PacWest Bancorp Shares Rise Following Agreement to Sell Lending Unit
Shares in PacWest Bancorp rose by 6.4% during premarket trading on Wednesday following the mid-sized lender's announcement that it would sell its property lending unit later in the week. The company's shares remain 68% lower since the start of the year despite the daily...
Housing Market Affordability Expected to Remain Low, Experts Warn
Real estate experts have warned that the U.S. housing market appears unlikely to become significantly more affordable in the near term. This comes as both mortgage rates and home prices remain high.
Bankrate mortgage analyst Jeff Ostrowski claimed that while mortgage rates and home prices...
Shares in Real Estate Broker Compass Surge By 47%
Shares in real estate broker Compass ended the week 47% higher after it reported that it had gained market share in the first fiscal quarter of the year. This unexpected news comes as raised interest rates and a lack of homes for sale beat...
Gen Z Homebuyers Leverage Social Media
Data published by Redfin revealed that 30% of Gen Zs who are aged 25 owned a house in 2022. This rate is higher than both Millenials (28%) and Generation Xs (27%) when they were the same age. Only Baby Boomers outpaced Gen Zs, with...
Saudi Arabia’s Dar Al Arkan Signs Deal With Trump Brand for $4 Billion Project in Oman
Saudi Arabian real estate developer Dar Al Arkan announced that it had reached an agreement with former U.S. President Donald Trump's company to use the Trump Brand for a project that it plans to launch in Oman.
The $4 billion project is a joint...
BlackRock and Other Funds Cut China Exposure Amid Real Estate Crisis
BlackRock and several other of Asia's largest high-yield bond funds have limited their exposure to China's real estate sector as the country's liquidity crisis continues to worsen.
According to a report by research firm Morningstar Inc, BlackRock is not the only fund that has suffered...