortgage rates continued to surge higher last week, and that brought borrowers out of the woodwork, looking to refinance. While that… More
There’s a “big risk” of real estate companies filing for insolvency when interest rates rise, according to a partner at consulting firm Kearney.Nils Kuhlwein pointed out that the global financial crisis of 2008 started with a real estate and housing price bubble and mortgage defaults in the United States.”What we are now seeing again, 13… More
Home prices are rising faster than rents, which is shrinking the affordability gap between being a homeowner and a tenant.Median-priced, single-family homes are less affordable in just over three quarters of the nation — the highest total in 13 years, according to ATTOM, a real estate data tracker. That’s up from 39% at the end… More
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
