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New York Real Estate Articles - New York City Real Estate - Real Estate New York - Commercial Real Estate New York - New York Real Estate Agents - Real Estate Agent New York - New York Real Estate Agent - Real Estate in New York - New York City Apartments - New York Apartments - Apartments in New York
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For More July Real Estate Articles Click A Page Below |
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Housing slump gets longer, and longerThe slump in home sales and prices will be deeper and last longer than previously expected, according to the latest forecast Wednesday by the National Association of Realtors. The trade group is now looking for flat prices for existing homes in the first quarter of 2008 compared to the first quarter of 2007, and a more year-over-year declines for new home. "Buyers now have an overwhelming advantage given the wide selection of homes available in many markets," said Lawrence Yun, NAR senior economist, in the group's forecast statement. CNNMoney.com
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Housing Board Set To Raise Rents by 2%, to 7.5% The annual vote to raise rents on the city's 1 million rent stabilized apartments could turn ugly again this year, with tenant activists opposing rent hikes and landlords saying the proposed increases are not high enough to cover rising costs. "If you want to save the rental housing that is affordable, then you need to start providing reasonable rent increases so people can maintain property and aren't tempted by the for-sale market," he said. The New York Sun |
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As Buildings Rise, Construction Salaries FollowThe city's latest building boom is giving some carpenters, electricians, and other construction professionals extra cash to pay for new homes, cars, and renovation projects. Mr. MacShane said he joined a moving company for about four years during the late 1990s to ride out a building drought. He probably could have found some construction work at the time, he said, but it would have been sporadic. The New York Sun |
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Mortgage rate jump reverses declinesMortgage rates gained substantially this week, nearly erasing the declines they've seen over the last three weeks, Freddie Mac reported Thursday. The government-sponsored loan buyer said the average rate on a 30-year fixed-rate loan rose to 6.73 percent for the week ending July 12, from 6.63 percent the previous week. Five-year adjustable-rate mortgages (ARMs) averaged 6.35 percent this week, up from 6.29 percent last week. A year ago, the 5-year ARM averaged 6.33 percent. CNNMoney.com |
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