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World Property Journal
Trends
- 1
WSJ reports that Oracle co-founder and billionaire Larry Ellison is buying up properties in his neighborhood, expanding an already large real estate portfolio. The report draws attention to how the world's wealthiest tech figures are using their fortunes to assemble vast private landholdings, particularly in exclusive residential areas.
- 2US Mortgage Rates Reach 7.28 Percent, a Three-Year High▼U.S. Mortgage Rates Hit 7.28 Percent in October, a 3-Year High
Average US mortgage rates climbed to 7.28 percent in October, the highest level in three years, according to World Property Journal. The surge adds sharply to borrowing costs for homebuyers and is expected to cool housing demand, with homeowners holding lower-rate loans showing little incentive to sell.
- 3Larry Ellison Lists Florida Oceanfront Estate for $165 Million●Larry Ellison Wants $165 Million for His Oceanfront Estate in Florida
Billionaire Oracle co-founder Larry Ellison has put his oceanfront estate in Palm Beach, Florida on the market for $165 million, according to the Wall Street Journal. The asking price puts the property among the most expensive home listings in the country, drawing attention to the continued strength of Florida's ultra-luxury real estate market, which has attracted a wave of wealthy buyers in recent years.
- 4U.S. New-Home Sales Rise in August but Affordability Weighs▼U.S. New-Home Sales Uptick in August, Affordability Remains a Drag
Sales of newly built homes in the United States increased in August, according to a report from World Property Journal. Despite the monthly uptick, high prices and borrowing costs continue to limit how many Americans can afford to buy, keeping overall housing activity subdued. The figures point to a market recovering only modestly while affordability remains the key obstacle for buyers.