Grace Cary | Moment | Getty Images Inflation continued to throttle back in August, signaling that the fast-rising prices that plagued the U.S. economy for the better part of the three years during the pandemic era are increasingly shifting into the rearview mirror. Overall inflationary pressures are “dissipating,” said Sarah House, senior economist at Wells
Month: September 2024
While the rest of the world sees a dip in the ultra-luxury home market, the playgrounds of the rich and richer — New York, Miami and Palm Beach — are cashing in like never before. According to a new report from real estate firm Knight Frank, sales of homes priced at $10 million or more
DUBAI, United Arab Emirates — Dubai’s property scene is showing no sign of cooling off, as 2024 is on track to be another record year in terms of sales figures and property values, according to local real estate firms. Increasing demand for property, especially in the luxury space, is boosting prices not just of homes,
Tarpon Island, a private island in Palm Beach, Florida, sold for $150 million in May 2024. CNBC A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Sales of ultra-luxury homes surged in
Lucky fashionistas — including first lady Jill Biden, Anna Wintour and Usher — descended on a tony Hamptons horse farm last Thursday to watch Ralph Lauren’s Spring 2025 fashion show. The glam event, which included dinner for 250 guests at a Polo Bar pop-up on the property, took place at a 19.2-acre horse farm known
For months, economists have wrestled with the disconnect between how well the economy is doing and how badly people feel about their financial standing. Now, evidence suggests that the so-called “vibecession,” or that prolonged period of negative sentiment about the economy, appears to be ending, according to Michael Pearce, deputy chief U.S. economist at Oxford Economics. As inflation cools
Timothy Armoo, co-founder and former CEO of Fanbytes. Tim Armoo. Timothy Armoo, a co-founder and former CEO of influencer marketing firm Fanbytes, is not what you might expect from a multi-millionaire. He doesn’t own any mansions — or property at all — saying he prefers to spend some of his money on eclectic investments, ranging
Home is where the art is. On prestigious Gin Lane in Southampton, the light-filled property that the famed pop artist Roy Lichtenstein had long shared with his wife, the philanthropist Dorothy, has listed for $19.99 million, according to an eye-catching update on the Out East listings portal. This offering comes roughly 27 years following the
China’s property market has still not found a bottom despite all the turmoil in the past year, according to Standard Chartered CEO Bill Winters. Speaking to CNBC’s JP Ong, Winters described the investing environment in China as “difficult,” explaining that consumer confidence and international investor confidence was relatively low. “We know that the underlying source
Size isn’t everything. A prestigious ranking of the country’s best small towns has been published — and a charming locale just an hour’s drive from the hubbub of NYC has made the list. Compiled by editors at Travel + Leisure and a handful of industry experts, the America’s Best Small Towns 2024 survey tapped the larger-than-life
A Los Angeles abode once owned by the English actress Kate Beckinsale listed for sale on Friday, The Post has learned. Beckinsale paid $3.59 million for the Cape Cod-style home in 2006, then sold it for $3.99 million in 2021, a $400,000 profit. It now has a $4.29 million price tag. The 51-year-old is known
A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. United States real estate industry rules governing agent commissions will change on August 17 as part of a legal settlement between the National Association of Realtors and home sellers. (Photo by Patrick T. Fallon /
Nobel Prize-winning economist Joseph Stiglitz says the Federal Reserve should deliver a half-point interest rate cut at its forthcoming meeting, accusing the U.S. central bank of going “too far, too fast” with monetary policy tightening and making the inflation problem worse. His comments come ahead of Friday’s pivotal release of U.S. jobs data, with investors
Larry Silverstein is praying the third time’s the charm for Two World Trade Center. The developer is in serious talks with American Express to anchor or completely fill the delayed skyscraper, which needs a tenant for Silverstein to get construction financing, according to a report. The yet-to-be-built tower is the missing link in his otherwise