With home prices near a record high and mortgage rates remaining elevated, renting a place to live around the U.S. is today considered a better alternative to buying. But here’s the catch: Rents are surging, too. Zillow calculates that renters need at least $80,000 in annual income to comfortably afford the typical apartment rental — up from…
Reaching the six-figure salary threshold may be considered a financial victory for many Americans, but in a many big U.S. cities the once aspirational milestone just doesn’t cut it anymore. In one out of four large metro areas in the United States, a family of three with a household income of $100,000 will still struggle…
Rents in Hong Kong hit a five-and-a-half-year high in February amid an increase in demand after a lull during the holiday season, according to Centaline Property Agency, which expects rents to continue rising as economic uncertainty discourages more people from buying homes. Centaline’s widely followed Centa-City Rental Index, published on Monday, rose 0.46 per cent…
Los Angeles — As firefighters continue their progress containing the deadly wildfires in the Los Angeles area, a new crisis is emerging. The wildfires have destroyed more than 12,000 structures, and a Southern California housing shortage that was already serious has been made even more dire. Aurielle Hall, a single mother to her 12-year-old daughter…
Hong Kong’s diverging housing rents and home prices are turning more renters into buyers, especially new arrivals under the city’s various talent schemes, offering a potential salve to the real estate slump. At the same time, attractive rental returns, lower interest rates and the end of duties aimed at non-residents are drawing more buyers from…