Mortgage rates shot higher last week, as stronger economic data stoked more fear that the Federal Reserve will not lower interest rates anytime soon. In turn, mortgage demand dropped to the lowest level since the end of February.
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Steep competition in the housing market and low supply are heating up home prices again.
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Attention, new college grads! Looking for the best place to start adulting?
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They call it the “debt wall,” and it is not the kind of wall that protects you. It’s the kind that might collapse and crush your village, or into which you might crash your car. Specifically, it is $1.5 trillion in commercial real estate debt, owed to banks, pension funds, and insurance companies before the end of 2025, and secured by a national portfolio of office, retail, industrial, and multifamily properties that may not be worth what they were five or 10 years ago when those loans got made.
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Librarian Miki Goral has lived in the massive Westside residential complex Barrington Plaza for more than three decades. She swims in the large, heated pool nearly every day and, from her one-bedroom apartment on the 10th floor, she has a view of the ocean. The building is a 15-minute bus ride from her job at UCLA and it’s rent-controlled, allowing her to retain some certainty over housing costs even as rents in the neighborhood have skyrocketed.
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ORLANDO, Fla. — Rent is a sore subject for many in Orlando.
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The average rate on the popular 30-year fixed mortgage crossed over 7% on Tuesday, according to Mortgage News Daily. That is the highest level since early March.
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Rent is growing faster than incomes around the country, putting additional pressure on inflation-burdened households.
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The office real estate market has been facing unprecedented challenges as the ripple effects of the pandemic continue to wreak havoc on the commercial property sector. At the moment, one of the biggest risks the commercial market faces is the growing risk of commercial mortgage-backed securities (CMBS) loan defaults, which have been exacerbated by a decline in demand for office space and rising interest rates.
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The Florida Legislature recently passed statutory changes that, among other things, reduce the time condominium and property owners have to file lawsuits over construction defects from ten years to seven years. This means that owners purchasing newly constructed properties years after construction could be left with no recourse if the property was defectively designed or constructed.
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