Opinion: The Federal Reserve is missing a crucial turning point in its fight against inflation because it believes in flawed data

Opinion: The Federal Reserve is missing a crucial turning point in its fight against inflation because it believes in flawed data

The Federal Reserve can’t see the probable economic crash that is coming because it’s still looking into the rearview mirror, where it sees nothing but high inflation. The danger arises because the consumer price index and the personal consumption expenditure price index — the two most important inflation gauges — have a fatal flaw in … Read more

Mortgage rates hit 6.29%, Freddie Mac says and rents fell in August for the first time since November 2021

Mortgage rates hit 6.29%, Freddie Mac says and rents fell in August for the first time since November 2021

Hi, MarketWatchers. Don’t miss these top stories. Rents fell in August for the first time since November 2021, but tenants are still struggling. Here’s why. Rents dropped from July to August, and annual growth appears to be slowing down. Read More How much should I tip my housekeeper? My husband says that we should tip … Read more

‘We’re seeing a complete reversal of market conditions in just 12 months’: Rents fell from July to August — the first decline in nearly two years

‘We’re seeing a complete reversal of market conditions in just 12 months’: Rents fell from July to August — the first decline in nearly two years

At last, a glimmer of hope for tenants: asking rents for apartments fell actually between July and August, according to a new Apartments.com analysis — breaking a 20-month growth streak. “We’re seeing a complete reversal of market conditions in just 12 months, going from demand significantly outstripping available units to now new deliveries outpacing lackluster … Read more

Housing’s ‘great slowdown’ is here, as mortgage originations and spending fall, Bank of America says and these cost-effective cooking tips won’t leave you with an empty stomach — or wallet

Mortgage rates hit 6.29%, Freddie Mac says and rents fell in August for the first time since November 2021

Hi, MarketWatchers. Don’t miss these top stories. This startup founded by former Airbnb employees lets you try out vacation homes before you buy them Try before you buy: second-home edition. Read More Housing’s ‘great slowdown’ is here, as mortgage originations and spending fail, Bank of America says A new report from the Bank of America … Read more

End of New York City Tax Incentive Imperils Apartment Construction

End of New York City Tax Incentive Imperils Apartment Construction

New York City’s multifamily development faces an unsettled future following the expiration of the main tax incentive for affordable housing, real-estate investors and analysts say. The Affordable New York tax provision, commonly known as 421a, offered a property tax exemption for housing projects in New York City that include a percentage of units earmarked for … Read more

‘Peak inflation is not here yet’: Rents continue to rise, putting pressure on would-be homebuyers. That’s bad news for the Fed.

‘Peak inflation is not here yet’: Rents continue to rise, putting pressure on would-be homebuyers.  That’s bad news for the Fed.

Rents will continue to rise, contributing to inflation, until the end of the year, economists say. With home prices and mortgage rates this high, many prospective homeowners are choosing to rent longer, opting to wait it out until prices normalize. But rents are also increasing, helped along by a housing-supply shortage that’s hiking the cost … Read more

New York City Apartment Buildings to Sell for $1.75 Billion in Record Pandemic Deal

New York City Apartment Buildings to Sell for .75 Billion in Record Pandemic Deal

A venture of a New York investment firm and a US residential developer has agreed to pay $1.75 billion for six Manhattan rental apartment buildings, according to people familiar with the matter, the highest price tag for a New York multifamily portfolio since the beginning of the pandemic . The planned purchase of the portfolio, … Read more

3 markets in which housing is more affordable than its historical average

3 markets in which housing is more affordable than its historical average

Here’s where housing is relatively affordable. Getty Images Home prices have skyrocketed in recent years, with CoreLogic revealing in its latest report that home prices grew by 20.9% year over year in April 2022, marking the 123rd month of price gains. Mortgage interest rates have been rising too, with some pros saying we’ll see more … Read more