Electrical issues are becoming more commonplace



Old and faulty wiring is becoming more of an issue in people’s homes due to ongoing lockdowns. Experts say that electrical problems are emerging more because the remote work and education trends mean that more people are using devices at home for longer, and that is putting additional strain on old fuse boxes and fraying […]

States offering to pay off student debts for young professionals who buy a home



Some U.S. states are trying to tempt young professionals to set up home there by offering to pay off their student debts in exchange for buying their first properties there. The recently launched “SmartBuy” programs in the states of Illinois and Maryland offer to pay off the student loan debts of young adults who obtain […]

Foreclosure activity rises, prompting fears of more to come



Housing market analysts have raised concerns that we could see a rise in foreclosures once COVID-19 pandemic-related moratoriums end, and indeed, activity is already increasing even with those bans in place. A report from ATTOM Data Solutions this week shows that foreclosure filings in March rose by 5% compared to the previous month, even as […]

Freddie Mac says 4 million more homes needed to meet housing demand



Analysis by Freddie Mac has revealed that the U.S. needs almost 4 million more homes to be listed for sale in order to meet the current high level of demand. Freddie Mac said in its analysis that there’s a total shortfall of 3.8 million homes for sale in the U.S., a 52% increase in the […]

Advocates call for vacant commercial space to be converted into affordable housing



With those of commercial buildings sitting empty due to the coronavirus pandemic, some are looking to repurpose those spaces for affordable housing. The onset of COVID-19 and the need for social distancing has resulted in hundreds of hotels sitting empty, while offices remain vacant as people work from home instead. The sudden availability of all […]

Shopping malls are on the road to recovery, analyst says



With COVID-19 vaccination campaigns now in full swing, more Americans are getting out and about again, and many are returning to once vacant indoor malls. Foot traffic data from the retail analytics firm Placer.ai shows that visits to 50 major malls in the U.S. rose by 86% in March compared to one year ago. Of […]

Some people are buying their second homes first



Although it may seem to be at odds with convention, a growing number of renters are buying second, vacation properties even before they purchase their primary residence. Real estate industry watchers say the trend is borne from the COVID-19 pandemic, and that with remote work now a permanent fixture of many people’s lives, they’re taking […]

NY lawmakers want more transparency from co-ops



Lawmakers in New York are trying to push through a bill that would force co-op boards to explain why they reject potential buyers of their apartments. The bill is meant to prevent discrimination by co-ops when they make such decisions, proponents of the new law say. If the state senate bill is approved, it would […]

Rick Caruso’s real estate firm now accepts bitcoin



Billionaire Rick Caruso’s namesake real estate firm Caruso has said it will accept bitcoin

Beverly Park home sells at auction for record price of $51M



A 28,600-square-foot, Italian-inspired mansion in Beverly Park, Calif., has just gone under the hammer for a whopping $51 million, making it the most expensive home ever sold in a U.S. auction. The buyer of the Villa Firenze also made an additional deal for the home’s furnishings, bringing the total transaction amount to $60 million, the […]