They are usually reserved for homebuyers, but bidding wars are becoming more common in the rental home market. Demand for apartment and single-family rentals is surging and outpacing supply. As the economy improves, workers are moving out of shared living situations and looking for their own homes. In addition, the housing market is so expensive
Kseniya Ragozina | Getty Images Small investors who might not have the funds – or the stomach to be landlords – have a new option to get in on the lucrative single-family rental market. Fundrise, which started in 2012 as a crowdfunding platform for commercial real estate, is broadening its scope to single-family rental homes.
More than 11 million Americans continue to report being behind on their rent. How much renters owe varies greatly from one state and county to the next, according to data provided to CNBC by Surgo Ventures, a nonprofit organization focusing on health and data. Across the country, the average renter in arrears owes $3,700. The
Lucy Nicholson | Reuters The Centers for Disease Control and Prevention on Tuesday released a new federal eviction moratorium, just days after the previous ban expired on July 31. The new rules bought more time for some, but not all, of the millions of renters facing eviction. It’s also increased confusion for many in danger
In this article MGP VICI MGM Resorts International President and CEO Bill Hornbuckle is interviewed during the launch of the 100-megawatt MGM Resorts Mega Solar Array, the hospitality industry’s largest directly sourced renewable electricity project in the world on June 28, 2021 in Dry Lake Valley, Nevada. Gabe Ginsberg | Getty Images Real estate investment
Richard Stephen | iStock | Getty Images Leopold broke down his bed and his children’s bunk beds and packed up his belongings, preparing for himself, his wife and their six children to become homeless. “I was trembling,” said Leopold, who asked to use his first name only because of the stigma attached to eviction. “But
Pent-up demand is bringing shoppers back to malls like the Mall of America in Minneapolis. Owen Franken | Corbis Documentary | Getty Images After being hobbled by the pandemic recession, real estate investment trusts are rebounding rapidly, and the economic recovery isn’t the only thing driving growth this year. Share prices are rising from demand
Bill Oxford | iStock | Getty Images Although the national ban on evictions is now over, a number of states have issued their own protections for renters that will last for months more. These local policies can buy tenants time to get approved for federal rental assistance and help them to stay in their homes.
A real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Pending sales of existing homes in June, which are measured by signed contracts, fell 1.9% month-to-month, according to the National Association of Realtors. Sales were also down 1.9% compared
teekid | E+ | Getty Images Although the national ban on evictions that’s been in effect for almost a year will expire tomorrow, there’s still time for struggling renters to apply for federal aid. Congress has allocated more than $45 billion in rental assistance to address the crisis, and only a sliver of the money
In this article VNO The inside floor of a Wegmans grocery store. Photo by Aditi Shrikant Wegmans Food Markets announced Thursday that it will be opening its second location in New York City and its first in Manhattan, as it moves into the old Kmart location at Astor Place. The grocery chain with a cult-like
In this article KIM Foot traffic at Kimco Realty‘s shopping centers has returned to pre-pandemic levels, CEO Conor Flynn told CNBC on Thursday. “Traffic is back to 2019 levels, and we have a real playbook now that we can follow thanks to all the lessons learned through the pandemic,” Flynn said on “The Exchange.” “We
Focqus, LLC | iStock | Getty Images President Joe Biden is calling on Congress to extend the national eviction ban set to expire in two days. “This moratorium prevented hundreds of thousands of Americans from experiencing the heartbreak, homelessness and health risks that too often emanate from evictions — particularly during a pandemic,” White House
Major credit ratings agencies this week downgraded China’s most indebted property developer Evergrande, as concerns over Asia’s junk bond sector rise. Fitch Ratings on Wednesday downgraded China Evergrande one notch from B to CCC, saying that the negative developments surrounding Evergrande may weaken investor confidence, further pressuring its liquidity. A rating of CCC means there’s
A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open house in West Hempstead, New York. Raychel Brightman | Newsday LLC | Newsday | Getty Images The popular 30-year fixed mortgage rate fell back to the lowest level since February last week, and the 15-year
The Federal Reserve said Wednesday it will keep its benchmark interest rate near zero despite signs inflation is heating up. While rising prices brought on by supply constraints and a sudden spike in consumer demand are paving the way for the Fed to unwind last year’s bond buying, the central bank said it is sticking with ultra-accommodative
Houses for sale at a real estate summit & trade fair in Beijing, China. Zhang Peng | LightRocket | Getty Images U.S. homebuyers went on a buying spree during much of the coronavirus pandemic‘s first year. International buyers did just the opposite, though. Even with virtual options in place for property tours, sales of U.S.
The race to reduce carbon emissions is heating up, much like the planet itself is. But reducing emissions alone will not be enough to stop what’s happening. It is not even enough to reach the goal of the Paris climate agreement, which is to limit global in this century to 1.5 degrees Celsius above preindustrial
Protesters surround the Los Angeles Superior Court on August 21, 2020 to prevent an upcoming wave of evictions in the city. Lucy Nicholson | Reuters Renters struggling with housing costs because of the pandemic have been shielded from eviction for nearly a year, but now the national ban on such proceedings will expire on July
A home stands for sale in a Brooklyn neighborhood with a limited supply of single family homes on March 31, 2021 in New York City. Spencer Platt | Getty Images After four straight months of declines, sales of previously owned homes rose 1.4% in June month-to-month to a seasonally adjust annualized rate of 5.86 million