Finance & Mortgage
- U.S. Existing Home Sales Fell in October on Limited Supply, High Mortgage Rates and Partial Govt. Shut-Down
- Sales of existing homes in the U.S. fell 3.2 percent on a month on month basis due to a tight inventory supply, high mortgage rates and the 16-day partial government shutdown, according to a latest report by the National Association of Realtors.
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- U.S. Housing Affordability Declines as Mortgage Rates and Home Prices Spike: NAHB
- According to a recent report by the National Association of the Home Builders (NAHB), housing affordability declined across the U.S. in the third quarter of 2013 as home prices soared and interest rates jumped.
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- Dish Closing Down 300 Blockbuster LLC Stores Across US
- Dish Network Corp. is reportedly pulling the shutter on the 300 remaining stores of its subsidiary home entertainment giant, Blockbuster LLC. It announced in an official statement Wednesday that the outlets will be shut down by January 2014.
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- ‘Transformer 4’ Director, Michael Bay Attacked on Hong Kong Sets by Shopkeeper Demanding Rent for Space Invasion and Disturbance
- A latest incident might be a reflection of the growing frustration of shop owners in Hong Kong on the rising property costs in the area. Michael Bay, the director of the upcoming sequel to sci-fi flick ‘Transformer 4’ was attacked by a shop keeper on the sets of the movie, according to several news reports.
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- Empire State Building IPO Disappoints; Raises $929.5 Million at $13 per Share
- The Empire State Realty Trust (ESRT) debuted on the New York Stock Exchange Wednesday, raising $929.5 million in its Initial Public Offering (IPO) pricing 71.5 million shares at $13 per unit, according to several news reports. The IPO under-performed, gaining only a modest 3 percent in early trading.
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- Indiana Regional MLS: One of the Latest to Join League of Listing Websites
- Indiana-based realtors have teamed up to form the Indiana Regional MLS which will help agents and buyers alike in their real estate endeavours. The state-focussed multiple listing service will not only eliminate costs for agents but will also ensure complete listing data accuracy and access, according to some news reports.
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- Empire State Building REIT Seeking up to $1.07 Billion in IPO; To Debut October 1
- Empire State Realty Trust Inc, the real estate investment trust that snaked its way through various controversies is all set to launch October 1. It plans to launch an Initial Public Offering (IPO) of 71.5 million shares at $15 to $13 a share, seeking up to $1.07 in its debut offering, according to a regulatory filing Thursday.
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- Home Prices in China Continue to Rise in July despite Government Curbs
- Home prices continued to rise in most major cities of China despite the stringent property curbs imposed by the government in the recent past. Prices rose in 69 of 70 major cities marking the strongest annual gains, according to several media reports.
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- More American Homes Sold through Complete Cash Transactions: Goldman Sachs Survey
- Almost all homes that sold in 2012 and in the first half of 2013 were financed by all-cash transactions, a new survey by financial firm Goldman Sachs Group found.
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- UAE Commercial Real Estate Mapping Speedy Recovery: RICS Survey
- The commercial real estate market of the United Arab Emirates has been rebounding and showing great signs of recovery, according to a recent quarter survey by the Royal Institution of Chartered Surveyors (RICS). Due to increased foreign investment and interest in the sector, the region’s growth has accelerated commendably.
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- NAHB Report: August Sees 247 Improving Markets in US
- The First American Improving Markets Index (IMI) of the National Association of Home Builders (NAHB) released Thursday the list of improving housing markets in the U.S., which included 247 metropolitan areas.
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- President Obama Pitches Plans to Support US Housing Recovery; Overhaul Mortgage and Lending Market (VIDEO)
- U.S. President Barack Obama pitched some new mortgage and lending plans to the public in his economic speech Tuesday at Dobson High School in Mesa, Arizona. In his speech he sketched out various plans to overhaul the lending market and asserted on the importance of private lending without ruling out the government involvement in the sector.
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- The Empire State Building REIT Saga Continues; Bids Could Delay IPO
- The Empire State Building in New York City is one of the most iconic and legendary structures of the country. Nothing about it is mediocre. Therefore, when Malkin Holdings LLC, the company that manages the building, decided to roll it into a public Real Estate Investment Trust (REIT), an equally controversial series of events followed. Since the Malkins victory over the opposing shareholders, continuous bids to purchase buildings part of the portfolio have been pouring in. Many affluent developers and investors have been betting some good cash on the Empire State Building alone.
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- Brookfield Asset Management Raises $4.4 Billion for Real estate Fund Surpassing Target
- Brookfield Asset Management Inc, the Canadian asset managing firm, has reportedly raise $4.4 billion for its global real estate fund. The amount is one of the largest raised since the financial crisis and has surpassed the $3.5 billion target, the company actually affixed, according to several media reports.
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- US Home Sales Drop Unexpectedly in June; Remain at 3.5 Year High
- Home sales in the U.S. witnessed a slight unexpected dip in the month of June as average mortgage rates climbed a little. However, the current figures of sales remain at a three and a half year high, according to the data released by the National Association of Realtors (NAR).
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