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Housing market

Housing market

Mortgage rates are declining, but buyers still need some coaxing to get back into the market. Signs in the market have analysts suggesting the worst of the current mortgage cycle may be behind us in 2024.
  • Business
    Bloomberg

    Real Estate Market Is Broken for Everyone Except the Ultra Rich

    (Bloomberg) -- One of the least affordable US housing markets in decades is freezing residential real estate sales and shutting out a generation of aspiring homeowners. But one group remains unfazed by the crisis: the wealthy.Most Read from BloombergHarris Just Showed Why Trump Is So Afraid of HerI Changed My Mind. The Fed Needs to Cut Rates Now.Stocks Tumble as Wall Street Gets AI Wake-Up Call: Markets WrapWhat Initial Polling Data Show About the Trump-Harris MatchupHarris Targets Trump by Rais

  • Business
    Reuters

    Blackstone's battered mortgage fund slumps as empty offices intensify pressure

    NEW YORK (Reuters) -Shares of commercial real estate finance company Blackstone Mortgage Trust fell 10% on Wednesday as the firm cut its dividend 24%, facing continued strains from vacant offices. It is the latest sign of mounting woes in commercial real estate. The shift has left broad swaths of office space empty, while elevated interest rates have left many borrowers struggling to make timely payments on their loans.

  • Business
    Yahoo Finance

    New home sales hit 7-month low in June as high mortgage rates pressure buyers

    Sales of newly built homes fell 0.6% to 617,000 annual pace in June, according to government data released Wednesday.