5,300 Wells Fargo employees fired over 2 million phony accounts

Everyone hates paying bank fees. But imagine paying fees on a ghost account you didn’t even sign up for.

That’s exactly what happened to Wells Fargo customers nationwide. 

 

On Thursday, federal regulators said Wells Fargo (WFC) employees secretly created millions of unauthorized bank and credit card accounts — without their customers knowing it — since 2011. 

The phony accounts earned the bank… Read More →

Home Prices Are Down, Yet Existing Home Sales Are Slumping. Why?

With mortgage rates lingering near historic lows and home prices retreating from their peak during summer, the busiest home buying time of the year, existing home sales should be skyrocketing. And yet… they’re not.

There just weren’t enough homes bearing those familiar “for sale” signs in July, bringing sales of existing homes (not newly built ones) down 11.7% from a … Read More →

How a low-flying, spy plane is setting your apartment rent

ABOVE SOUTHERN MARYLAND — Andy Florance is spying on millions of miles of real estate in the United States and around the world, as his team is doing on this day over the suburbs of Washington.

 

Using a low-flying, military-grade reconnaissance plane, equipped with cameras once used to gather data over Iraq and Afghanistan, CoStar Group, a commercial real estate … Read More →

Why houses in America are getting smaller

Size matters, especially in housing, but preferences can change quickly, and that is the case today. Small is happening in a big way.

 

For the first time since the recession, home size is shrinking. Median single-family square floor area fell from the first to the second quarter of this year by 73 feet, according to the National Association of … Read More →

10 most undervalued housing markets

Detroit Median home price difference: (2006-2015) -50.08%

 

Detroit has been through some rough times in recent years, but it’s slowly revitalizing.

The city is no longer in bankruptcy, and has experienced an increase in companies opening shop and investing in it, according to James Paine, managing partner at West Realty Advisors.

“There is a big push to get tech … Read More →

Surprising Cities Where Rents Are Rising the Highest

It shouldn’t come as a big shock that as the cost of buying a home goes up, rents are also rising.

But what may come as a surprise are the cities seeing the largest rent hikes. The cost of leasing a roof over one’s head may be sky-high in the red-hot coastal cities of New York, San Francisco, and Miami—but … Read More →

Apartment market ‘increasingly jittery’ for investors

Rents are soaring and demand for apartments is historically high, but some developers and landlords are overestimating the strength of the U.S. apartment market — and paying for it in quarterly earnings.

 

Others are warning that the second half of this year will be even tougher.

Construction of new multifamily units has been robust over the past five years, … Read More →

Why College Towns Make Great Hometowns

For some, it’s the roar of the crowd as the home team scores a touchdown on Saturdays. For others, it’s the quiet, tree-lined sidewalks on the quad or the ability to meet new people at different events at any hour of the day.

Everyone has their own reason to wax rhapsodic about their college town. But even if it’s not … Read More →