UK housing market is on fire, warns Bank of England chief economist

Continued rise stoked by tax breaks and demand from well-off households likely to deepen inequality, says Andy Haldane Last modified on Tue 8 Jun 2021 15.25 EDT Britain’s housing market is “on fire” thanks to the extension of government tax breaks for homebuyers and increased demand from richer households with more savings following coronavirus lockdowns, […]

U.S. Housing Starts Plunge 10.3% In February, Pulling Back Further Off 14-Year High

New residential construction in the U.S. showed a substantial decrease in the month of February, according to a report released by the Commerce Department on Wednesday, with housing starts extending the sharp pullback seen in the previous month. The report said housing starts plummeted by 10.3 percent to an annual rate of 1.421 million in […]

U.S. Pending Home Sales Unexpectedly Show Steep Drop In January

With inventory constraints continuing to hold back prospective buyers, the National Association of Realtors released a report on Thursday showing a steep drop in U.S. pending home sales in the month of January. NAR said its pending home sales index tumbled by 2.8 percent to 122.8 in January after rising by 0.5 percent to an […]

U.S. Homebuilder Confidence Unexpectedly Inches Higher In February

Homebuilder confidence in the U.S. has unexpectedly seen a modest improvement in the month of February, the National Association of Home Builders revealed in a report on Wednesday. The report said the NAHB/Wells Fargo Housing Market Index inched up to 84 in February after falling to 83 in January. Economists had expected the reading to […]

Housing the best performing sector of economy as fears mount over downturn

Housing market is the ‘best performing segment of the economy’: NAHB CEO NAHB CEO Jerry Howard discusses the mass exodus from cities creating a high demand in the housing market and regulations slowing down home building. The National Association of Home Builders CEO Jerry Howard said Wednesday that although the housing market is currently the […]

U.S. New Home Sales Plunge Much More Than Expected In November

After reporting an unexpected drop in U.S. new home sales in the previous month, the Commerce Department released a report on Wednesday showing an even more substantial decrease in new home sales in the month of November. The Commerce Department said new home sales plunged by 11.0 percent to an annual rate of 841,000 in […]

National eviction ban will be extended through January in stimulus deal

The next stimulus package will continue the ban on evictions for another month. The relief bill also allocates $25 billion in rental assistance. A bipartisan coronavirus aid deal that lawmakers struck on Sunday will extend the national eviction moratorium through January and establish a rental assistance fund of $25 billion. The relief comes as the […]

Next stimulus package may include eviction moratorium and $25 billion in rental assistance

In a summary of bipartisan legislation circulated on Wednesday, lawmakers included a national eviction moratorium until February, 2021, and $25 billion in rental assistance for tenants who've fallen behind in the pandemic. Housing advocates warn of a historic eviction crisis without more government intervention. Displaced families worsen the spread of Covid, research finds. The next […]