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30.10.26 - 18:57
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′2008 Called...′: Philly Plans City-Subsidized Mortgages With 3% Down And No Mortgage Insurance (ZeroHedge)
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'2008 Called...': Philly Plans City-Subsidized Mortgages With 3% Down And No Mortgage Insurance
Philadelphia is preparing to launch a city-subsidized mortgage that lets first-time buyers put down as little as 3% and skip private mortgage insurance, with public money covering part of the interest.Called One Philly Mortgage, the program is part of Mayor Cherelle Parker's H.O.M.E. housing initiative. The city's flyer sets aside $25 million for "Low-Interest Mortgage Loans and down payments of no more than 3%," with "No Private Mortgage Insurance required." Parker described it to a special session of City Council in March 2025 as 30-year fixed-rate loans at "competitive interest rates.".@PhillyMayor Cherelle Parker tells @EmilyRPeck that the city hopes to launch its historic mortgage program “before the end of 2026.”“Imagine getting a mortgage, a 30-year commitment, with no PMI,” Parker said, and accessible “with less-than-perfect credit.” #AxiosLive p...
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30.10.26 - 18:57
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The New American Housing Divide: Those With Family Assets And Those Without (ZeroHedge)
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The New American Housing Divide: Those With Family Assets And Those Without
Authored by Martin Armstrong via The Burning Platform,The American dream of homeownership is becoming increasingly dependent upon whether your parents have assets. A new analysis from Rocket Mortgage found that the share of home buyers under 35 purchasing property with a co-applicant over 55 increased 21% between 2018 and 2025, to about one in 30 younger buyers. Meanwhile, total home purchases among Americans under 35 have declined 15% over the same period. The cost of entering the housing market has increased so dramatically that family wealth is becoming a determining factor in who can purchase a home and who remains trapped renting.We have reached the point where income alone tells us very little about a young person's financial circumstances. Two people can earn identical salaries, have comparable education, and work equally hard, yet live in completely different economic realities. One has parents who own their h...
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30.10.26 - 13:06
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Inside Mexico City′s Housing Theft Crisis (Bloomberg)
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In Mexico City, housing theft happens on average 11 times a day, often when homeowners are on vacation or have died, leaving properties vacant. Criminal gangs can take over, claiming ownership in an effort to profit from a gentrification wave that's boosted home prices. (Source: Bloomberg)...
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30.10.26 - 10:25
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UK house prices grow at slowest pace in two years as mortgage rates rise (The Guardian)
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Sluggish growth of 0.5% in October comes as higher borrowing costs put break on marketUK house prices grew by an annual rate of just 0.5% in October, the slowest pace in more than two years, as higher mortgage rates put off potential buyers.The average price for a property in the UK stood at £273,566 in October, flat on the previous month and down from 0.8% in the year to September, according to the lender Nationwide. Continue reading......
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30.10.26 - 08:18
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Japan Housing Starts Fall 2.7% In September (AFX)
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TOKYO (dpa-AFX) - Japan's housing starts declined for the first time in six months in September, data from the Ministry of Land, Infrastructure, Transport, and Tourism showed on Friday.Housing sta......
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30.10.26 - 06:30
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Evergrande liquidators sell controlling stake in property services unit for US$513 million (SCMP)
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Liquidators of China Evergrande Group have agreed to sell a controlling stake in its property management arm to investment firm PAG for HK$4.03 billion (US$513.6 million), as they seek to recover assets for creditors owed US$46 billion.
The sale of a 51.016 per cent stake in Evergrande Property Services could give the profitable business a new controlling shareholder after its parent used billions of yuan of its bank deposits as collateral for loans, leaving the company struggling to recover the......
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