July 2023

After mortgage rates shot up last year, Ivory Homes, one of Utah’s largest builders, suddenly had few buyers for the hundreds of homes it had under construction. So Clark Ivory, the chief executive, laid off 9% of his staff, and by January he had slashed construction by nearly 80% from its 2022 peak. Then, much

About $24.8 billion of US office buildings were in distress at the end of the second quarter, surpassing previous leading commercial real estate laggards — hotels and retail properties. The total value of offices that were financially troubled or already repossessed by lenders shot up about 36% from the first quarter, MSCI Real Assets reported

Every time the real-estate market crashes, people say, “This time is different.” When there’s distress all around, it’s hard to grasp how there could ever be an upside. But with the benefit of hindsight, you can see that if you’d had enough money when things got bad, you could have made a killing by taking

US homebuilder sentiment rose in July to the highest level in 13 months as buyers continued to opt for new construction amid a tight housing supply. The National Association of Home Builders/Wells Fargo gauge increased for a seventh-straight month, to 56 from 55 in June. The figure matched the median estimate in a Bloomberg survey

Mortgage rates are inches away from 7% – but less than a tenth of U.S. homeowners have a home loan at that rate. In fact, only 9% of all existing mortgages in the U.S. were taken out with a rate of above 6%, according to data from the Federal Housing Finance Agency, and analyzed by