housing – The News Desk

Biden Stalls On Climate Rule That Would Save Americans Money

14Apr

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Politics

Biden Stalls On Climate Rule That Would Save Americans Money

The Biden administration is racing to finalize regulations to curb planet-heating emissions from lightbulbs, automobiles and trucks before a key deadline, after which any new rules could be undone by Donald Trump if he retakes the White House.With just over six months before the election, at least one major Biden proposal appears to be stalled: an update to the federal housing rules that agency experts estimate would save homeowners nearly three times more money on energy bills than it would add to construction costs, spread out over a 30-year mortgage.Changing those housing rules would impact about 160,000 new houses and condos built each year in some of the nation’s fastest-growing — and most expensive — housing markets. The Biden administration is now looking to the rules as a model fo...

20Dec

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Money

What Is Escrow? | Mortgages and Advice

Most people never encounter the concept of escrow until they buy a home. Escrow accounts are set up by third parties as a safe place to hold money. They are used for two main purposes when it comes to real estate: during a home purchase and afterward as an easy way for homeowners to save for property tax and insurance costs. Here's what you need to know about escrow accounts, how they help facilitate a home purchase and how they help you manage your home expenses after the sale.What Does Escrow Mean?Generally, escrow is a type of account. It is held and managed by an escrow agent – a neutral third party who not only receives money, but can disperse it. The escrow account is held for two primary parties until a transaction is finalized or a contract's requirements are met. Escrow accounts ...

Why It Took 17 Years to Build 49 Housing Units in Los Angeles

13Dec

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World

Why It Took 17 Years to Build 49 Housing Units in Los Angeles

Listen to article(2 minutes)A Los Angeles nonprofit was given government land in January 2007 to build a few dozen units of affordable housing. They’re finally hoping to open the building next year. Lorena Plaza, a 49-unit development rising in the predominantly Latino neighborhood of Boyle Heights in eastern Los Angeles, is taking longer to complete, a city official said, than practically any other residential building this size in the history of Los Angeles. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

28Nov

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World

Home Prices Rose to Record in September

Updated Nov. 28, 2023 9:19 am ETHome prices hit a new record in September due to a shortage of homes for sale, even as high interest rates made home purchases less affordable.The S&P CoreLogic Case-Shiller National Home Price Index, which measures home prices across the nation, rose 3.9% from a year earlier in September, compared with a 2.5% annual increase the prior month. The September level was the highest since the index began in 1987.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Saya Group to infuse Rs 4,000 cr in next 3 yrs in Noida, Ghaziabad projects

27Nov

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Business

Saya Group to infuse Rs 4,000 cr in next 3 yrs in Noida, Ghaziabad projects

Real estate company Saya Group on Sunday said it will infuse Rs 4,000 crore over the next three years in its projects in Noida, Greater Noida and Ghaziabad. The development includes 2.33 million square feet commercial area where it will invest Rs 2,500 crore besides Rs 1,500 crore in luxury high-end residential project in Ghaziabad's Indirapuram. The group said at the forefront of its works stands the ongoing project, Saya Status, adjacent to the Noida-Greater Expressway, which is set to be India's tallest mall and encompasses a vast expanse of 1.4 million square feet, according to a statement. The anticipated possession of Saya Status is slated for 2025, it added. Saya Group's Chairman and Managing Director Vikas Bhasin claimed an "impeccable track record of...

16Nov

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Health

‘Get out’: father of boy killed by mould in flat sends message to other tenants – video | Society

The father of Awaab Ishak, the two-year-old who died because of mould in a social housing flat, has pleaded with tenants to 'waste no time' in complaining and to simply 'get out' if they find themselves exposed to similar problems. Speaking in his first national newspaper interview since Awaab died in December 2020, Faisal Abdullah, 31, also called on the government to introduce strict deadlines for landlords to tackle mould in the private rented sector as well as in social housing – an extension of the so-called Awaab’s law, which is expected to come into effect for social housing Read more here

U.S. Home Prices Rose to Record in August

31Oct

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World

U.S. Home Prices Rose to Record in August

Updated Oct. 31, 2023 9:15 am ETHome prices rose in August to a record high as a shortage of homes for sale kept the market competitive.The S&P CoreLogic Case-Shiller National Home Price Index, which measures home prices across the nation, rose 2.6% from a year earlier in August, compared with a 1.0% annual increase the prior month. The August level was the highest since the index began in 1987.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

The Chinese Financial Crisis Nobody’s Talking About

26Oct

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Business

The Chinese Financial Crisis Nobody’s Talking About

Economists have wondered for months whether China’s property meltdown would trigger a financial crisis. The consensus so far has been that it won’t. But perhaps the financial crisis has been here all along, right under our noses.The answer hinges on how you define the terms “financial,” “crisis” and “financial crisis.” Conversations about financial crises in China or anywhere else conventionally focus on banks or overtly bank-like institutions as the core of the financial system. We care about their fate because these companies are particularly exposed to ill economic winds and also are peculiarly capable of collapsing on top of the rest of an economy. But there are plenty of companies you might not call a bank that operate as one—especially in China.Copyright ©2023 Dow Jones & Compan...

Home Sellers Take On the Realtors Cartel

23Oct

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Business

Home Sellers Take On the Realtors Cartel

The 1.5 million-member National Association of Realtors spent $81.7 million on political lobbying in 2022, more than any other business group. Behind the teachers unions, it ranks as the most powerful special interest in the country. Though it claims to help consumers, it is a cartel that seeks primarily to enrich its members by expanding government control over middle-class Americans’ largest source of wealth: their homes.Consider Burnett v. NAR, a federal class-action suit that Missouri home sellers have brought against the association. The case, which went to trial last week, presents an existential threat to the cartel. If the plaintiffs prevail, home buyers and sellers could save $120 billion in fees each year. Half of the country’s real-estate agents who work as buyer brokers might ...

Home Sales Slide to Lowest Pace Since 2010 as High Rates Squeeze Market

19Oct

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World

Home Sales Slide to Lowest Pace Since 2010 as High Rates Squeeze Market

Updated Oct. 19, 2023 10:46 am ETHome sales fell in September to the lowest rate in 13 years, showing the corner of the economy most weakened by high interest rates remains in decline.For all of 2023, sales of previously owned homes are on track to be the lowest since at least 2011, because increased rates are weighing on demand. But high rates are also limiting the inventory of homes on the market, because homeowners with low rates are unwilling to sell and move. The small supply is pushing home prices higher in much of the U.S.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8