A significant structural issue forced the evacuation of offices and hotels around East 42nd Street on Tuesday, leading to halted traffic in the area. Fortunately, authorities reported no injuries. Early that morning, a 37-story building undergoing transformation from office to residential use experienced a partial collapse, causing major disruption throughout Midtown Manhattan. This incident took...
A new 48-unit apartment building named Poupard Place has opened in downtown Northbrook, providing affordable housing for individuals with developmental or intellectual disabilities. Located at 1593 Shermer Road, this building was developed by the Housing Opportunity Development Corporation in partnership with the Village of Northbrook. The project targets individuals with disabilities or households with at...
Arpit Gupta, the sole dissenting member of New York City’s Rent Guidelines Board (RGB) regarding the rent freeze, expressed concerns that the policy could lead older rent-stabilized buildings towards disrepair. The freeze, part of Mayor Zohran Mamdani’s campaign promise, worries Gupta as it might make it difficult for landlords to cover their expenses. Gupta, an...
The affordable housing crisis in the United States is immense. A study by the National Multifamily Housing Council and NYU Urban Lab reveals that closing this gap would take over a century in 38 of the country’s 51 largest metropolitan areas based on current construction rates. Rent Burden in the United States Over 22.4 million...
The average rate for long-term mortgages in the United States dropped this week to its lowest point since mid-May. This brings relief to potential homebuyers facing borrowing costs. The benchmark 30-year fixed-rate mortgage decreased from 6.49% last week to 6.43%, according to mortgage buyer Freddie Mac. A year ago, the average rate was 6.67%. Since...
A new month brings changes for many American borrowers. If you’re a homebuyer or looking to refinance, there’s important information to consider. After mortgage rates fell by about one percentage point in 2025, instability this year has reversed much of that decline. Rates, under 6% as recently as April, are now noticeably higher. The Federal...
A significant real estate development featuring over 1,500 residences and transforming three city blocks in downtown Los Angeles received approval from the City Council on Tuesday. The Fourth & Central complex is a $2 billion project that will incorporate residential, office, restaurant, and retail spaces across multiple distinct buildings over 7.6 acres. The current location...
A San Francisco home with a significant history of squatting has been listed on the market for $1.3 million. Despite its neglected state, a buyer is already interested. Located on Yukon Street, near the historic Castro neighborhood, this 2,100-square-foot home has seen many squatters over the past five years. Neighbors have reported frequent police interventions...
Mortgage interest rates might decrease again in July if certain market conditions change. Recent developments in the interest rate environment have been noteworthy. A report from June 10 revealed inflation surging past 4% in May, marking the highest level in over three years. Additionally, a Federal Reserve meeting concluded with the Federal funds rate remaining...
The Minnesota attorney general’s office has taken legal action against a home seller for alleged predatory practices targeting the East African Muslim community. This lawsuit, filed against Chadwick Banken and six of his limited liability corporations, accuses them of violating state and federal laws. These include laws against religious discrimination by selling homes through contracts-for-deed...