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The British Columbia government is loosening the rules for payment of development fees in a bid to jump start home construction that has been hampered by upfront costs. Housing Minister Ravi Kahlon says among the biggest changes will be more flexible and extended payment timelines for homebuilders, so instead of paying development fees up front,…
A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage rates fell last week to the lowest level since April, leading current homeowners to seek savings. Applications to refinance a home loan rose 7% last week compared with the previous week, according to the…
The southwest corner of Roosevelt and Finley roads in Lombard is showing signs of new life. Brian Hill/bhill@dailyherald.com A former Dania furniture store, an old bank and some auto service shops had been fading into obsolescence near the border of Lombard and Glen Ellyn. The long-stagnant properties at the southwest corner of Roosevelt and…
Higher mortgage rates and uncertainty in the broader economy continue to weigh on consumers — and consequently on the nation’s homebuilders. Builder sentiment in June dropped 2 points from May to 32 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Anything below 50 is considered negative. The index stood at…
Homes, light industrial buildings, parks and pedestrian-friendly roads are part of the Ivanhoe Village concept proposed for northwest Mundelein. Courtesy of village of Mundelein Legislation clarifying municipal officials’ ability to impose fees that help schools pay for construction necessitated by new housing developments has cleared the Illinois General Assembly — but it isn’t being enacted…
After several years of deep distress, the beleaguered U.S. office market has reached an inflection point. This year, office conversions and demolitions will exceed new construction for the first time in at least 25 years. Simply put, more office space is being removed than added, shrinking the overall office footprint, according to exclusive new data…
Colorado municipal leaders will soon be able to temporarily take control of chronically dilapidated apartment buildings under new legislation signed into law this week that was inspired by a now infamous group of properties in Denver and Aurora. Senate Bill 20 gives cities and counties explicit authority to pursue civil actions — like fines or…
Toronto landlords are trying to lure in tenants with rent-free months, complimentary Wi-Fi and $500 gift cards amid an unprecedented supply of condos and lower rents. Real-estate market experts say the fierce competition – which extends beyond the Greater Toronto Area – is giving renters more negotiating power, echoing trends last seen during the COVID-19 pandemic. Two…
Russia’s Central Bank warned Wednesday that rising home prices in early 2025 signal increased bubble risks in the country’s primary real estate market. To gauge overheating, policymakers track indicators such as mortgage lending, rental prices, household incomes and construction activity. “In the primary real estate market, all of these indicators were on the rise until the…
A home is seen for sale on April 24, 2025 in Austin, Texas. Brandon Bell | Getty Images Mortgage rates rose for the third straight week last week to the highest level since January, but some homebuyers were undeterred. Mortgage applications to purchase a home climbed 2% compared with the previous week and were 18%…
