Real Estate

It’s hard to imagine being paid to borrow money or penalized for saving. But the economic shock from Covid-19 may call for drastic measures. Up until this point, the Federal Reserve has never brought its benchmark rate into negative territory and, according to Federal Reserve Chairman Jerome Powell, the Fed is not considering going to negative interest rates now.  “The
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WeWork cofounder and former CEO Adam Neumann, who once called his relationship with SoftBank’s Masa Son “beautiful”, is now suing the Japanese conglomerate — and his language has changed dramatically. In the lawsuit, Neumann accuses SoftBank of backing out of a key provision of its nearly $10 billion bailout of the coworking company, which SoftBank
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A home awaits sale at a reduced asking price in Glendale, California. David McNew | Getty Images Home prices have only fallen nationally once since the Great Depression, and that was following the subprime mortgage crisis and the Great Recession. Now, barely eight years after hitting bottom, and after a mighty recovery, prices are predicted
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The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero in response to the economic shock from the coronavirus crisis. “The most significant responsibility of the Fed now is to make sure that credit markets continue to function,” said Greg McBride, chief financial analyst at Bankrate.com. “Without functioning credit markets, there will be no economic
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Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S., on Tuesday, Oct. 1, 2019. Andrew Harrer | Bloomberg | Getty Images The Federal Housing Finance Agency, regulator of Fannie Mae and Freddie Mac, announced that the two mortgage giants will now buy home loans that go into the government’s forbearance program just after
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The threat of completely destroying the U.S. economy must be weighed against the diminishing health risks from the coronavirus, real estate mogul Barry Sternlicht told CNBC on Tuesday. “I actually think we have to reopen the economy. We have to do it ZIP code by ZIP code,” said Sternlicht, whose $60 billion Starwood Capital Group has interests in
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Homebuilders are hurting. U.S. home construction in March endured its worst monthly decline since 1984 as housing starts fell by over 22% from the previous month, the Commerce Department said Thursday. Homebuilder confidence was also pummeled, with one key indicator seeing the biggest drop in its 35-year history. Home construction stocks have reflected the weakness. The iShares
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urbazon | Getty Images More than 2.9 million homeowners have taken advantage of a program designed to provide relief to holders of government-backed mortgages, part of the coronavirus CARES Act relief package. This represents 5.5% of all active mortgages, according to Black Knight, a mortgage data and analytics company that is now tracking the growing
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Flooding resulting from Hurricane Harvey in Houston, Texas. Harriet Taylor | CNBC Nothing can compare to the crushing economic tsunami created by the coronavirus pandemic, but in the housing market, there are some parallels to natural disasters. Lessons learned from those devastating events are helping the industry cope now. In 2017, after Hurricane Harvey swamped
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