The charges amount to the largest number of federal bribery charges ever filed on a single day, according to the Department of Justice.
Category: Markets & Economy
Once China’s biggest developer, Evergrande ordered to liquidate
The developer was once considered too big to fail, but it over-borrowed and was hurt by China’s weakening property market.
Are US home-sale revenues finally bottoming out? Intel examines
The steepest part of the home-transaction downturn appears to be over. Is this where business turns around? Intel dives into the data.
Tale of 2 housing markets will linger into 2024, Zonda economist warns
With listings still in short supply, homebuyers are “dealing with an affordability shock” and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY.
LA developer hit with lawsuit for homeless housing Ponzi plot
California attorney general Rob Bonta claimed in a civil lawsuit filed in LA County Superior Court that Shangri-La Industries illegally put developments in the state’s Project Homekey homeless housing program under threat by borrowing against them.
Falling mortgage rates should boost home sales: Fannie Mae
Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent.
Christie’s International Real Estate expands into Curaçao with affiliate
The luxury brand’s Aruba affiliate, Bold Properties, has expanded into the Caribbean island of Curaçao as demand remains strong among buyers and investors in the wake of the pandemic.
Jump in key inflation gauge may delay mortgage rate relief
Futures markets still hold out hope for a March rate cut, even as annual inflation increased to 3.4 percent in December, moving away from the Fed’s 2 percent goal for the first time since September.
Queens is poised to unseat Brooklyn as hottest NYC borough
A new report from StreetEasy suggests that the World’s Borough will be crowned the hottest borough in New York City after a stellar 2023.
The best time for buyers in Manhattan to pounce? Right now
Manhattan has been experiencing a buyers’ marker since the summer of 2022, a new report argues, but the winds are about to shift.