American consumers are feeling less confident in December, a business research group says.The Conference Board said Monday that its consumer confidence index fell back in December to 104.7 from 112.8 in November. Analysts forecast a rise to a reading of 113.8. Consumers had been feeling increasingly confident in recent months, spending more in the run-up to the all-important holiday shopping season.The consumer confidence index measures both Amer
A New York City home where Bob Dylan lived quietly for years is for sale.The legendary singer-songwriter rented the townhouse on East 49th Street in Manhattan in the 1980s — then loved it so much that he bought it under a business associate's name in 1990 for an undisclosed amount.In 2005, he sold it to the current owners for $4.45 million; they have put it on the market with an asking price of $7.25 million.The five-story home is in Turtle B
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U.S. consumer spending increased in November amid strong demand for a range of goods and services, underscoring the economy's resilience, which saw the Federal Reserve this week projecting fewer interest rate cuts in 2025 than it had in September.There was also good news on inflation last month after a series of warmer readings. The report from the Commerce Department on Friday showed moderate monthly rises in prices, with a measure of underlying
After years of higher interest rates and speculation of a reckoning in the commercial real estate market, the sector may finally regain more momentum in 2025 — albeit at a slower pace than some had hoped for earlier this year.“2025 is a turning point for commercial real estate investment,” Marcus & Millichap CEO Hessam Nadji told me. “The market is beginning to come to terms with the fact that we're not going back to the lows of the
The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since late November, reflecting a recent uptick in the bond yields that lenders use as a guide to price home loans.The rate rose to 6.72% from 6.6% last week, mortgage buyer Freddie Mac said Thursday. The rate is now higher than it was a year ago, when it averaged 6.67%.Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinanc
The Federal Reserve cut its key interest rate Wednesday by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year than it previously envisioned, mostly because of still-elevated inflation.The Fed’s 19 policymakers projected that they will cut their benchmark rate by a quarter-point just twice in 2025, down from their estimate in September of four rate cuts. Their new projections
Whether it’s a customizable light show in the backyard or a stylish clean-air system for the living room, this list has you covered.As the holiday season approaches, it's the perfect time to consider gifts that enhance the comfort, security and efficiency of homes. These three qualities resonate deeply with real estate professionals and their clients. The following curated selection of smart home devices offers innovative solutions to elevate a
The industry has long postponed recognition of falling property values. The bill is coming due. Plus: a Seussian glossary.In the dark days of 2022, when rising interest rates turned commercial real estate into a credit desert, the industry’s perpetual optimists found a rallying cry. Just survive until ’25, they told themselves. By then, inflation would be whipped, money would be cheaper, and demand would again tilt in their favor. But the wi
