A view of clouds over Manhattan skyline in New York, United States on August 08, 2023. (Photo by Fatih Aktas/Anadolu Agency via Getty Images) Anadolu Agency | Anadolu Agency | Getty Images Manhattan rents fell for the first time in over two years, as the supply of empty apartments grew and renters held out for
Month: December 2023
The Federal Reserve announced it will leave interest rates unchanged Wednesday, in a move that many believe will conclude the central bank’s rate hike cycle and set the stage for rate cuts in the year ahead. The Fed has raised interest rates 11 times since March 2022 — the fastest pace of tightening since the early 1980s. The
An aerial view of existing homes near new homes under construction (UPPER R) in the Chatsworth neighborhood on September 08, 2023 in Los Angeles, California. Mario Tama | Getty Images Homeowners looking to refinance are finding savings after mortgage rates dropped again last week. The average contract interest rate for 30-year fixed-rate mortgages with conforming
In a league where posh residences dominate players’ lifestyles, the Giants’ newfound sensation Tommy DeVito has chosen a different route, opting to remain rooted in the only place he’s ever called home. The 25-year-old quarterback, who recently clinched a thrilling victory against the Packers, still resides with his parents in the modest 2,300-square-foot Cedar Grove,
The East China headquarters of Country Garden is being shown in Zhenjiang, Jiangsu Province, China, on October 10, 2023. Nurphoto | Nurphoto | Getty Images Embattled Chinese real estate developer Country Garden may avoid a default on its yuan-denominated bonds after most holders of a local note agreed not to demand repayment this week, according to Bloomberg
Eighty-year-old billionaire, Nicolas Puech, scion of the iconic fashion dynasty Hermès, is allegedly orchestrating a staggering succession saga that involves adopting his 51-year-old gardener. Puech, unmarried and without children, plans to legally designate his “former gardener and handyman” from a “modest Moroccan family” as his rightful heir, as reported by the Swiss publication Tribune de
The Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting this week after recent signs the economy is in fairly good shape and as inflation continues to drift lower. “While there’s been talk about an imminent recession going back to early last year, the U.S. economy has
Luxury properties in the Kensington and Chelsea district of London, UK, on Monday, Aug. 21, 2023. Jason Alden | Bloomberg | Getty Images The U.K. property market has been a rollercoaster for renters and prospective homeowners alike for over a year now. Rents soared throughout 2022 and 2023 as supply and demand imbalances led to
The Fried, Frank annual holiday party at Cipriani 42nd Street is the one by which other real estate soirees are judged — and the best informal barometer of the industry’s mood. The bash returned in full force on Dec. 5 after three years of Covid-influenced shrinkage. Law firm real estate chairman Jon Mechanic, the ever-ebullient
Former President Donald Trump wrote in a social media post on Sunday that he won’t testify in his $250 million civil fraud trial in New York on Monday. “I will not be testifying on Monday,” Trump wrote in an all-caps, multi-part post on Truth Social. Trump had previously been expected to return to the witness
This suburban New York mansion is fit for royalty. Former Miss America Vanessa Williams lives in an 11,603-square-foot $1.75 million Chappaqua home, which will be featured on MTV’s “Cribs” on Dec. 13. The 4.45-acre Westchester County spread is so sprawling, the singer and actress uses a golf cart to retrieve her mail. A highlight of
In a city steeped in artistic heritage, a piece of history just changed hands — and under the radar, to boot. Michelangelo’s childhood home, a relic from the Italian Renaissance, quietly transitioned to new owners near Florence, Italy. While the villa exchanged hands in a hush-hush deal brokered by Building Heritage, the exact sale price
Disney’s latest venture isn’t a theme park or a movie, but a residential community in North Carolina. However, the announcement of “Asteria” has left locals with skepticism and curiosity, likening the idea to something out of a dystopian novel. Settled in Pittsboro, Chatham County — just outside the “Triangle” area of Raleigh, Durham and Chapel
Hong Kong residential prices could fall by another 10% in 2024, according to DBS Hong Kong. Bloomberg | Bloomberg | Getty Images Hong Kong’s property market has plunged nearly 20% since its peak, and it may be a good time for homeowners to buy — but investors might want to think twice, according to Peter