China’s real estate crisis isn’t over yet, IMF says

China’s real estate market has slumped in the last two years after Beijing cracked down on developers’ high reliance on debt for growth. Future Publishing | Future Publishing | Getty Images BEIJING — China needs to do more in order to fix its real estate problems, the International Monetary Fund said Friday. The property market … Read more

What a Federal Reserve quarter-point interest rate hike means for you

The Federal Reserve raised the target federal funds rate for the eighth time in a row on Wednesday, in its continued effort to tame persistent inflation. That its latest meetingthe central bank approved a more modest 0.25 percentage point increase after recent signs that inflationary pressures have started to cool. “The easing of inflation pressures … Read more

New York attorney general will seek sanctions on Trump

Former US President Donald Trump addresses the crowd during a 2024 election campaign event in Columbia, South Carolina, on January 28, 2023. Logan Cyrus | AFP | Getty Images The New York attorney general’s office on Tuesday said it will ask a judge to impose sanctions on former President Donald Trump and his attorneys in … Read more

3 key things to know before opening a home equity line of credit

HELOC use rose as cash-out refis dropped Last year, as mortgage rates climbed higher, accessing home equity by taking cash against it during refinancing — a so-called cash-out refi — became less appealing. Rates on mortgages went from close to 3% at the beginning of 2022 to a peak of above 7% in the fall. … Read more

Look inside luxury Los Angeles condos seeking record prices

Two developers in California are looking to lure a buyer willing to do something no other buyer has ever done before in Los Angeles history – pay between $50 million and a $100 million for a condo. A deal anywhere near those asking prices would shatter a record in the City of Angels, where no … Read more

Federal Reserve likely to hike interest rates again. How to prepare

The Federal Reserve is widely expected to announce its eighth consecutive rate hike at this week’s policy meeting. This time, Fed officials will likely approve a 0.25 percentage point increase as inflation starts to ease, a more modest pace compared with earlier super-size moves in 2022. Still, any boost in the benchmark rate means borrowers … Read more

London’s luxury home sellers turn to WhatsApp as private sales surge

A growing number of Londoners are opting for novel means of buying and selling their properties, with WhatsApp emerging as a new home for luxury listings. Bloomberg | Bloomberg | Getty Images LONDON — In trying times for the UK real estate market, a growing number of Londoners are opting for novel means of buying … Read more

What is a ‘rolling recession’ and are we in one? Experts explain

By most measures, the US economy is in solid shape. Although the first half of 2022 started off with negative growth, a strong labor market and resilient consumer helped turn things around and give hope for the year ahead. Gross domestic product, which tracks the overall health of the economy, rose more than expected in … Read more

Metros where US rent prices have dropped the most

Colorful cafe bars at the iconic Beale Street music and entertainment district of downtown Memphis, Tennessee. benedek | iStock | Getty Images Despite broad hikes in rental prices, competition is easing in some US markets as inventory grows, according to a new report from national real estate brokerage HouseCanary. At the end of 2022, the … Read more

Beyoncé and a $100ka-night suite at Atlantis The Royal

Beyoncé performs on stage headlining the Grand Reveal of Dubai’s newest luxury hotel, Atlantis The Royal on January 21, 2023 in Dubai, United Arab Emirates. Mason Poole/parkwood Media | Getty Images Entertainment | Getty Images DUBAI, United Arab Emirates — It was the talk of the town. Of the entire country, really — and then … Read more