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The Latest Breaking News on Real Estate

Philip Lowe’s final inquisition leaves out some tough questions

More scrutiny of the outgoing RBA governor’s views on interest rates, profit-gouging and rent controls would have been welcome at his final appearance before parliament

The Guardian - AU

‘Stump up £2.2bn or London house building could grind to a halt’, Sadiq Khan tells Michael Gove

Sadiq Khan issues stark warning that capital’s housing crisis will worsen without £2.2bn in Government funding as developers down tools

Evening Standard

Country Garden’s losses fan worst fears on China property market

BEIJING: Less than two years after China Evergrande Group’s default sent shockwaves around the world, an even larger Chinese developer is on the brink.

The Times of India

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Federal grand jury reportedly calls witnesses related to Ken Paxton

The Austin American-Statesman reported that the grand jury has been convened in San Antonio. The identities of the witnesses and the focus of the inquiry remain unclear.

The Texas Tribune

Chicagoans dream of relocating to this coastal city in Florida, according to Redfin

Located in southwest Florida, Cape Coral boasts an intricate network of canals that stretches 400 miles and lush golf courses.

Chicago Sun-Times

Michael Williams obituary

Other lives: Labour housing councillor for almost 20 years who championed tenants in the London borough of Wandsworth

The Guardian - UK

Scammers face prison after charging £128k for £12k of building works

The scammers’ victim was said to have been “drained of her life savings”

Evening Standard

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Kovaipudur all set to emerge as a calm, pollution-free residential area in Coimbatore

Kovaipudur, Coimbatore is set to become an ideal residential area with ample land parcels, Western Bypass Road, ring road, social infra, educational institutions, and culture of excellence. It offers opportunities for investments in sectors such as education, healthcare, retirement, and housing.

The Hindu

Average long-term US mortgage rate climbs to 6.96% this week, matching highest level this year

The average long-term U.S. mortgage rate rose this week to just under 7%, the latest setback for would-be homebuyers already facing affordability challenges due to a housing market limited by a shortage of homes for sale

The Independent UK

US, UK and Canada sanction Lebanon’s former central bank governor

Internationally wanted Riad Salameh resigned from post he held for 30 years after graft charges were filed against him.

Al Jazeera

NSW minister concedes social housing situation ‘desperate’ as waitlist for most in need doubles in a decade

Exclusive: Rose Jackson announces monthly release of social housing data, with first tranche showing ‘priority’ applications soaring

The Guardian - AU

No-fault eviction proceedings hit highest level for six years in England

Campaigners say the 7,491 claims between April and June show why renters reform bill must become law

The Guardian - UK

US, UK, and Canada sanction Lebanon's former central bank governor over corruption allegations

The United States, United Kingdom, and Canada have slapped sanctions on Lebanon’s embattled ex-central bank governor and a handful of close relatives and associates over allegations of corruption

The Independent UK

Which of These 3 Retail REITs Should You Buy, Sell, or Hold?

With the reliability of rental income, the ability to diversify against market volatility, and the potential for real estate appreciation to hedge against inflation, REITs emerge as resilient investment options. With that in mind, let us analyze which of the leading retail REITs, Saul Centers (BFS), Alexander’s (ALX), and Reality…

StockNews.com

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The Independent UK

Jump in homeowners and landlords falling into arrears on mortgages

Mortgages in arrears accounted for 0.93% of all homeowner mortgages outstanding and 0.44% of all buy-to-let mortgages in the second quarter of 2023.

The Guardian - UK

Housebuilder Persimmon cuts almost 300 jobs after drop in demand

Company to push ahead with cost-cutting drive as fallout from government’s autumn mini-budget takes toll

The Guardian - UK

UK house price falls spread; Wilko falls into administration; US inflation rises to 3.2% – as it happened

RICS house price balance drops again … as more mortgage holders fall into arrears and Wilko takes ‘difficult decision’ to enter administration

Evening Standard

City braces for insight into impact of rate hikes on economic growth

GDP data for June is due, from a month of rate hikes, hot weather and strikes

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Evening Standard

Comment: ‘the brutal lessons from Balfron Tower’s unsold flats’

In an uncertain property market, the fact a developer has been unable to sell any flats (priced from £365,000 for a one-bed) in a Sixties tower block next to the A12 repeatedly voted Britain’s ugliest seems unsurprising. Especially since the concrete building’s construction made it tricky to secure a mortgage.

The Times of India

WeWork’s ‘substantial doubt’ about its future marks a stunning fall

NEW YORK: For the past four years, WeWork Inc has been trying to deliver a turnaround story — one in which the rowdy co-working startup transforms into a stable, profitable public company. It sloughed off Adam Neumann, its rambunctious co-founder and former chief executive officer, and replaced him with an…

The Independent UK

Rents set to continue rising sharply despite cost-of-living squeeze, experts say

Fresh rise in costs would mark new high in 24-year records

The Conversation

Ageing in a housing crisis: growing numbers of older Australians are facing a bleak future

The collision between an ageing population and a housing crisis has left more older people in Australia enduring housing insecurity and homelessness. Our research, released today, explores how the scale of these problems among older people has grown over the past decade.

The Independent UK

Rents ‘likely to continue rising sharply despite cost-of-living squeeze’

Rental demand shows no signs of letting up and supply remains constrained, the Royal Institution of Chartered Surveyors said.

Chicago Sun-Times

Housing development by Bloomingdale Trail aims to counter rising costs in Logan Square

The two buildings will bring 89 affordable housing units to an area that’s seen the greatest loss in affordable units. Construction is expected to finish by fall 2024.

The Hindu

T.N. registration department gives detailed explanation on registration charges

Govt. clarifies flat registration charges not increased; CREDAI Chennai requested rollback; Govt. explains charges, hits out at developers for misusing 2020 instructions; Prevailing rates of 7% stamp duty & 2% registration fee for sale of UDS; 1% stamp duty & 1% registration fee for construction agreement; 2020 instructions misused by…

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