DIRS.INFO The most relevant business & tech news

In late 2022, Valcourt left the U.S. to move to France and go to pastry school. Valerie Valcourt moved to France in late 2022 to go to pastry school, which was a childhood dream. After some online research, she applied to a pastry school in Paris, got accepted and quit her job. Valerie Valcourt's pastry school program included three months of intensive culinary and language classes, followed by a four-month internship at a Michelin-level restaurant. Most of Valerie Valcourt's meals come from her restaurant job, but she spends roughly 20 euros ($21.43) per week.

Persons: Valerie Valcourt, Valcourt, She's, Chabran, Luis Carballo, Valerie Valcourt's, she's, It's Organizations: CNBC, Google, Michelin, France, Transportation, Apple, Spotify, Spotify Insurance, Peugeot Locations: U.S, France, Tournon, Seattle, Paris, Connecticut, Europe

But the way homes are built in the United States makes speed impossible. Years ago, Rupnik’s Croatian grandmother, an architect herself, pointed him to an intriguing answer to this conundrum: modular housing projects built in Europe in the 1950s and ’60s. Sure, prefab complexes, and especially Soviet bloc housing, could be ugly and too homogenous, but the process created millions of housing units in a flash. Hooked, Rupnik started researching modular housing for his doctoral dissertation. Unable to find much more information, Rupnik turned to the Department of Housing and Urban Development, which created the program.

Persons: Ivan Rupnik, Rupnik, George Romney, Nixon Organizations: Harvard Graduate School of Design, Department of Housing, Urban, HUD, Republican Locations: United States, Croatian, Europe

☆ Craft cocktails, mountain bikes and art: Walmart's hometown is booming, and getting more expensive
▼ + stars: | 2024-06-06 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +13 min

— When Gil Curren's family moved into a run-down farmhouse in Walmart's hometown of Bentonville, Arkansas, in 1971, the now-retail giant wasn't yet a decade old. Craft cocktails, hipster coffee shops and chef-driven restaurants have popped up around the city. Realtor Kristen Boozman, who works for Sotheby's, helps clients search for homes in the Bentonville area, including many buyers who are relocating from another city. Home values have shot up in the Bentonville area. A Walmart spokeswoman said the Walton Family Foundation funds and advocates for affordable housing projects in the Bentonville area.

Persons: Gil Curren's, it's, Sue, Gil Curren, Melissa Repko, Hunt, Tyson, Shawn Baldwin, Sam Walton, Walton, Walton's, Steuart, Tom Walton, Sam Walton's, Alice Walton, Bridges, She's, Crystal Bridges, Kristen Boozman, There's, Donna Morris, Morris, Tracy Robinson, she's, CNBC Tracy Robinson, Robinson, Stanley, Matthew Cooper, Tom, Cooper, he's, district's, It's, Jeff Webster, Bentonville Shawn Baldwin Organizations: Cyclists, Kansas City, CNBC, Walmart, Craft, Fortune, Tyson Foods, PepsiCo, Hershey, Mattel, . Census, Cushman &, Sage Partners, of Commerce, Northwest Arkansas Council, D.C, Ropeswing Hospitality, Bentonville Schools, Excellerate Foundation, Walton Family Foundation, Walton Family, Bentonville Locations: BENTONVILLE, Ark, Walmart's, Bentonville , Arkansas, Bentonville, Kansas, Austin , Texas, New York, U.S, Silicon, It's, Arkansas, Cushman & Wakefield, American, Crystal, Austin, Boise , Idaho, Dallas, Fort Worth, Atlanta, Toronto, New York City, Miami, Washington, New York City , Washington, Bentonville's

☆ A med student wanted to simplify his life, so he spent $33,000 turning a van into a tiny house. Take a look inside.
▼ + stars: | 2024-06-04 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

Ethan Liebross went for a less common housing option: He lives full-time in a van — a 2015 Ford Transit that he turned into a mobile, off-grid home. Ethan LiebrossAlthough he grew up on a farm in New Jersey, he's no stranger to van life. AdvertisementDuring his gap year, he had lived out of another van while working as a freelance writer for local newspapers. "So I decided to convert a little camper van — a Ford Transit Connect — and I traveled around the US." "We worked together on the weekends or when he came home from work," Liebross said.

Persons: —, Ethan Liebross, he's, Liebross, he'd, who's, He's, I'd, I'm Organizations: Service, Ford Transit, Business, Ford Transit Connect, Facebook Locations: New Jersey, California

☆ Their landlord hiked their rent by 25%, so they applied for the NYC housing lottery. On the 25th try, luck was on their side.
▼ + stars: | 2024-06-02 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

Read previewIn 2021, Brynne McManimie and Peter Romano lived in a one-bedroom apartment in Greenpoint, Brooklyn. "That's when we were like, 'OK, let's just try the housing lottery,'" McManimie added. AdvertisementAlthough applying is free, each household must meet specific income requirements to qualify for a lottery apartment. Brynne McManimie and Peter Romano"It's definitely smaller than our old apartment," McManimie said. Advertisement"We're really happy and very thankful that New York City has an affordable housing lottery.

Persons: —, Brynne McManimie, Peter Romano, let's, Brynne, Peter Romano Matthew Dunivan, there's, McManimie, Clinton Hill, Romano, it's, There's, It's Organizations: Service, Business, New Yorker, New York City Department of Housing Preservation, Housing Development Corporation, The New York Times, New York Times, New Locations: Greenpoint , Brooklyn, New, West Coast, New York, Greenpoint —, Clinton, RentHop.com, Clinton Hill, Poconos, New York City

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. This story is available exclusively to Business Insider subscribers. Indeed, Florida hosts some of the best spots to retire, according to a new ranking from real-estate website Realtor.com. AdvertisementWhile Florida is showing up and showing out, you don't necessarily have to head south to find an ideal post-career destination — your affordable retirement might just be down the Jersey Shore. Here are the top 10 spots to retire, according to Realtor.com, what it costs to live there, and what they're best known for.

Persons: —, Realtor.com Organizations: Service, Security, Business, Florida Locations: Florida, Jersey Shore

☆ I dodged a 15% rent increase because of a new NYC housing protection law. Here's how to know if it could save you money.
▼ + stars: | 2024-06-01 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

They said my building was covered under the new Good Cause Eviction law, and my rent increase would instead be 8%. AdvertisementWhat is Good Cause Eviction? Good Cause also has what's called the reasonable rent increase measure: Buildings covered under Good Cause have limits on how much landlords can raise rent. I was under the impression that this building falls under the good cause eviction umbrella. Will Good Cause Eviction change or impact your life?

Persons: Weaver, —, Ellen Davidson, Davidson, Allia Mohamed, it's, Mohamed, that's Organizations: Service, Business, New, New York, Housing Justice, —, Legal Aid Society Locations: New York City, Central Park, New, New York, Bronx, Brooklyn

☆ Want a low mortgage rate? Take someone else’s
▼ + stars: | 2024-05-31 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

This means that a buyer keeps the seller’s repayment period, mortgage balance and, notably, the seller’s lower mortgage rate. Securing that ultra-low mortgage rate means that Harper will save thousands of dollars in monthly payments. “I just decided I wanted to see how low I could pay on the interest rate,” Harper said. And while the mortgage rate on the second loan may be high, the total monthly payment could still be lower — if the assumed mortgage rate is low enough. Snagging a low mortgage rate like Harper’s in today’s high interest rate environment may seem like a dream come true to some prospective homebuyers, but the process is not always smooth sailing.

Persons: ”, Ted Tozer, Ginnie Mae —, Tozer, Ellen Harper, Harper, “, ” Harper, ” Tozer, homebuyers, he’d, Raunaq Singh Organizations: CNN, of Housing, Urban, Urban Institute, Intercontinental Exchange, Federal Housing Administration, US Department of Veterans Affairs, Realtors Locations: Georgia, Georgia , Arizona , Colorado , Texas, Florida

☆ Why you should buy the dip in stocks before next week's jobs report, Fundstrat says
▼ + stars: | 2024-05-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Investors should buy stocks ahead of next week's May jobs report, according to Fundstrat's Tom Lee. "We see high probability that stocks perform well into next week's May jobs report," Lee said. AdvertisementInvestors should buy the dip in stocks ahead of next week's release of the May jobs report, according to a Friday note from Fundstrat's Tom Lee. "Thus, we see high probability that stocks perform well into next week's May jobs report," Lee said. Such a report would match the April jobs report and likely put some pressure on the Fed to cut interest rates sooner than later.

Persons: Tom Lee, Lee, — Organizations: Service, Nasdaq, Dow Jones, PCE, Housing

☆ 3 signs the housing market's affordability recession is finally ending
▼ + stars: | 2024-05-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementWhile growth has normalized, prices still remain elevated, with median prices of existing and new homes both near all-time highs. In fact, the Housing Affordability Index fell to its all-time low last year, but Schwab noted that it seems to be pushing back up from the bottom. AdvertisementThe bank added that mortgage rates are likely to keep drifting higher, as federal interest rates normalize at around current levels. "Yet, a stabilization in activity, price growth, and interest rate volatility will likely provide a more stable foundation for the sector."

Persons: —, Charles Schwab, Schwab, That's, homebuilders, it's Organizations: Service, Business Locations: Redfin

☆ More people will never own a home — they're the 'forever renters'
▼ + stars: | 2024-05-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

These "forever renters" vary widely in their reasons for not pursuing home ownership. Others prefer the flexibility to move and freedom from ownership costs that renters enjoy. Homeownership and renting have numerous pros and cons, making it hard to say whether forever renters are acting shrewdly or making a big mistake. Renters avoid large down payments and the varying costs of homeownership, such as mortgage payments, taxes, maintenance, and repairs. It's also cheaper to change the place you're renting than the place you're buying because of real-estate agent fees."

Persons: —, Grant Wilson, Eunjee Kwon, David Brasington, Kautz, There's, Colin Lizieri, they've Organizations: Service, Business, University of Regina, University of Cincinnati, University of Cambridge Locations: Germany, Switzerland

☆ US home prices hit another record high in March
▼ + stars: | 2024-05-28 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —US home prices reached a record high in March, reflecting the housing market’s persistent affordability crisis. The S&P CoreLogic Case-Shiller US National Home Price Index, a measure of home prices across the country, jumped 6.5% in March from a year earlier to a record high. It is the sixth time the index has reached a new record high over the past year. Persistent challenges, but some slight improvementsHousing affordability, which factors in incomes, home prices and mortgage rates, remains in the doldrums. Annual home price growth is down from a record high of 20.8% in March 2022, but it has picked up steam in the past several months.

Persons: ”, Brian Luke, Dow, “ We’ve Organizations: Washington CNN, Dow Jones, Federal Reserve, Treasury, National Association of Realtors Locations: San Diego , New York, Cleveland, Los Angeles

☆ What the Downfall of Red Lobster Tells Us About America - The New York Times
▼ + stars: | 2024-05-24 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

In his article for a 1945 issue of The Journal of Farm Economics, he settled on just five foods based on their August 1939 prices, in these quantities per year: 370 pounds of wheat flour, 57 cans of evaporated milk, 111 pounds of cabbage, 23 pounds of spinach and 285 pounds of dried navy beans. Stigler hastened to say that this was purely an academic exercise, not a diet recommendation. “It would be the height of absurdity to practice extreme economy at the dinner table in order to have an excess of housing or recreation or leisure,” he wrote. Still, I thought of the Stigler diet this week when the news came out that Red Lobster, the seafood restaurant chain, had cracked under pressure and filed for Chapter 11 bankruptcy protection. One source of its problems — not the biggest, but the easiest for customers to grasp — was an every-day-all-you-can-eat shrimp promotion last year that got too popular and was a key reason for an $11 million quarterly operating loss.

Persons: George Stigler, ”, — Organizations: Farm Economics

☆ Where Public Housing Apartments Can Go for More Than $1 Million
▼ + stars: | 2024-05-24 | by ( Sui-Lee Wee | Chang W. Lee | ) www.nytimes.com time to read: +1 min

Six decades ago, when Singapore was emerging as an independent nation, it was one of the poorest cities in Southeast Asia. Today, Singapore is a wealthy, modern city where roughly half of its 6 million people live in well-constructed high-rise apartments that were built by the government. These subsidized apartments are typically bright and airy, and defy most perceptions of public housing projects. As of early May, 54 of these apartments have sold for more than 1.35 million Singaporean dollars, or $1 million. While these million-dollar apartments represent a tiny fraction of all transactions, they have nonetheless captured the imaginations of many Singaporeans and amplified worries about the affordability of housing in one of the world’s most expensive cities.

Locations: Singapore, Southeast Asia

☆ Mortgage rates fall for the third straight week, dipping below 7%
▼ + stars: | 2024-05-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —Mortgage rates declined for the third consecutive week in a shred of good news for Americans dealing with a still-tough housing market. Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Federal Reserve’s decisions on interest rates. Stubbornly high inflation this year has dashed hopes that the Fed could cut interest rates in the spring or in the summer. Some Fed officials said earlier this week that they likely won’t raise interest rates again and a few have said they expect to cut rates this year. With mortgage rates still elevated, some homeowners are deciding to stay put.

Persons: Freddie Mac, inflation’s cooldown, there’s, homebuyers, ” Sam Khater, Freddie Mac’s, That’s, ” Lawrence Yun, ”, Yun, Joe Biden Organizations: Washington CNN —, Treasury, National Association of Realtors, Fed, Housing Locations: San Diego, Chicago, Detroit

☆ Sales of newly built homes tank in April, as prices and interest rates rise
▼ + stars: | 2024-05-23 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Sales of newly built homes dropped 4.7% in April compared with March, and dropped a larger 7.7% from the prior year, the U.S. Census said Thursday. Higher mortgage rates are clearly hampering sales. Some of that is due to the mix of homes selling, which is mostly on the higher end of the market. Those buyers are not as influenced by mortgage rates, as they often use all cash. The big production builders have been buying down mortgage rates to help boost sales, but they are able to do that because of their size.

Persons: Peter Boockvar, Robert Dietz, NAHB's Organizations: Spring Barbera Homes, Builders, Toll Brothers, Bleakley Financial, CNBC, National Association of Home Builders, Wells Fargo . Locations: Loudonville , New York, U.S, Horton, Wells Fargo

☆ China is trying to end its ‘epic’ property crisis. The hard work is just beginning
▼ + stars: | 2024-05-21 | by ( Laura He | ) edition.cnn.com time to read: +7 min

“The policymakers recognize the urgency to prevent an outright property crisis,” said Zhaopeng Xing, senior China strategist at ANZ Research. According to Goldman Sachs, the total value of unsold homes, unfinished projects and unused land in China is about 30 trillion yuan ($4.1 trillion). On Friday, Tao Ling, deputy governor of the PBOC, said the relending program could eventually underpin 500 billion yuan ($69 billion) worth of bank loans to support the buying. The Housing Ministry said Friday that local governments can instruct local state-owned enterprises to help purchase some unsold homes from developers. Just the beginningAddressing the oversupply of unsold homes is only the first step, experts say.

Persons: ”, Zhaopeng Xing, Goldman Sachs, it’s, Tao Ling, Ting Lu, Nomura, Helen Qiao, It’s, Tao, ” Jing Liu, Taylor Wang, Xing, Goldman, Donald Trump, Michelle Lam, Wei Yao, Société Générale Organizations: Hong Kong CNN —, ANZ Research, Goldman, People’s Bank of China, Greater China, Bank of America, Housing Ministry, HSBC, European Union Locations: China, Hong Kong, Hong Kong CNN — Beijing, Beijing, Greater, Société, Japan

☆ I bought my first home this year: 7 things I wish I'd done before getting serious about my search
▼ + stars: | 2024-05-20 | by ( Celia Fernandez | ) www.cnbc.com time to read: +9 min

When my partner and I signed a two-year lease to move into our second New York City apartment together in 2021, we agreed that the next place we lived in would be ours. New York City is where I grew up, and I am not ready to give up my status as a "passenger princess" — yes, I'm 31 and don't have a driver's license. "There are four things that go into getting a mortgage: your credit, your income, your assets, and the property," Forbes says. The application process for a program like the New York City HomeFirst Down Payment Assistance Program or the NYS AHC grant can take several months. My partner and I bought a co-op, which is very common in New York City.

Persons: We've, Dave Forbes, Forbes, you've, Z, Gen Zers, millennials, wouldn't Organizations: New, Chase, NYS, Qualtrics, National Association of Housing Cooperatives, Rocket Mortgage Locations: New York City, Riverdale, Bronx , New York, Manhattan, Midtown, New York State, New York, That's, millennials, .

☆ He fell in love with Thailand while traveling in his 20s. Now 40, he's back and has built his dream 'James Bond' luxury villa.
▼ + stars: | 2024-05-20 | by ( Amanda Goh | ) www.businessinsider.com time to read: +6 min

Read previewThe first time Johnny Ward went to Chiang Mai, Thailand, he was 22. Johnny Ward on a scooter in front of his house in Chiang Mai, Thailand. But after traveling the world, Ward realized that Chiang Mai still had his heart. Johnny Ward/onestepforwardWard said he spent 13 million Thai baht building the home and another 3.5 million Thai baht furnishing it, or about $460,000 in total. It would have been difficult for him to have all the things he wanted if he had bought an existing home in Chiang Mai, Ward said.

Persons: —, Johnny Ward, Chiang, Ward, Chiang Mai, James Bond, onestepforward, Jaa, he's, onestepforward Ward, hadn't, I'm, She's, it's Organizations: Service, Business, Homes, James Edition Locations: Chiang Mai, Thailand, Asia, Australia, Miami, Ibiza, Ireland, Homes Thailand, onestepforward

☆ One-third of single-family homes for sale are newly built, report finds. Here's what buyers need to know
▼ + stars: | 2024-05-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

While new builds are still sold for slightly more than existing homes, the price gap has significantly narrowed. Over the last six months, the median price for a new home is only about 4% higher than the median price of an existing house. Reducing the square footage of your home can help reduce construction costs as well as utility and maintenance costs down the line. Keep construction costs down: Major factors like lumber and labor costs significantly impact the cost of a new house. And depending on the kinds of materials you add to the house, builders are "adding up the tab," Veronica Fuentes, a wealth management advisor based in Washington, D.C., previously told CNBC.

Persons: Alistair Berg, Digitalvision, Nicole Bachaud, Dietz, Matthew Walsh, Walsh, homebuilders, Veronica Fuentes Organizations: Getty, Zillow Group, CNBC, U.S . Census, U.S . Department of Housing, Urban, Moody's, Washington , D.C Locations: U.S, Washington ,

☆ I'm a Canadian who's lived in the US for over 30 years. I don't get why so many Americans want to move to Canada.
▼ + stars: | 2024-05-18 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Our money was worth more back then, so we got more value for our Canadian dollar when we went shopping in the States. She was an American living in Atlanta and said, "Hey, why don't you come and spend the winter with me?" It almost seemed like Canada was 10 or 20 years behind, progressive-wise — and I don't mean politically. The amenities, the shopping, the food, and the restaurants in Canada are way behind if you're outside Vancouver or Toronto. I don't see why Canada is so appealing to AmericansCanada used to be an admired country worldwide, and now it's horrible.

Persons: —, Jim D, Zeppelin, Mason, Dixon, I've, I'm Organizations: Service, Business, Fort Frances, Gas, Toyota, Healthcare, Ontario Health Insurance Locations: Canadian, Arizona, Flagstaff, Phoenix, Fort Frances , Ontario, International Falls , Minnesota, America, Fort, Minnesota, Africa, Tanzania, Canada, American, Atlanta, Vancouver, Toronto, Birmingham , Alabama, New Orleans, Baton Rouge , Louisiana, Jackson , Mississippi, Houston, Texas , New Mexico , Arizona , California, Hawaii, Ontario, United States, In Ontario, Fort Frances, Thunder Bay , Ontario, Thunder, Thunder Bay

☆ Nvidia and 2 other portfolio stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-05-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

All three major averages closed higher for the week, driven by softer retail sales and consumer price data for April. And the data has been mostly good, with 78% reporting a positive earnings surprise and 60% delivering a positive sales surprise. But we will get earnings from three portfolio companies, including one of our two "own, don't trade" stocks. In the week ahead, three portfolio companies will report results, while it will be fairly slow for economic data, except for a couple of housing reports. Earnings : After a week without earnings from any Club stocks, we'll get three this coming week.

Persons: Dow Jones, Dow, we'll, TJX, Blackwell, Li Auto, James Hardie, Ralph Lauren Corporation, Booz Allen, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Justin Sullivan Organizations: Wall, Federal Reserve, Dow, Nasdaq, CPI, Palo Alto Networks, Palo, TJX Companies, Nvidia, Nexxen, Alto Networks, Video Communications, Trip.com, James Hardie Industries N.V, Nordson Corp, Keysight Technologies, ZIM Integrated Shipping Services, Lowe's Companies, Eagle Materials, Toll, ViaSat, Urban Outfitters, Target Corp, Devices, Dorian LPG, Dycom, Golden Ocean Group, Petco, Wellness Company, Sonoma, WSM, VF Corp, Star Bulk Carriers Corp, LiveRamp Holdings, Chemical & Mining Co, Grupo Supervielle S.A, BJ's Wholesale, Technologies, TD Bank Group, Intuit, Ross Stores, Booz Allen Hamilton Holding, Mesa Laboratories, Jim Cramer's Charitable, CNBC, Intelligence, SAP Center Locations: Palo Alto, Williams, Chile, San Jose , California

☆ Low-income Americans wait years to get housing vouchers that are often impossible to use. Fixing the system could mean more funding and less red tape.
▼ + stars: | 2024-05-18 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The federal Housing Choice Voucher Program, also known as Section 8, is also the biggest, aiding about 5 million people in 2.3 million households. While it's illegal in some places to discriminate against voucher holders, the practice isn't outlawed everywhere. Fully funding housing vouchers would mean many more housing-insecure and unhoused people would get help. Related storiesIn its budget for fiscal year 2025, the Biden administration requested a $2.5 billion increase for voucher funding over 2023 levels. Researchers at the Department of Housing and Urban Development have proposed piloting a direct cash transfer program for rent as an alternative to housing vouchers.

Persons: Will Fischer, Biden, Jenny Schuetz, isn't, Lindsey Nicholson, Michael Stegman, Stegman, Tara Radosevich, Fischer, Schuetz Organizations: Service, Business, of Housing, Urban Development, Budget, Harvard, The New York Times, Republicans, Brookings Institute, Getty, Urban Institute, HUD, Washington State, Department of Housing Locations: —, Los Angeles, Fort Worth, Philadelphia, Iowa, Long Island City, Queens, Oregon

But Nkenge's dream became a reality when she was selected for a one-bedroom apartment through the city's housing lottery in 2023. The New York City housing lottery program helps residents find affordable housing, including rent-stabilized apartments. The Department of Housing Preservation and Development defines affordable housing as housing costs no greater than 30 percent of a single person's or family's income. Nkenge applied to the NYC housing lottery for three years before she got her one-bedroom apartment in Flatiron. Before winning her housing lottery apartment, Nkenge lived in a small one-bedroom in Harlem.

Persons: Nkenge, Mickey Todiwala, That's, I've, It's Organizations: New, of Housing Preservation, Development, CNBC, Housing, Department of HPD's Locations: New Yorker, Bronx, Harlem, New York City, Flatiron, Brooklyn, Manhattan, Nkenge's

☆ China pledges $42 billion in a slew of measures to support the struggling property sector
▼ + stars: | 2024-05-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

China announced "historic" steps to stabilize the crisis-hit property sector on May 17, 2024, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes. These and other measures announced Friday marked Beijing's latest efforts to address issues in the massive real estate sector. The real estate companies can then use funds earned from those sales to complete construction on other apartments, the central bank said. Pre-sold, unfinished homesFor years, many apartments in China tended to be sold before construction was finished. Nomura estimated last year there were around 20 million such pre-sold, unfinished apartments in China.

Persons: Zhu Ning, Tao Ling, Xiao Yuanqi, Larry Hu, Dong Jianguo, Lifeng, Zhu, Nomura Organizations: China, Nurphoto, Getty, Tsinghua University, People's Bank of China, National Financial Regulatory, Macquarie, CNBC, of Housing, Housing, Future Publishing Locations: BEIJING, Wanxiang City, Huai'an City, East China's Jiangsu, China

Search resuls for: "of Housing"

25 mentions found