real estate

Young people shouldn’t save for retirement, new research says

Most financial planners advise young people to start saving early — and often — for retirement so they can take advantage of the so-called eighth wonder of the world – the power of compound interest. And many advisers routinely urge those entering the workforce to contribute to their 401(k), especially when their employer is matching …

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US home prices climbed in July, but showed a ‘forceful deceleration’

US home prices continued to climb in July. But the market showed signs of cooling as rising mortgage rates pushed more prospective buyers to the sidelines. Home prices rose 15.8% in July from the year before, a smaller jump than the 18.1% growth seen in June, according to the S&P CoreLogic Case-Shiller US National Home …

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Take no prisoners: In the Fed’s inflation fight, no one is spared

New York CNN Business — Call it the “Take No Prisoners” economy. Recession worries are deepening around the world. Mortgage rates are spiking and housing is stalling. Tea Dow is at a two-year low and near a bear market. Global central banks are jacking up interest rates with no end in sight until high inflation …

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Home buyers are canceling purchase contracts. What to know before you do

Steve Pfost | Newsday | Getty Images Amid higher interest rates and a softening housing market, home buyers are continuing to back out of purchase contracts at an elevated rate. About 64,000 home-purchase agreements were canceled in August, according to a new report from Redfin. That’s equal to 15.2% of home contracts initiated during the …

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Back-to-work barometer falls short of measuring up to reality as offices fill up

There’s good news for Manhattan office landlords: Physical building occupancy rose to 46.6% for the seven-day period ending Sept. 14, according to the much-followed Kastle Systems Back-to-Work Barometer. The post-Labor Day jump was a huge increase over Kastle’s tally of 38% from the previous week – and a quantum leap over the low 20s last …

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Fed meeting ahead will decide whether stocks can stabilize or fall back to bear market lows

The Federal Reserve is expected to raise interest rates by another three-quarters of a point Wednesday, but it is what it signals about future rate hikes that will drive markets. The central bank’s two-day meeting Tuesday and Wednesday comes in a week where investors will also be on high alert for more guidance about corporate …

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Can you avoid that 6% mortgage rate? Here’s what pros think will happen next with mortgage rates

What might mortgage rates look like this month? Getty Images This past week, average 30-year mortgage rates crossed the 6% mark — though many borrowers can still snag lower lower rates than that — after staying below that for most of July and August, Bankrate data revealed. So we asked pros: What will happen next? …

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These are the 10 major housing markets that just saw the biggest declines in home equity

Plus, what to know if you’re thinking about taking out a HELOC. Getty Images/iStockphoto As home prices soared in recent years, homeowners enjoyed record levels of tappable home equity, which is the amount of money a homeowner can borrow against while keeping a 20% equity stake. But that’s all changing as home prices begin to …

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4 takeaways from the Investing Club’s ‘Morning Meeting’ on Tuesday

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 am ET. Here’s a recap of Tuesday’s key moments: Oscillator says market still oversold Our trades on DVN and CRM Quick mentions: HON and LLY Watching these bullpen stocks 1. Oscillator says market still oversold Stocks were in the …

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