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The Latest Breaking News on Real Estate

Is a Land Value Tax the Solution to Detroit's Messed Up Property Tax System?

Detroit Mayor Mike Duggan argues that shifting taxes from homes to the land they sit on will encourage development and cut taxes for most homeowners. Local property tax activists aren't convinced.

Reason

Rogue landlord of 22 bedroom Kensington property so damp mushrooms grew on walls is fined £500,000

Landlord of multi-occupancy property on edge of Hyde Park given 'record fine' for safety breaches

Evening Standard

Donald Trump Calls Attorney General ‘Political Hack’ In Testimony, Says Fraud Trial Is ‘Election Interference’

On Monday, former President Donald Trump took the witness stand to share testimony on the business dealings of the Trump Organization in a civil fraud trial

Zenger

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More pain for borrowers as big banks pass on rate hike

Three of Australia's biggest banks have hiked interest rates in response to the Reserve Bank's latest cash rate increase.

AAP

What WeWork filing for bankruptcy in the US means for London's office market

WeWork says London is and always will be, one of the firm's most important markets

Evening Standard

The Reserve Bank’s 13th interest rate rise is tightening the squeeze. But a pre-Christmas shock looks unlikely

RBA governor Michele Bullock’s debut rate rise as governor looks unlikely to be repeated next month

The Guardian - AU

Renters will remain in fear of losing their homes, charity says

Housing and homelessness charity Shelter accused the Government of having given in to Conservative backbenchers.

The Independent UK

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House prices rise for the first time in six months, say Halifax - but are still lower than a year ago

A lack of supply has strengthened prices in the short-term, mortgage providers said

The Independent UK

What is the Renters’ Reform Bill and what are no-fault evictions?

New legislation promises ‘once-in-a-generation overhaul of housing laws’ but both landlords and tenants have expressed scepticism

The Independent UK

'Victory' for Londoners in leasehold reforms but still much more to do, warn campaigners

Ministers have long-vowed to change the controversial leasehold system

Evening Standard

Home, studio, a way to sell abandoned items: the many uses of self-storage

Priced out of their homes or unable to rent office space, some people in the US live or work in storage units. A few renters explain what they do with their spaces

The Guardian - US

Ban to be put on the creation of new leasehold houses in England and Wales

The Government will also consult on capping existing ground rents and the standard lease extension term will be increased from 90 years to 990 years.

The Independent UK

Renters Bill provides benefits for both tenants and landlords, Government says

The Bill is said to be part of the plan to support 11 million private tenants and 2.3 million landlords in England.

The Independent UK

Where Do Homes Sell the Fastest?

Houses sell the fastest in Massachusetts and New Hampshire, new study shows, and slowest in Montana and New York.

Kiplinger

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The Independent UK

Family of Captain Sir Tom Moore told to demolish unauthorised spa pool

Hannah Ingram-Moore and her husband Colin lost their appeal against the demolition order.

The Independent UK

Average UK house price jumped by about £3,000 in October, says Halifax

A low supply of homes for sale is likely to have strengthened prices in the short-term, the bank said.

The Guardian - UK

UK house prices rise for first time since March amid supply shortages

Market likely to fall in short term amid high interest rates and living cost pressures, says Halifax

The Independent UK

Why are Trump’s children testifying at New York civil fraud trial?

Former president Donald Trump’s three eldest children, Donald Jr, Eric, and Ivanka, are testifying in the civil fraud trial against the Trump Organization

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The Guardian - UK

UK interest rate cuts expected in 2024; German recession risks rise as factories struggle; oil price drops – as it happened

The yield on UK government bonds drops as the City expects interest rates cuts next summer, as German factory output falls again

Evening Standard

House prices rose by 1.1% in October says Halifax

Bank says sellers are being cautious leading to few homes for sale

Chicago Sun-Times

Horoscope for Tuesday, Nov. 7, 2023

There are no restrictions to shopping or important decisions. The moon is in Virgo.

The Guardian - AU

We know rate hikes lead to higher mortgage payments – but they affect Australia’s economy in myriad other ways

What prompted the RBA’s Cup Day interest rate decision? The answer in a word is inflation far exceeding expectations

The Guardian - AU

Afternoon Update: interest rates hit 12-year high; pro-Palestine protest at Melbourne Cup; and 18th-century love letters

Reserve Bank lifts cash rate by 25 basis points to 4.35%

The Independent UK

Australian central bank lifts benchmark cash rate to 4.35% with 13th hike

Australia’s central bank has lifted its benchmark interest rate for the first time since June with a quarter percentage point hike that brought the cash rate to a 12-year high of 4.35%

The Guardian - AU

RBA interest rates: Reserve Bank hikes cash rate by 25 basis points to 4.35%

Quarter-point increase to the cash rate will add roughly $100 to monthly repayments for a standard mortgage of about $600,000

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