The amount of retail space turning vacant in 2018 is on pace to break a record, reports the CoStar Group, a commercial real estate services firm that has been tracking the amount of retail square footage slated to close nationwide since 2008. Factoring up to April so far of this year, more than 90 million square feet of retail space is expected to go empty. That’s on track to surpass a record of 105 million square feet that closed last year, S
Student loan debt is creating a barrier to homeownership. About 45 million people in the U.S. have student debt, with the average borrower owing more than $30,000, according to Student Loan Hero, a resource for managing education debt. Nearly one-fifth of borrowers owe $100,000 or more, according to data from the National Association of REALTORS®.Paying for student loan debt is taking up a sizable portion of people’s incomes. It also threatens
After mostly stagnant activity levels in recent weeks, mortgage rates are back on the move. The 30-year fixed-rate mortgage rose to its highest level since January 2014 this week, also seeing its largest weekly increase since February of this year, Freddie Mac reports.Average mortgage rates were higher across the board too, posting weekly increases to not only the 30-year fixed-rate mortgage but also to 15-year and 5-year hybrid adjustable-rate m
Eco-friendly homes are growing in demand, but buyers don’t always have to expect to pay a premium. Realtor.com® researched the 200 biggest metros in the U.S. to find the market availability of green homes with eco-friendly features, such as solar panels, smart thermostats, bamboo floors, and more. Researchers also sought to determine how much more or less these homes cost prospective buyers.“Although Southern and Western states still lead t
Southwest Flight 1380 was traveling from New York to Dallas when an engine blew after takeoff, causing debris to break one window and strike a female passenger. She was almost sucked out of the broken window when Tim McGinty, a REALTOR® from Dallas, sprung into action.McGinty was seated across the aisle from the woman. McGinty told NBCDFW.com he watched as the woman—who was later identified as Jennifer Riordan, a 43-year-old Wells Fargo ex
Single-family rental prices are growing, with the biggest jumps in lower-end brackets. Low-end rental prices—properties with rent prices less than 75 percent of the regional median—were up 3.8 percent compared to high-end price gains of 2.4 percent, according to January year-over-year data released by CoreLogic on Tuesday.Low-end rental home inventory is fueling the bulk of single-family rent price growth lately, according to the analysis. Ye
Homebuying dreams can become real for shoppers in unmarried but committed relationships. According to Jessica Lautz, the National Association of REALTORS®’s director of survey research and communication, a report from NAR found that the highest share of first-time buyers who are unmarried couples was in 2017—the highest on record since 1981. Of course, there are significant risks when buying a home with an unmarried partner. But there are
Some places in the U.S. offer better odds of singles breaking out of renting and into homeownership. Nearly 83 percent of renters say they have a desire to buy a home, according to polls by the National Association of REALTORS®. But the reality is that many can’t afford to with rising home prices and mortgage rates. For singles, the move to homeownership can especially be tough.SmartAsset, a personal finance website, analyzed cities to find wh
The new-home market is unable to meet growing buyer demand because there aren’t enough workers to build homes, builders say.At the beginning of the year, there were 250,000 unfilled construction jobs, including those for home framers, electricians, masons, carpenters, and other duties needed to build a new home. The unemployment rate in the building industry is significantly higher than the national unemployment rate—7.4 percent versus 4.1 p
The spring homebuying season has gotten off to a slow start, at least based on the number of borrowers taking out home mortgages. However, that may be changing: Mortgage applications rose 4.9 percent last week compared to the previous week, the Mortgage Bankers Association reported Wednesday. Both refinance and purchase applications posted increases, even as mortgage rates remained largely in a holding pattern.Applications to refinance rose 4 per
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