The judge's ruling supports a federal rule that opens insurers to legal liability for disparate-impact claims.A federal judge in Illinois ruled in favor of the U.S. Department of Housing and Urban Development on Tuesday, concluding a 10-year-old case brought against it by a major insurance industry lobbyist group.The Property Casualty Insurers Association of America first filed the suit against the Housing Department in November 2013, a
Interest expenses exceeded earnings as rates climbedCentral bank boosted interest rates to fight inflationThe Federal Reserve’s expenses exceeded its earnings in 2023 by $114.3 billion, its largest operating loss ever, forcing the US central bank to forgo remittances to the Treasury as interest rates remain elevated.Interest expenses, which includes reserves balances at the Fed’s reverse repo operations, nearly tripled to a $281.1 billio
Listen to the very real dangers a real estate professional and a home inspector have faced when working with homes in disrepair.Older homes and fixer-uppers, which buyers are turning to for greater affordability, are often in disrepair and can present hazardous safety conditions during a showing or inspection. One Florida real estate broker recalls a home inspector falling through the floor of an attic, landing on the agent in the garag
Try this color trend to bring quiet luxury to your listing.More designers are using jewel tones to elevate otherwise neutral spaces. From sapphire blues and ruby reds to emerald greens and amethyst, designers are incorporating jewel tones for a deeper, dramatic flair. Take a look at examples from top Manhattan luxury developments to see how designers are showing off this latest trend.Staged by IMG, rich orange and deep purple accents add depth to
Existing-home sales decreased 3.3% annually in February, according to the National Association of Realtors. However, sales did improve 9.5% from January — signaling that recovery won't be linear Existing-home sales were on the upswing in February, according to a National Association of Realtors report published on Thursday.The sale of existing single-family homes, townhomes, condominiums and co-ops declined 3.3 percent year-over-year
The latest HMI reading marks four consecutive months of increases in home builder sentiment.Builder confidence hit its highest mark since July 2023, the National Association of Home Builders (NAHB) reported this morning.The NAHB said a continued lack of existing housing inventory is still driving buyers to new home construction. Additionally, strong demand and declining mortgage rates are adding to the push toward new homes.Builder confidence in
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Permits for multifamily development dropped in 70% of metros in 2023, according to Point2’s annual Housing Construction Report.The past year saw over 1.4 million new homes added to the national housing inventory. Despite the 4% growth in units compared to 2022, both the number of new homes under construction and the number of permits dropped year-over-year (YOY).Permitting for new housing has declined for the second year in a row—down 11
The biggest economic story of the post-pandemic period has been inflation.It's a narrative that, at first, had two clear phases. First came the breakneck acceleration in price growth amid reopenings and job changes, when the 12-month inflation rate surged from less than 1% in June 2020 to more than 9% in June 2022.Then the fever appeared to break, with price growth slowing over the next 12 months to just 3.1% in June 2023.Yet it is now clear that
More buyers are leveraging equity from a previous home sale and dodging higher mortgage rates.Home buyers who paid cash accounted for 32% of home sales in January, marking the highest rate since 2014, the National Association of REALTORS® reports. Many leveraged the equity from a prior home sale.Vacation-home buyers and real estate investors made up the bulk of all-cash buyers over the last six months, according to NAR. However, in the last two
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