Builder confidence is surging for the second consecutive month, hitting a record high of 85 in October, according to the National Association of Home Builders (NAHB/Wells Fargo) Housing Market Index (HMI). The index reached 83 in September, the first time it was higher than 80. ...
Many U.S. commercial properties have lost 25 percent or more of their value as the impact of the coronavirus has taken its toll on hotels, malls and other nonresidential buildings. The Financial Times (FT) reported the evidence of the losses can be seen in the...
Retail sales have seen very modest year-over-year gains since June, but many brick-and-mortar operations continue to suffer amid the pandemic. PJ SOLOMON, the New York global investment financial services company, and the National Retail Federation (NRF), the world’s largest retail trade association, announced on Thursday...
The nation’s banks are anxious about getting loans repaid that are secured against empty office buildings, hotels and malls. Disclosure of these so-called criticized loans, which are warning signs about a borrower’s ability to pay, revealed of the 10 banks that have seen the largest...
The pandemic has shifted attention to every dollar we spend, focusing on necessities, such as shelter and food. As far as housing is concerned, the U.S. has an affordable housing problem — where decent housing is out of reach for millions of low-income Americans. One...
Pinterest is canceling its upcoming lease to move into a San Francisco office that it doesn’t need because its workers will be working from home, a report Monday (Aug. 31) from KCBS Radio said. The plan was for the social media tech giant to lease...
The great digital shift might upend the way we get mortgages, transforming a $2.1 trillion industry weighed down by time-consuming processes to one that is faster and more transparent. Anyone who has walked into a branch bank to buy property — or is sitting in...
As the U.K.’s banks reconfigure their branches to accommodate a COVID-19 world, some are converting portions of the underused real estate into office space. The Financial Times (FT) reported some banks will use the branches as an alternative to high-rise headquarters. So far, Virgin Money...
Housing market activity as measured by the signing of sales contracts rose for the third consecutive month, the National Association of Realtors (NAR) said on Thursday (Aug. 27). The Washington, D.C.-based trade group stated in a news release that all four of the group’s major...
