real estate
Boston () - Five short years ago, many learned men and women warned Americans against thinking that rising home prices would eliminate or lessen the need for them to save for retirement. Institutions and advisers alike advised people against relying on the equity in their homes to finance part or even all of their consumption needs in retirement.
Sydney () - Despite a weak residential-housing market and challenging retail conditions, Australia’s property sector — and specialized-shopping firms in particular — still holds appeal, analysts say.
U.K () - A U.K. house-price gauge rose to the highest level in nine months in April as demand for homes stabilised, the Royal Institution of Chartered Surveyors said.
London () - London property developers are sacrificing height and glitz for better returns as the craze for building iconic skyscrapers comes to an end, said Ken Shuttleworth, the architect of the landmark Gherkin building.
USA () - Real estate agents have been hustling lately but not necessarily to sell homes. Instead, leasing is in vogue, particularly at the top of the price spectrum.
Kyiv () - The average price of apartments in Kyiv in early April 2011 fell to a record low in the past five years, beating the previous low in April 2009 of $1,823.60 per square meter, and dipping to $1,813.20 per square meter, Chairman of the Committee for Analysis of the Union of Real Estate Experts of Ukraine Vsevolod Zhoholev has said.
Chicago () - After several years of perusing real estate listings and spending Sunday afternoons at open houses, Denise Majeski decided to stay put and fix up her 25-year-old Gurnee, Ill., home.
Los Angeles () - A Los Angeles developer is planning to build a $100-million apartment and retail development near the Hollywood & Highland entertainment complex.
Champion Real Estate Co. paid $20 million for a 2.76-acre collection of parcels, some of which will be redeveloped, President Robert Champion said Thursday. The property was purchased out of receivership.
Chicago () — As world events dominated the news in recent weeks, mortgage rates enjoyed a reprieve from a climb that began late last year, keeping the 30-year fixed-rate mortgage down below 5% at the start of what is traditionally the home buying and selling season.
While multiple factors move mortgage rates and it’s impossible to pinpoint the exact reason why they’re up or down, we do know this: The tsunami and subsequent nuclear disaster in Japan likely caused a flight to quality by worried investors, moving more money from riskier investments into safer U.S. Treasury bonds and mortgage-backed securities, said Robert Rauf, a mortgage banker with Real Estate Mortgage Network in Manasquan, N.J. Ditto for conflicts in the Middle East, including the current situation in Libya.
Home prices in January remained barely above lows hit during the worst of the recession, according to an index that tracks prices in America's biggest cities, and many analysts said they expected values to fall further as the housing downturn plumbs new depths.
The Standard & Poor's/Case-Shiller index for 20 major U.S. cities, released Tuesday, showed prices dropped 3.1% from January 2010 and 1% from December as demand for homes remained weak and distressed properties — foreclosures and short sales — remained a large part of the market.
WASHINGTON — A new home, the dream of many would-be buyers, makes less and less financial sense in many places.
A wave of foreclosures has driven down the cost of previously occupied homes and made them even more of a comparative bargain. By contrast, new homes have become more expensive.
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