Over 18 million rental units at risk from environmental hazards: Study

D3sign | Stone | Getty Images Extreme weather and climate hazards are becoming more frequent, posing a threat not only for homeowners but for renters. More than 18 million rental units across the U.S. are exposed to climate- and weather-related hazards, according to the latest American Rental Housing Report from Harvard University’s Joint Center for … Read more

NYCB reignites banking industry, commercial real estate fears

The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024.  Bing Guan | Bloomberg | Getty Images Embattled lender New York Community Bank disclosed a litany of financial metrics in the past 24 hours in a bid to soothe skittish investors. But one of the most crucial resources … Read more

Weekly mortgage demand from homebuyers is flattening as interest rates rise

Thianchai Sitthikongsak | Moment | Getty Images Mortgage demand is struggling to contend with what appears to be another upswing in interest rates. Homebuyers in particular are pulling back. Total mortgage application volume rose 3.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was all due … Read more

Adam Neumann is trying to buy WeWork

Adam Neumann wants to buy real-estate company WeWork, the company he co-founded in 2010 and that ousted him nine years later, out of bankruptcy citing the support of “well-known capital sources” including Dan Loeb’s Third Point. But the hedge fund told CNBC that it had not committed any financing and that discussions with Neumann were … Read more

What homeowners need to know as insurers leave high-risk climate areas

Some insurance companies are pulling back coverage from fire- and flood-prone areas, leaving homeowners with limited affordable options. This trend may even affect the property value of American homes, experts say. The nation’s largest homeowner’s insurance company, State Farm, stopped accepting new applications for policies on property in California in May. Allstate announced in November … Read more

Nintendo hikes sales forecast of Switch console to 15.5 million units

Nintendo has kept players interested in its ageing Switch console series through key games with characters such as Super Mario and Zelda. Charly Triballeau | AFP | Getty Images Nintendo said on Tuesday it now expects to sell 15.5 million of its flagship Switch consoles in its current fiscal year, upping a previous forecast, after … Read more

Bankrupt trucker Yellow repays $700 million Covid loan

Trucks and trailers sit in a Yellow Corp. facility lot, closed after the freight trucking company ceased all operations, in Las Vegas, Nevada, on July 31, 2023.  Patrick T. Fallon | AFP | Getty Images The bankrupt trucking company Yellow has fully repaid a controversial $700 million Covid loan to the U.S. Treasury Department, plus … Read more

Mortgage rates back over 7%, as stronger economic data rolls in

This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized rate of 4.07 million units, the National Association of … Read more

How much you need to earn to afford to buy a home in Sydney

The staggering amount Sydney home buyers need to be earning to afford an average property has been revealed, as the income needed to buy a house rapidly outpaces wages. House prices are rising so fast in the city that buyers need to be earning more than $200,000 to afford an average dwelling — up $40,000 … Read more