As 30-year mortgage rates hit 6.7%, homebuyers face a ‘payment shock’. Here are ways to save – CNBC | Wordy Zone

Noel Hendrickson/Getty Images Despite signs of a slowdown in the housing market, homebuyers are still feeling the sting of elevated prices and higher interest rates. According to Mortgage News Daily, the average interest rate on a 30-year fixed-rate mortgage on Friday is 6.7%, up from 3.3% at the start of 2022. Alongside this, home prices … Read more

China’s retail sales and industrial production beat expectations in August – CNBC | Wordy Zone

August was marked by extremely hot temperatures in parts of China, leading to temporary power rationing in some regions. Seen here on August 24, 2022, Chongqing’s downtown skyline with some lights turned off to conserve energy during the heatwave. vcg | Visual China Group | Getty Images BEIJING — China on Friday reported data showing … Read more

Is the housing market really collapsing? Redfin’s chief economist shares her predictions – MarketWatch | Wordy Zone

This article is reprinted with permission from The escape house, a newsletter for second home owners and those who want to become one. Subscribe to here. © 2022. All rights reserved. Inflation is high and interest rates continue to rise, leading to much speculation about the real estate market, with many tossing the word ‘crash’ … Read more

Fed policy drives rising home prices despite recession indicators – Barron’s | Wordy Zone

text size A new home under construction in Monterey Park, California Frederic J. Brown/AFP via Getty Images About the author: Susan Wachter is the Sussman Professor of Real Estate and Finance at the Wharton School of the University of Pennsylvania and Co-Director of the Penn Institute for Urban Research. She is currently a member of … Read more

European markets wipe out gains after US inflation data comes out hotter than expected – CNBC | Wordy Zone

US stock futures fall sharply after hot inflation report Stocks on the move: Futures up 8%, Ocado down 10% Shares in Future Plc rose 8.7% on early afternoon trades, topping the Stoxx 600 after the British media company forecast full-year adjusted operating profit would be at the higher end of market expectations. At the bottom … Read more

Housing may struggle in China, but there are green shoots in commercial real estate – CNBC | Wordy Zone

Commercial real estate is a bright spot in China’s real estate market, in contrast to the decline and gloom of the residential real estate market. Real estate analysts and developers said offices, warehouses and business parks are proving resilient and continue to generate steady rental income – albeit discounted due to weaker demand. Hong Kong-listed … Read more

More homes for sale and less demand, but first-time buyers still struggle to open the door – What You Can Do – MarketWatch | Wordy Zone

After two long years of home sellers calling the shots, home buyers are eager to see the real estate market turn in their favor. But modest improvements in the number of housing listings and subdued demand due to higher mortgage rates are unlikely to give buyers all the power anytime soon. Home affordability for first-time … Read more

Here are the top concerns of ultra-rich investors in Asia Pacific – CNBC | Wordy Zone

Singapore has become a hub for private equity in Asia. Roslan Rahman | AFP | Getty Images Ultra-rich investors in Asia-Pacific are turning away from a “wait and see” approach they took at the start of the pandemic amid concerns about market volatility, a new survey by Swiss private bank Lombard Odier has found. The … Read more

“The Emperor Has No Clothes”: Why China’s Reputation for Economic Management Is Being Destroyed – MarketWatch | Wordy Zone

As governments in the US and Europe mishandled disaster after disaster – from the 2008 financial crisis to botched efforts to contain COVID-19 – even advocates of liberal democracy watched with envy as China’s policymakers were troubled by the same with seeming ease waters navigated. But cracks in China’s governance model are beginning to show … Read more

Confused about the housing market? Here’s what’s happening now — and what might happen next — CNBC | Wordy Zone

A “For Sale” sign is seen outside a home in New York. Shannon Stapleton | Reuters The slowdown in the otherwise red-hot real estate boom has been amazingly quick. The US housing market has skyrocketed during the pandemic as housebound people looked for new places to live, boosted by record-low interest rates. Now real estate … Read more