Simon Property Group Inc (SPG.N) offered to buy Macerich Co (MAC.N) for $14.39 billion in a deal that would join the No. 1 and No. 3 U.S. shopping mall owners.
Real Estate
Zeroing in on empty homes, China throws developers a lifeline
Dismayed by the millions of unsold homes in China's troubled real estate market, the Chinese government is taking matters into its own hands: by buying some properties and turning them into public housing. Like a white knight riding to the rescue of distressed developers, a handful of local governments are snapping up thousands of empty homes at hefty discounts and re-selling them to the country's poorest households.
China April home prices fuel hopes of bottoming out, but long road to recovery
China's new home prices fell for the eighth consecutive month in April from a year earlier but were flat from March, adding to hopes that a property downturn which is weighing heavily on the economy is beginning to bottom out.
U.S. mortgage applications fall in latest week: MBA
Applications for U.S. home mortgages fell last week as interest rates rose to the highest level since March, an industry group said on Wednesday.
Home sales vault to 18-month high as supply improves
U.S. home resales surged to their highest level in 18 months in March as more homes came on the market, a sign of strength in housing ahead of the spring selling season.
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Applications for U.S. home mortgages edged up last week as interest rates dipped, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.1 percent in the week ended Feb. 27.
U.S. home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market, a setback that could temper expectations for an acceleration in housing activity this year.
Average new home prices in China's 70 major cities fell for the ninth straight month but showed some signs of stabilizing in the top cities, signaling an improvement in market sentiment after the central bank cut interest rates and lender's reserve requirements.
The number of U.S. properties in foreclosure upon rose 5 percent in January, driven by a jump in bank repossessions, real estate data firm RealtyTrac said on Thursday.
A top U.S. Republican lawmaker will revisit a plan to reduce government involvement in the country's housing finance system, and expects Senate colleagues to be receptive to potential changes, according to an interview aired on C-SPAN on Sunday.
U.S. home resales rebounded in December, but continued low participation by first-time buyers in the market suggested the housing recovery would remain gradual for now.
China's Alibaba Group Holding Ltd is in talks with the South Korean city of Incheon for a 1 trillion won (about $923 million) joint investment on a new business complex, the Dong-A Ilbo daily reported on Monday.
New York City regained its top position among global commercial real estate buyers, unseating London and highlighting the appeal of U.S. properties in general, according to a survey of international investors released Tuesday.
AdvisorHUB, a year-old gossip and news website for the brokerage industry, has become such a part of brokers' daily reading routine that some call it the "New York Post of financial news."
