Sinking Land Increases Climate Change Risk To Coastal Properties

Sinking Land Increases Climate Change Risk to Coastal Properties

Studies of coastal properties around the world have found that the land there is sinking, which may be dramatically increasing the risks to these properties from climate change. This is due in part, ironically, to measures intended to deal with problems caused by other aspects of climate change. As a result, developers and homeowners will need to work more quickly and think more carefully about mitigating the risks that flooding and other climate factors may pose to their properties.

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Affordability Issues Plague Prospective Homeowners

Affordability Issues Plague Prospective Homeowners

People who may be interested in purchasing a home are struggling to do so, as they find themselves confronting affordability issues that prevent them from even getting their foot in the door. The combination of a high cost of living plus stagnant wages have meant that many people cannot keep up with high home prices, preventing them from even being able to put a down payment on a home. This is having a depressive effect on the real estate market that is unlikely to stop until wages go up or prices come down.

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Supreme Court Declines Challenge To Rent Stabilization Laws

Supreme Court Declines Challenge to Rent Stabilization Laws

The United States Supreme Court has chosen not to take up two lawsuits that were brought challenging New York’s rent stabilization laws. The lawsuits would have, if successful, potentially undermined the state’s regulations on rent stabilized apartments, potentially allowing landlords to increase the rates on regulated apartments dramatically. However, their rejection means that these laws will remain in place, at least for now.

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Hong Kong Court Orders Evergrande To Liquidate

Hong Kong Court Orders Evergrande to Liquidate

A Hong Kong court ordered real estate giant Evergrande to liquidate its assets, ending a long legal battle over the fate of what has been described as “the world’s most indebted property developer.” The company filed for bankruptcy in the United States in 2023 after it was found that it was unable to meet its obligations, resulting in it defaulting on its debts. Though Evergrande primarily operated in China, the effect of its liquidation in bankruptcy is likely to reverberate throughout the global economy, and in particular in the real estate sector.

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10% Increase In Mortgage Demand In Second Week Of January

10% Increase in Mortgage Demand in Second Week of January

The second week of January saw a substantial increase in mortgage demand, with the total number of applications for mortgages increasing by approximately 10%. This rise in mortgage demand affected both refinancing and new mortgages, which both went up during that same time period. This is largely attributed to declining interest rates, helping to bring the price of mortgages into more affordable levels for potential buyers.

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A Mirrored Set Of Problems In Commercial, Residential Real Estate

A Mirrored Set of Problems in Commercial, Residential Real Estate

Both the commercial and residential real estate sectors are facing serious troubles, albeit for almost entirely opposite reasons. The residential real estate market has been significantly hampered due to high housing prices and a lack of available inventory, while commercial real estate is facing a potential crisis from a glut of available properties that no one seems to want to buy. In both cases, however, high interest rates have proved to be an aggravating factor, but fortunately that may be getting better in the near future.

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