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What does the next generation of luxury homebuyers want?

Luxury Portfolio International has identified an emerging group of affluent homebuyers who, it believes, will be “powering” the luxury real estate industry in the next three years, it finds in its 2018 report: “The Rise of the New Aristocracy.” The ‘new aristocracy’ The “new aristocracy” are, on average, age 37; they are married, have young […]

Mulvaney revokes powers of CFPB’s fair lending office

The division of the Consumer Financial Protection Bureau that was tasked with ensuring that lenders don’t discriminate against Americans based on race, religion, sex and other factors, has been stripped of its enforcement power by the CFPB’s acting director, Mick Mulvaney, appointed last year by President Trump. The CFPB told secrecy-minded website The Intercept, which broke the […]

The week in financial markets: No sugarcoating it

Tough week, tough day, and no way to sugar-coat. Long-term rates have broken out the top of five years of all-time-low rates, and only the stock market in free-fall has limited the rate damage. Mortgage rates today are 4.50% and may wander here temporarily before rising toward 5.00%, soon. The speed of change in markets […]

Is the Super Bowl a win for local real estate?

Besides being one of America’s most-watched broadcasts in history, The Super Bowl casts far-reaching implications beyond what actually happens on the football field. Businesses in Minneapolis — this year’s host city — will be packed to the brim with raucous fans taking in the full scope of the celebration, which means a spike in hotel prices, […]

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