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A single family home is shown for sale and in escrow in San Marcos, California. Mike Blake | Reuters Pending home sales in January rose 5.2%, the National Association of Realtors said Thursday, crushing analysts’ expectations of a 2% monthly gain. They were 5.7% higher on an annual basis. “This month’s solid activity — the second-highest
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Toll Brothers’ home-sales revenues in the first quarter of Fiscal Year 2020 were down 2% at $65.9 million. HORSHAM, PA—National luxury homebuilder Toll Brothers, Inc. has reported lower first quarter earnings, but believes strong home purchase contract volume will improve the company’s balance sheet going forward. Some of the key financial data released by Toll
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Hill Street Studios Older Americans have seen their debt levels increase sharply over the past two decades, straining seniors’ finances at a delicate time — when they’re preparing to retire or have already entered their golden years. The total debt burden for Americans over age 70 increased 543% from 1999 through 2019, to $1.1 trillion,
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The Commerce Department said on Wednesday new home sales jumped 7.9% to a seasonally adjusted annual rate of 764,000 units last month, the highest level since July 2007. Housing market strength could help keep the economic expansion, now in its 11th year, on track. The sector, which accounts for about 3.1% of GDP, is being
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A mixed week for mortgage rates caused a split in application volume between refinances and purchase loans. Total mortgage application volume rose 1.5% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index, which included the Presidents Day holiday. The average contract interest rate for 30-year fixed-rate mortgages with conforming
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Getty Images As a general rule, the higher your credit score, the better off you are. However, a missed payment or default can quickly drag your score down, sometimes significantly. As many consumers know, your credit score plays a big role in daily life. It can determine the interest rate you’ll pay for credit cards,
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Photo by Shutterstock SAN DIEGO—Recently the Federal Housing Finance Agency created a new group with the goal of ensuring that both Fannie Mae and Freddie Mac foster a competitive, liquid and resilient multifamily market. “By creating a new group, it speaks to a commitment and dedication to focus on affordability in multifamily,” according to Siobhan
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Image by Shutterstock Ivy League universities are traditionally (and rightly) thought of as centers of world-class education. But new findings from Reonomy say they, along with other schools around the country, are also becoming real estate power players due to their impressive collection of assets. The Reonomy report, which breaks down the real estate investments
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Jake Reiter Real estate has long been categorized as an illiquid asset, lumped somewhat together with interests in private companies, alternative investment strategies, sports teams etc., in contrast to liquid assets such as stocks, bonds, and currencies. But this view has become outdated, at least for certain real estate asset classes. The markets for workforce
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San Francisco Bridge. NEW YORK CITY- Riaz Capital, a development, construction and property management firm based in Oakland, California, has zeroed in on its $100 million capital commitment goal for its Opportunity Zone fund, securing an estimated $75 million in capital commitments. The funding will support the construction of 12 new housing developments in Oakland Opportunity
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If you want to improve your financial know-how, there are plenty of opportunities to do so. From short online tutorials to extensive in-person bootcamps, the number of “Money 101” classes has ballooned since the Great Recession. And yet, when it comes to financial literacy, Americans are still falling far short. According to a survey by
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Image by Shutterstock WASHINGTON, DC—First, the good news. Respondents to the Real Estate Roundtable’s Sentiment Index are so bullish on the economy that they have decided there is little point in trying to predict the cycle’s end. Essentially, they see no apparent economic hurdles to current market stability. The bad news is that 2020 may
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Michael Bloomberg, former Mayor of New York City, speaks at CityLab Detroit, a global city summit, on October 29, 2018 in Detroit, Michigan. Bill Pugliano | Getty Images Real estate makes strange bedfellows. Mike Bloomberg, the 2020 candidate who is using his personal fortune to try to defeat President Donald Trump on Election Day, owns
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