Vehicles drive by unfinished residential buildings from the Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China September 16, 2021. Carlos Garcia Rawlins | Reuters The debt problems facing China’s property sector are likely to cause a period of stagnation which affects both the domestic and global economy, according to George Magnus,
skynesher | E+ | Getty Images It’s no secret that there is a gender pay gap in the U.S. Women earned just 84% of what men made in 2020, according to the Pew Research Center. Consequently, it would take female workers an extra 42 days to make the same income men did that year. Now,
A property for sale in Monterey Park, California Frederic J. Brown | AFP | Getty Images Mortgage rates fell for the second straight week last week, and that helped boost refinance demand for the first time in a while. As a result, total mortgage application volume rose 5.5% last week compared with the previous week,
During the Covid pandemic, home prices have shot up nearly nationwide while household income fell. As a result, homeownership became out of reach for many would-be buyers. However, affordability was a growing problem well before 2020 and the start of the pandemic. In the last decade, the median home price rose roughly 30% and incomes
Only 28% of Manhattan office workers are back at their desks and fewer than half will return by January, according to a new survey. Employers expect that 49% of office workers will return on an average weekday by January, according to a survey of 188 big employers in Manhattan by the Partnership for New York
PeopleImages | Getty Images In a sizzling housing market, some military families using VA loans are struggling to buy homes, real estate experts say. VA loans, mortgages partly guaranteed by the U.S. Department of Veterans Affairs, financed 14% of home purchases from July 2019 to June 2020, according to the National Association of Realtors. The
Frederic J. Brown | AFP | Getty Images For Stacey Foley, refinancing her mortgage was a no-brainer. After paying roughly 4.25% in interest on her existing home loan, refinancing at 3.25% with limited closing costs has saved her $200 monthly. “Two hundred dollars doesn’t sound like a lot of money, but over a year it
Source: Douglas Elliman Pent-up demand, a roaring stock market and extremely low interest rates are melding together to create a record-breaking luxury real estate market in Manhattan. “Leading up to the pandemic, the high end of the market was the weakest segment of the market. However, since the end of the lockdown, it’s inverted –
CHUNYIP WONG | iStock | Getty Images As the struggles for renters continue, at least eight states and more than 20 cities have policies in place to keep families protected from eviction. Even as the country pulls out of the pandemic, more than 15% of adult renters still report being behind, with as many as
Here’s some posies for your pockets. McQueens Flowers — the British florist known for decking the halls of haute hotels and posh parties like New York Fashion Week, Wimbledon and Vanity Fair’s Oscar Party — has officially crossed the pond and opened a studio in NYC’s Flower District. “We’ve got lovely clients, wonderful VIPs, who
As New Yorkers struggle with higher gas and grocery prices amid record-high inflation rates, the cost of rent is also increasing — and isn’t expected to level off anytime soon, according to data and experts. The net effective median rent in Manhattan increased by a whopping 10.1 percent between July and October and 20 percent
Home sweet … homes? A portfolio of eight historic mansions in Michigan’s upper peninsula — whose stately features include fireplaces, intricate moldings, wood-beamed ceilings and stained-glass windows — have hit the market for a combined $3.49 million, the listing brokerage told The Post. This 13,000-square-foot Victorian property is among the gets.Nick Asplund, Signature Sotheby’s International
The sky’s the limit in Dumbo when it comes to shattering real estate records. Front & York, a new 21-story luxury property co-developed by CIM Group and LIVWRK, can now claim bragging rights to Dumbo’s most expensive condo sale since 2017 with Penthouse B in contract for $8.75 million. The four-bedroom, four-bath, 3,068 square-foot penthouse
For the first time in its history, none of New York City’s ZIP codes ranked in the top 20 most expensive neighborhoods. According to PropertyShark’s latest report, Manhattan is still having trouble bouncing back to pre-COVID levels, despite the city’s resurgence in the real estate market in the last few months. Although NYC rental prices