The number of new homes sold in the U.S. in September was lower than the number sold in August, according to a joint report by the U.S. Census Bureau and the Department of Housing and Urban Development. The houses sold were at a seasonally adjusted...
Plummeting commercial real estate prices could cause steep bank losses as people continue to work from home and shop online amid the global pandemic, according to a CNBC report on Sunday (Oct. 25), citing a study from Oxford Economics. Current inactivity caused by COVID-19 is...
Home buying is up — at a heady pace, for the fourth straight month. Behind the data lie a slew of lifestyle changes and demographic shifts, which may have positive ripple effects for the SMBs that line Main Street, and bode well for consumer spending...
Builder confidence is surging for the second consecutive month, hitting a record high of 85 in October, according to the National Association of Home Builders (NAHB/Wells Fargo) Housing Market Index (HMI). The index reached 83 in September, the first time it was higher than 80. ...
Many U.S. commercial properties have lost 25 percent or more of their value as the impact of the coronavirus has taken its toll on hotels, malls and other nonresidential buildings. The Financial Times (FT) reported the evidence of the losses can be seen in the...
Retail sales have seen very modest year-over-year gains since June, but many brick-and-mortar operations continue to suffer amid the pandemic. PJ SOLOMON, the New York global investment financial services company, and the National Retail Federation (NRF), the world’s largest retail trade association, announced on Thursday...
The nation’s banks are anxious about getting loans repaid that are secured against empty office buildings, hotels and malls. Disclosure of these so-called criticized loans, which are warning signs about a borrower’s ability to pay, revealed of the 10 banks that have seen the largest...
The pandemic has shifted attention to every dollar we spend, focusing on necessities, such as shelter and food. As far as housing is concerned, the U.S. has an affordable housing problem — where decent housing is out of reach for millions of low-income Americans. One...
Pinterest is canceling its upcoming lease to move into a San Francisco office that it doesn’t need because its workers will be working from home, a report Monday (Aug. 31) from KCBS Radio said. The plan was for the social media tech giant to lease...
