Don't panic, a looming recession may be good news for those wanting to sell their homes. The experts say this recession may happen in 2020, so there is still plenty of time to make plans for how to deal with a potential economic downturn.
New York Penthouse Sells For $238 Million – Is This A Real Estate Bubble About To Burst?
The most expensive home sold in America, so far, was a New York penthouse that sold for $238 million in January 2019. It is on the top of a building that overlooks Central Park. The 26-story luxury condo building designed by Robert A. M Stern is nearly all sold out.
Case-Shiller: Home Prices Growth Slows in March
Home price growth slowed again in May according to Case-Shiller home price indices. Home price growth slowed for the 14th consecutive month to its lowest rate in 12 years. Case-Shiller's National Home Price Index showed 3.40 percent growth year-over-year in May as compared to April's year-over-year reading of 3.50 percent.
The Community Reinvestment Act Explained In Simple Terms
The federal government adopted the Housing and Community Development Act in 1977, and the Community Reinvestment Act (CRA) portion was designed to prompt lending institutions to provide mortgages for low- and moderate-income Americans. The underlying reasoning for the CRA was to discourage discriminatory lending practices that inhibited low-income communities and neighborhoods.
NAHB: Housing Market Index Rises 1 Point in July
Home Builder sentiment rose one point in July according to the National Association of Home Builders Housing Market Index. 2019 builder confidence in housing market condition continued to fall short of 2018 levels. July's Housing Market Index reading of 65 was one point higher than June's reading.
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