It all started with mortgages. The worldwide real estate boom was driven by an expansion of residential and commercial real estate lending, and so was the crash that led to the global financial crisis. Now Bloomberg's mortgages columns look at that business five days a week from the perspective of investors, lenders, consumers and economists: because it's still all about mortgages.
Spanish property broker Donpiso pledges on its website it can sell homes within 60 days. That’s possible, said Juan Luis Nolasco, who runs one of the firm’s Madrid branches, only if owners are realistic about prices and the difficulties buyers face getting mortgages after six years of falling values.
Spain’s bad bank is offering seven rented residential blocks for sale in Madrid, Barcelona and Guadalajara, taking advantage of demand from international investors building rental-home businesses in the country.
JPMorgan Chase & Co.’s record $13 billion deal to end mortgage bond probes has terms that undermine U.S. efforts to reduce taxpayer support of the market, according to BlackRock Inc., the world’s biggest money manager.
The number of Americans who owe more on their mortgages than their homes are worth fell at the fastest pace on record in the third quarter as prices rose, a sign supply shortages may ease as more owners are able to sell.
When David and Rivka Wietchner bought a home in the West Bank Jewish settlement of Har Bracha, they swooned over the mountain view, the embracing community and the 375,000-shekel ($106,000) price of a six-room apartment.
Trine Dahl, a broker at Norway’s second-largest realtor DNB Eiendom, says the number of potential buyers at her viewings has fallen by 50 percent in the past year and she now has to make as many as 15 calls to sell an Oslo apartment. A year ago, Dahl says, selling was as easy as sitting at a cash register.
Commercial real estate investors are moving to smaller markets and buying suburban properties as they search for higher returns after snapping up the most desirable buildings in the biggest U.S. cities.
This was supposed to be the year that Herb Harrison found a newer, bigger home to replace his current house in Framingham, Massachusetts. Then, in May, mortgage rates began to rise and he put his hunt on hold.
Japanese Prime Minister Shinzo Abe’s pledge to end 15 years of deflation has prompted the nation’s biggest banks to raise mortgage rates, mobilizing people like Karin Abe to buy a home four years earlier than he had planned.
Investors owning the most senior notes in Europe’s first commercial mortgage-backed securities to default on maturity rejected a “consensual restructuring” of the 601.7 million euros ($792 million) of debt.