Real estate

Prominent art dealer Rudolf Budja lists colorful Florida estate for $29M

Prominent art dealer Rudolf Budja lists colorful Florida estate for $29M

Rudolf Budja, a prominent art dealer known for his collection of Andy Warhols and more than 8,000 original NASA space program prints dating back to the 1950s, has put his eclectic Florida home up for sale for a whopping $29 millions of dollars. Located on Miami Beach in the coveted Venetian Islands, the six-bedroom property …

Prominent art dealer Rudolf Budja lists colorful Florida estate for $29M Read More »

The housing market correction takes an unexpected turn

The housing market correction takes an unexpected turn

The Federal Reserve has a simple playbook for fighting inflation. It goes like this: Keep applying upward pressure on interest rates until business and consumer spending across the economy weakens and inflation recedes. Historically speaking, the Fed’s inflation-fighting playbook always hits the US housing market particularly hard. When it comes to housing transactions, monthly payments …

The housing market correction takes an unexpected turn Read More »

The dollar will weaken and these stocks could outperform, says Evercore

The dollar will weaken and these stocks could outperform, says Evercore

Hopes that the Fed may be less aggressive in raising borrowing costs than previously feared have spread rapidly in markets this past week. Stocks have risen as bond yields have fallen. And it has brought the dollar rampage to a screeching halt. The DXY dollar index, +0.49%, which hit a 20-year high above 108.5 in …

The dollar will weaken and these stocks could outperform, says Evercore Read More »

New housing market data reveals a stunning shift as these 21 of the top 50 metro areas show price declines for June

New housing market data reveals a stunning shift as these 21 of the top 50 metro areas show price declines for June

It’s finally happening. After soaring 40% from pre-pandemic levels in the biggest boom in decades, home prices peaked in June and started falling in July. That’s the startling, sudden change revealed in a new data set just released by the American Enterprise Institute’s Housing Center, a leading source for detailed city-by-city figures on everything from …

New housing market data reveals a stunning shift as these 21 of the top 50 metro areas show price declines for June Read More »

Redfin: These housing markets are the most at risk of falling home prices

Redfin: These housing markets are the most at risk of falling home prices

Homebuyers had enough. Spiked mortgage rates on top of record home price appreciation—up 42% since the onset of the pandemic—pushed monthly mortgage payments to a level that is simply unattainable for tens of millions of would-be buyers. As more buyers take a rain check, the housing market correction only gets more intense. This week, we …

Redfin: These housing markets are the most at risk of falling home prices Read More »

As Twitter rethinks its San Francisco footprint, a bigger $9 billion question hangs over the city’s office market

As Twitter rethinks its San Francisco footprint, a bigger $9 billion question hangs over the city's office market

Twitter Inc. put its large office presence in San Francisco under review for downsizing on Wednesday, declining to open an office in Oakland, California, a person with direct knowledge of the matter said. The move clouds the future of the social networking site’s posh San Francisco headquarters, a 1.1 million-square-foot trophy office complex at 1355 …

As Twitter rethinks its San Francisco footprint, a bigger $9 billion question hangs over the city’s office market Read More »

China’s property sales are set to plunge 30% — worse than in 2008, S&P says

China's property sales are set to plunge 30% — worse than in 2008, S&P says

Most apartments in China are sold before developers finish building them. In the photo, on June 18, 2022, people select apartments in a development in Huai’an, Jiangsu province, near Shanghai. Future publications | Future publications | fake images BEIJING — Property sales in China will plunge this year more than during the 2008 financial crisis, …

China’s property sales are set to plunge 30% — worse than in 2008, S&P says Read More »

Millennials’ average net worth more than doubled during the pandemic. Here’s what advisors say they should do next

Millennials' average net worth more than doubled during the pandemic. Here’s what advisors say they should do next

andres | E+ | fake images Relief from Covid-19 and interest rates at record lows have boosted the finances of many Americans during the pandemic. That has been especially true for millennials, who on average have amassed significant wealth. Millennials, born between 1981 and 1996, have more than doubled their total net worth, reaching $9.38 …

Millennials’ average net worth more than doubled during the pandemic. Here’s what advisors say they should do next Read More »