In this article Markets like Denver, Washington, D.C., and Miami, where cultural attractions and scenic beauty abound, are appealing places to live. These sexy markets flourished during the pandemic, but they may be losing steam, according to some accounts. For example, as high earners from the East and West coasts move to Miami, longtime residents are
In this article It’s been six months since the COVID-19 Public Health Emergency declaration ended, and while the virus is still around, lockdowns feel like a distant memory as economic activity has rebounded and the labor market has recovered. The chips have fallen, and the effects of the pandemic have been pervasive in the real estate industry.
In this article Last month, the Biden-Harris administration announced a series of actions designed to facilitate the conversion of vacant office properties for residential use. In Q2 of this year, the nationwide office vacancy rate hit 18.2%, a 30-year high, according to CBRE. Meanwhile, the U.S. is facing a severe shortage of available housing. As of Q4 2020,
In this article A federal jury has decided that several brokerage firms colluded with the National Association of Realtors (NAR) to enforce inflated commission rates. According to the plaintiffs, the conspiracy was evident through a written rule that requires sellers’ agents to offer a set rate of compensation to the buyer’s agent when listing a property on
In this article Home equity sharing agreements, which allow property owners to get a lump sum of cash in exchange for a portion of their home’s future appreciation or value, are moving from a niche product to a more popular option for funding a variety of needs. In July, DBRS Morningstar, the fourth-biggest credit ratings
In this article “Enough is enough,” said Redfin’s leadership team in a letter published earlier this month, addressing the actions of the National Association of Realtors (NAR), the largest trade organization in the nation. Redfin will no longer support the NAR due to multiple sexual harassment allegations and gatekeeping policies seen as anticompetitive and contrary to Redfin’s
In this article Researchers at the Department of Housing and Urban Development (HUD) are creating an experiment that relies on a simple concept to achieve greater housing security—the project would provide direct payments, in the form of prepaid debit cards, to low-income renters on the wait list for housing vouchers. Recipients would be entitled to no more money than a
In this article RE/MAX has agreed to pay $55 million to remove itself from two class action lawsuits that allege a violation of the Sherman Antitrust Act. In addition, the brokerage has committed to changing some of its business practices, including ending the practice of requiring sellers to pay commissions to buyer’s agents. These outcomes could have
In this article There’s nothing quite like stepping out onto the sand to gaze at the ocean or looking out over a lake. It’s a luxury sought by homebuyers and travelers alike. Demand for waterfront homes, along with their limited supply, means that homes with a waterfront view are worth about 78% more on average,
In this article Nationwide, cities continue to impose new regulations on short-term rentals, effectively putting Airbnb hosts out of business in some areas. So far, legal attempts to fight the restrictions have been largely unsuccessful. For example, Airbnb and several local hosts brought lawsuits against New York, but both were dismissed, and new rules that prohibit short-term
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