A report from Bloomberg. "What’s flown largely under the radar amid the central bank’s efforts to bolster the economy, is the Fed’s role in pushing the $6.8 trillion mortgage-backed securities market to extremes. The Fed has bought more than $1…
A report from Bloomberg. "U.S. household debt rose slightly in the third quarter, reaching the highest level ever. Total debt increased 0.6% to $14.35 trillion from $14.27 trillion in the second quarter, the Federal Reserve Bank of New York said…
A report from WTOP. "Bright MLS reports new listings of condos and co-ops in the D.C. metro in October were up 49.2% from a year ago, a 10-year high for the second month straight. That does not mean there is…
A report from Realtor.com on Florida. "After three years of twists, turns, and foreclosure proceedings, Birdman’s mansion was finally sold for $10.85 million. The Cash Money Records co-founder purchased the Miami Beach, Florida, mansion back in 2012 for $14.5 million.…
A report from Click Orlando in Florida. "For the second time in two months, an Orlando sports legend’s sprawling home has become a little more affordable. Shaquille O’Neal’s Isleworth mansion can now be had for a reduced price. Shaq first…
A report from the Los Angeles Times in California. "In the 90210 ZIP Code, based on 30 sales, the median price for single-family homes in September was $4.518 million, down 27.1% year over year, according to CoreLogic." The San Diego…
A report from the Wall Street Journal. "Some of the most conservative real-estate funds are suffering from falling property values, putting their fund managers in a tough spot as investors look to cash out. Now that the pandemic has caused…
A report from the Commercial Observer. "New York is going to need a long time to recover from 2020. Exhibit 1: Givenchy and its parent company LVMH just paid a whopping $24.5 million to not finish their leaseat Jeff Sutton’s…
A report from CNBC. "'Everybody I know is leaving,' said Michael Kronenberg, who owns a downtown Manhattan apartment. 'It’s not just New Yorkers. My partners, long-time clients and investors of mine that live in Connecticut or New Jersey, they are…
It's Friday desk clearing time for this blogger. "A wave of foreclosures is likely coming that will hit low-income homeowners. As of August, over 10% of the eight million single-family mortgages backed by the Federal Housing Administration were delinquent by…