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AdvertisementFor decades, the city's restrictive zoning and land-use policies have made missing-middle housing almost impossible to build. But there aren't many options, particularly for homeownership, between mostly high-end apartments and prohibitively expensive single-family homes. But he's concerned the law won't do enough to shorten the permitting process for missing-middle housing construction. The HOME Act will encourage the construction of smaller single-family homes and promote density, making housing — particularly homeownership — more affordable. Turner just wants the city to "level the playing field" for developers who are willing to build missing-middle housing.
Persons: , Scott Turner, Turner, Austin's, Austin, Eliza Relman, that's, he's, Brennan Griffin, Joe Sohm, Brandon Bell, Greg Anderson, Anderson, there's, It's, Nicole Nabulsi Nosek, I've, townhomes Organizations: Service, Business, Riverside Homes, Austin, Austin Business, Texas, HOME, Austin Habitat, Humanity, Texans, Reasonable, Democrats Locations: Austin, Austin , Texas, Texas, Manor, Georgetown, City Hall
But at least we found it.”Headstones at the Piney Grove Cemetery are seen amid trees and overgrowth. Melissa BuggA hub for Black communitiesAt the beginning of the 20th century, Piney Grove Cemetery was part of a thriving African American community. Fallen trees and overgrowth at the Piney Grove Cemetery in Atlanta. The lawsuit seeks a declaration from the court that Piney Grove is a public cemetery and an injunction mandating the HOA maintain and provide access to the cemetery. No.”A broken headstone is seen at the Piney Grove Cemetery in Atlanta.
Persons: Audrey Collins, Collins, that’s, HOA, ” Collins, Rhonda Jackson, , ” Jackson, Melissa Bugg, Jackson, CNN Collins, ” Kathryn Whitlock, Whitlock, ” John Wesley Wright, it’s, , Wright Mitchell, “ That’s, ” Mitchell, Bagley, , Organizations: Atlanta CNN, Georgia Trust, Historic Preservation, Piney Grove Baptist, Lenox Homeowners Association, Piney Grove Baptist Church, Atlanta City Council, CNN, HOA, Atlanta . Georgia Trust, Historic Locations: Piney Grove, Buckhead, Atlanta, Piney Grove Baptist Church, Georgia, HOA, , Piney, Atlanta ., Lynwood, Johnsontown
"Why aren't we talking about the most terrifying part of Love is Blind: this Charlotte housing development," one viewer posted on X alongside an aerial image of the newly-built cookie-cutter rowhouses. I think my favorite part of this season of Love is Blind is how horrible it makes Charlotte look as a city. But you're still doing the wrong thing," Toderian said of Blu South. "Some folks estimate that before this went into effect, about 84% of the residential land in Charlotte was restricted to only single-family housing," Lallinger said. Editor's note: March 7, 2024 — This article was updated after publication to include a comment from Blu South.
Persons: , Netflix's, what's, Charlotte, who've, there's, Stefan Lallinger, Yongqiang Chu, Chu, it's, Brent Toderian, Toderian, Charlotte's, UDO, Lallinger, quadruplexes, Stephanie Watkins, Cruz, Watkins, townhomes Organizations: Service, Business, University of North, Blu, North, North Carolina Housing Coalition Locations: Charlotte , North Carolina, Pineville, exurbs, Charlotte, University of North Carolina, they're, North Carolina
Since October, unrelenting war has squeezed people farther and farther south, pushing them to Rafah, the final stretch of Gazan territory before the Egyptian border. Now this small section of Gaza, which already has experienced an abundance of suffering, faces the prospect of additional hardship and heartache. Parties to the conflict have blatantly committed grave violations against children – including killing, maiming, kidnappings, attacks on schools and hospitals and the denial of humanitarian access. Injured children are reporting to the few remaining functional hospitals with severe burns, injuries that require amputation, open wounds and other serious traumas. Most of the children in Rafah have already been displaced multiple times by the fighting in Gaza, in direct contravention of international law.
Persons: Catherine Russell, Danielle Deeb, Gazans Organizations: UNICEF, CNN Locations: Gaza, Rafah, Egypt, New York City, Washington, Palestinian
New York CNN —Retail investors are optimistic about the stock market again despite a backdrop of geopolitical and economic uncertainty. CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, closed at an “extreme greed” reading on Thursday. Unsurprisingly, investors are largely bullish on artificial intelligence-related stocks over the next three months, according to the Schwab survey. The job market has also stayed remarkably strong even as interest rates hover around a 23-year high, helping keep recession worries at bay. About 48% of traders believe the US will likely avoid a recession this year, up from 23% last quarter, according to the Schwab survey.
Persons: Charles Schwab, Schwab, , James Kostulias, stoking, Anna Bahney, , Lawrence Yun, Read, Henri Nestlé, Wegovy, Hanna Ziady, Mark Schneider, ” Read Organizations: CNN Business, Bell, New York CNN, Retail, , Dow Jones, Bureau of Labor Statistics, Federal, National Association of Realtors, NAR Locations: New York, United Kingdom, Japan, Washington, Swiss
January is usually a sleepier month for home sales, but prices reached a record high for the month. First time homebuyers face steep challengesIn January the share of first-time home buyers dropped to 28%, falling under a healthy market share of 30%. In addition to rising mortgage rates, elevated prices and still stubbornly low inventory levels, first-time homebuyers are facing steep competition from other buyers. Homeowners with ultra low rates are unwilling to sell and buy a home during a time of higher prevailing market rates. And while a drop of rates in December and January boosted sales, rising rates may cool buyer’s interest even as the spring selling season is underway.
Persons: , , Lawrence Yun, Yun Organizations: DC CNN —, National Association of Realtors, NAR, Locations: Washington, Boston, Carolinas
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. More people living closer together is necessary to create more affordable and inclusive neighborhoods, housing advocates say. The research, which involved surveying almost 1,900 people living in 15 municipalities in the Vancouver region of British Columbia, found no evidence that higher-density living is associated with decreased happiness, social connection, or well-being. AdvertisementWell-designed density — think pedestrian-friendly streets with easy access to transit and amenities like shops, restaurants, and parks — was positively correlated with well-being and happiness. These findings are important for city planners and builders to understand, so they can incorporate design elements that promote well-being.
Persons: , Tristan Cleveland, Cleveland, Madeleine Hebert, North America aren't, They're, Hebert Organizations: Service, Business, Happy Cities Locations: North America, Cities, Cleveland, Vancouver, British Columbia, walkable, , townhomes
But unlike its coastal counterparts, Houston's homes are much cheaper and more abundant. Advertisement"It's really a way to limit housing construction," said Emily Hamilton, a housing researcher at the Mercatus Center at George Mason University. She added that minimum lot sizes maintain "a homogenous type of housing construction with often a high floor on how expensive it has to be." The policy change has spurred the construction of almost 80,000 new homes, many of them townhouses and other kinds of small-lot single-family homes. But the massive success of Houston's minimum lot size reform is getting noticed across Texas and around the country.
Persons: , Emily Hamilton, Joseph Gyourko, Sean McCulloch, Hamilton, It's, it's, Nolan Gray, Freund, Brett Coomer, We're, Gray, Salim Furth Organizations: Service, Space, Business, George Mason University, California, Freund St, Houston Locations: Houston , Texas, New York City, San Francisco, Houston, walkable, Texas, Austin , Texas, Auburn , Maine, Helena , Montana, Arizona , Massachusetts, New York
We're transitioning from a sleepy capital city into a midsize-to-major city," Jonathan Melton, a member of Raleigh's City Council, told me. The first wants to solve the problem of too little housing by, well, building more housing. But Melton and the YIMBYs' vision rankled some Raleigh residents who eventually started to push back on what they considered extreme pro-development policies. The new buses seem like a great idea, but as with all these changes, residents are worried that the route will have unintended consequences. It's worth noting, too, that most Raleigh residents, even those who oppose the current pace of development, point to some positives.
Persons: Raleigh, I've, Jonathan Melton, Zillow, Raleighites, We're, Frank Hielema, Hayes, Barton, Margie Case, Hayes Barton, Kesha Monk, Monk, who've, she'd, they'd, shudder, Adam Terando, Terando, Melton, that'll, Shaw, she's, Case, there's, There's Organizations: Raleigh's City Council, Council, Raleigh, Public, Shaw University, Raleigh City Council, New, Seaboard Station, Seaboard, City Council Locations: Raleigh , North Carolina, Southern, Wake County, Raleigh, Oaks, Raleigh's, Melton, Hayes Barton, Hayes, Hielema, Biltmore, New York, Los Angeles, San Francisco, Vermont, Austin, Cleveland, Scottsdale , Arizona, Wake, New Bern, downtown Raleigh, New York City, downtown that's
As people age, they need homes that are more accessible and easier to maintain. Large homes often have multiple floors, yards, and other features that make them trickier to navigate for older people. AdvertisementSchuetz says there's not a dearth of large homes in the US. Instead, there's really just a mismatch between large homes and occupants who don't need them. But many more family-sized apartments and other homes will need to be built to make up for the lack of large homes on the market.
Persons: , Jenny Schuetz, Redfin, Schuetz, Daryl Fairweather, Redfin's, I've, Fairweather, it's, there's Organizations: Service, Business, Brookings Institution
Experts in housing, building, and urban planning say it may be difficult to convert office space to livable, likeable residential housing, but there’s an urgent reason they’re trying. More office space is sitting empty in the United States than at any point since 1979, Moody’s Analytics reported earlier this week. By some estimates, only 3% of New York City office buildings and 2% in downtown Denver are suited for residential conversions. Office space and homes are two fundamentally different types of buildings, according to builders and architects. Do you have another building where you can move them?”As result, according to Theodos, office conversions are not a solution to either the empty office glut or the housing supply shortage.
Persons: Biden, , Harold Bordwin, Keen, Brett Theodos, ” Bordwin, , ” Maren Reepmeyer, ” Theodos, , Nathaniel Meyersohn, Donald Judd Organizations: DC CNN, Moody’s, National Association of Realtors, Summit Capital Partners, Metropolitan Housing, Policy Center, Urban Institute, , CBRE, Wacker, Chicago Business Locations: Washington, New York, Boston, Cleveland, United States, Manhattan, , New York City, Denver, Chicago, Theodos
Veev also promised they would be green and less expensive, thanks to its factory process. The Veev representative said "no employee was requested to do so as a policy." The Veev representative said "production lines were not idle," and design errors were inevitable because the company was still testing its product. "While the Series D money was committed, not all of it was received," the Veev representative said. "Veev and Lennar made a joint decision to stop building the Gramercy project," the Veev representative wrote.
Persons: Henry Ford, Veev, Lennar, Elon, Veev Veev, Amit Haller, Ami Avrahami, Dafna Akiva, Haller, Ari Rauch, Rauch, Bond, Calcalist, I've, Scott Long, thatit, Long, Veev's Organizations: Federal Reserve, Business, Katerra, Industry, American, BI, NSF, Fortune, Employees, Dow Chemical, Lennar, Gramercy, Hayward, Wall LLC Locations: Hayward , California, homebuilding, San Carlos , California, Tel Aviv, California
Sales slumped in October and prices continued to climb, as mortgage rates surged last month and inventory remained extraordinarily low. Home sales remained at 13-year lows as buyers competed for the few available homes on the market and continued to push up prices. Elevated prices, together with the average rate for a 30-year fixed rate mortgage nearing 8% in October, have created the least affordable market in several decades. Home sales were down in lower priced categories – under $750,000 – due to lack of inventory and sales grew in higher price categories where there was more inventory. “The lack of inventory and higher interest rates really hitting the home sales market,” said Yun.
Persons: , , Lawrence Yun, Yun, Organizations: DC CNN —, National Association of Realtors, West, NAR, Locations: Washington, Northeast, Midwest, South
Just in time for Thanksgiving, this all-suite hotel in southwestern Pennsylvania will open on Nov. 20 at Nemacolin, a sprawling resort with three hotels and other types of accommodations such as estates, homes and townhomes. Set amid the Laurel Highlands, the Grand Lodge has 56 suites, each with a dedicated butler. For cocktails there’s the Circle Bar, a lounge that adjoins the Study, where you can slip away for quieter conversations. Also beginning on Nov. 24, you can visit the resort’s Hardy’s Holiday Village, where there will be dance performances by “elves” and places to sip cocoa and savor sweets. Prices for the Grand Lodge start at $2,000 a night.
Persons: savor Parker Locations: Pennsylvania, Nemacolin, Laurel Highlands, Orlando, Fla
Different types of homes can be affiliated with an HOA, from single-family homes to co-operatives. Single-family homes are separate units where residents own both the plot of land and the house on it, said Clare Trapasso, executive news editor at Realtor.com. They have their own entrances and access to the street and don't share utilities or other systems with other homes. In a condo, residents own their individual units but jointly own the land and the common areas with other residents. Condos are run with a board of people on the homeowners association making decisions for the community, said Jaime Moore, a premier agent for Redfin.
Persons: Clare Trapasso, Jaime Moore, Thomas M, Skiba, Homebuyers, Moore, Redfin's Moore Organizations: Community Associations Institute Locations: New York, Boston, HOA, Nevada
NEW YORK (AP) — When Donald Trump became president in 2017, he handed day-to-day management of his real estate empire to his eldest sons, Donald Jr. and Eric. State lawyers are expected to rest their case after that, giving Trump's lawyers a chance to call their own witnesses. Political Cartoons View All 1227 ImagesDonald Trump Jr. and Eric Trump are both executive vice presidents at the Trump Organization and defendants in James' lawsuit. Eric has oversight over the company's operations while Donald Trump Jr. has been involved in running the company’s property development. Donald Trump Jr. and Eric Trump have already been heard from at the trial, albeit in snippets of prior testimony.
Persons: Donald Trump, Donald Jr, Eric, Donald Trump Jr, Eric Trump, Letitia James ’, James, Donald Trump —, , Ivanka Trump, Allen Weisselberg, Trump, Judge Arthur Engoron, He’s, hasn’t, he’s, doesn’t, Engoron, ” Donald Trump Jr, Eric Trump’s, David McArdle, McArdle, Donald Trump’s, who's, he'd, , , I’ve, Cushman, ” Donald Trump, Jennifer Peltz Organizations: Trump, Republican, Trump Organization, White, New, Trump Jr, Associated Locations: New York, New, , Newsmax, New York City, Wharton, Sisak, x.com
Townhomes line a street in Fairfax, on the morning the National Association of Realtors issues its Pending Home Sales for February report, in Virginia March 27, 2014. The verdict followed a two-week trial in the Kansas City, Missouri, federal court, where the case had drawn widespread attention for challenging widely used real estate industry practices. A spokesperson for the National Association of Realtors, Mantill Williams, also said it would appeal and ask the court to reduce the damages amount. The plaintiffs claimed the association and corporate defendants drove up the commission, upwards of 6%, that home sellers pay to brokers representing buyers. Two other defendants, Re/Max (RMAX.N) and Anywhere Real Estate (HOUS.N), agreed to respective $55 million and $83.5 million settlements before trial, without admitting liability.
Persons: Larry Downing, Warren Buffett's Berkshire Hathaway, Michael Ketchmark, Ketchmark, Keller Williams, HomeServices, Darryl Frost, Frost, Mantill Williams, Sellers, Mike Scarcella, David Bario, Chizu Nomiyama, Jonathan Oatis Organizations: National Association of Realtors, REUTERS, U.S . Justice Department, Thomson Locations: Fairfax, Virginia, U.S, Warren, Kansas City , Missouri, Berkshire, America, Missouri , Kansas, Illinois, Washington, Maryland
The verdict by a federal jury in Kansas City, Missouri, could upend decades-old practices that have allowed real estate agents to boost commissions as home prices and mortgage rates rise, hurting consumers by making housing transactions more expensive. Plaintiffs in the class action included sellers of more than 260,000 homes in Missouri, Kansas and Illinois between 2015 and 2022, who objected to the commissions they were obligated to pay buyers' brokers. The verdict followed a two-week trial, and the damages award can be tripled under U.S. antitrust law to more than $5.3 billion. Shares of real estate brokerages not involved in the verdict closed lower. Re/Max fell 4.4% and Anywhere fell 2.7%, while online brokers Zillow Group (ZG.O) and Redfin (RDFN.O) declined 6.9% and 5.7%, respectively.
Persons: Larry Downing, Warren Buffett's Berkshire Hathaway, Michael Ketchmark, realty Keller Williams, Mantill Williams, HomeServices, Keller Williams, Darryl Frost, Frost, Sellers, Corcoran, Max, brokerages, Mike Scarcella, Jonathan Stempel, Lance Tupper, David Bario, Chizu Nomiyama, Jonathan Oatis, David Gregorio Our Organizations: National Association of Realtors, REUTERS, realty, NAR, Coldwell Banker, Zillow, U.S . Department of Justice, Thomson Locations: Fairfax, Virginia, U.S, Warren, Kansas City , Missouri, Missouri , Kansas, Illinois, Berkshire, America, Washington, Maryland, New York
It’s no longer “higher for longer,” said Steve Sosnick, chief strategist at Interactive Brokers, it’s just “high for long.”What’s happening: 10-year Treasury yields are flirting with 5% for the first time since 2007, before the global financial crisis. It also means more expensive mortgage rates. Mortgage rates tend to track the yield on 10-year US Treasuries. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Fed officials, including Powell, have indicated that rates could be high enough to help lower inflation towards their target goal of 2%.
Persons: , Steve Sosnick, Rob Almeida, Powell, they’re, Jerome Powell, Paul McCartney, Darrell Cronk, Anna Bahney, , ” Lawrence Yun, Snapchat isn’t, Snapchat, Clare Duffy, Evan Spiegel Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Interactive, MFS Investment Management, US Treasury, Treasury, Economic, of New, Financial, , National Association of Realtors, NAR, Twitter Locations: New York, Ukraine, of New York, Wells Fargo, Northeast, Midwest, South, homeownership
Political Cartoons View All 1211 ImagesMcArdle said he was asked to figure out what the property would be worth if the Trump Organization built 71 high-end townhomes there, and he got substantial input from Eric Trump. McArdle said Thursday that Eric Trump may have had a “more lofty value" in mind, but a higher number wouldn't have been credible. Trump's financial statements went on to list the golf course at values sometimes topping $100 million, according to James' lawsuit. Both Eric and Donald Trump have attended some parts of the trial but weren't there Thursday. Earlier in the trial, retired Deutsche Bank official Nicholas Haigh testified that Trump’s financial statements were key to approvals for hundreds of millions of dollars in loans in 2011 and 2012.
Persons: Donald Trump's, Eric, Letitia James, Trump, Eric Trump, David McArdle, McArdle, “ Eric, ” McArdle, wasn't, , didn't, James, Donald Trump, Jack Weisselberg, Allen Weisselberg, Trump's, Weisselberg, Nicholas Haigh, Haigh, Judge Arthur Engoron, Michael R Organizations: New York, Republican, Trump Organization, Trump National Golf, Trump, Deutsche Bank, Associated Press Locations: New York, New, Westchester County, Briarcliff Manor , New York, Wakefield, Sisak
The median price for existing homes — which include single-family homes, townhomes, condominiums and co-ops — was $394,300 last month. That was up 2.8% from a year ago and marked the third consecutive month of year-over-year price increases, setting a record high price for homes in September. Low inventory and high prices contributed to sales of existing homes dropping 2% from August to September to a seasonally adjusted annual rate of 3.96 million units, just above analysts’ expectations. More than 90% of homeowners with a mortgage have rates at 6% or lower, according to ICE Mortgage Technology, which recently acquired mortgage data provider Black Knight. Part of this, of course, is because buyers with the means are working to avoid high mortgage rates by purchasing in cash.
Persons: , ” Lawrence Yun, , Yun Organizations: DC CNN —, National Association of Realtors, NAR, Federal, , ICE Mortgage Technology, Black, Homeowners Locations: Washington, Northeast, Midwest, South, homeownership
CNN —Central bank officials around the world relayed a somewhat unified message this week to the global economy: Inflation is coming down, but the battle is far from won. Most held rates steady, taking a breather from a historic pace of interest rate hikes to stabilize skyrocketing prices. United States: The Federal Reserve in September paused interest rates for the second time after first hitting the brakes in June. The central bank has hiked rates 11 times since last March. While central banks took steps to pause interest rates this week, they kept future hikes on the table.
Persons: , Brian Henderson, Nate Thooft, TikTok, Nnete Matima, Catherine Thorbecke, Clare Duffy, TikTok’s, George Floyd, ” Matima, ByteDance, Matima, Anna Bahney, , Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Fed, BOK Financial, United, Bank of England, Swiss National Bank, Manulife Investment Management, National Association of Realtors, That’s, NAR Locations: United States, United Kingdom, Switzerland, TikTok, Northeast, Midwest, South
The median price for existing homes — which include single-family homes, townhomes, condominiums and co-ops — was $407,100 last month. The median price in August was the highest price of any August on record and the fourth highest of any month. August marked the third consecutive month the median sales price was over $400,000. Sales of existing homes fell short of expectations and were down 0.7% from July to August to a seasonally adjusted annual rate of 4.04 million units. Annually, August sales were down 15.3% from a year ago when the sales pace was 4.77 million units.
Persons: , ” Lawrence Yun Organizations: DC CNN, National Association of Realtors, NAR Locations: Washington, Northeast, Midwest, South
Maryland realtor Bill Armstrong says now could be the time to get into an adjustable-rate mortgage. With mortgage rates back above 7% and home prices still high, it's not necessarily the greatest time to buy a rental property. But in every kind of market, there are opportunities, says Bill Armstrong, a realtor in Frederick, Maryland. The first piece of advice he gave is to consider getting an adjustable-rate mortgage as opposed to a fixed-rate mortgage. This means they know the market you're looking in well, but aren't considering deals for themselves first, he said.
Persons: Bill Armstrong, isn't, it's, Armstrong, that's, townhomes, you've Organizations: National Association of Realtors, Federal Reserve Locations: Maryland, Frederick , Maryland
US home prices show signs of stabilizing, reports show
  + stars: | 2023-08-29 | by ( Amina Niasse | ) www.reuters.com   time to read: +2 min
REUTERS/Octavio Jones Acquire Licensing RightsNEW YORK, Aug 29 (Reuters) - U.S. housing prices showed further signs of stabilizing in June, according to two reports out Tuesday that signaled the lengthy run of softening sales prices may be bottoming out. Both reports showed prices rose modestly month-over-month. House prices rose 3.0% between the second quarters of 2022 and 2023, FHFA said. FHFA's data showed June’s year-over-year gains were strongest in the East North Central and New England regions, up by 5.4% and 6.8%, respectively. On a city basis, the Case-Shiller data showed Chicago and Cleveland experiencing the greatest price accelerations.
Persons: Octavio Jones, FHFA, , Anju Vajja, ” Craig Lazzara, DJI, Amina Niasse, Safiyah Riddle, Andrea Ricci, Leslie Adler Organizations: REUTERS, Federal Housing Finance Agency, Federal Reserve, FHFA’s Division of Research, Statistics, East North, Thomson Locations: Tampa , Florida, U.S, “ U.S, East North Central, New England, Chicago, Cleveland
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