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A record number of U.S. homes are now worth $1 million or more
Many million-dollar properties are no longer considered luxury homes, with almost 1 in 10 U.S. houses costing at least that.
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Many million-dollar properties are no longer considered luxury homes, with almost 1 in 10 U.S. houses costing at least that.
Starting Aug. 17, new regulations will change how real estate commissions are handled, potentially lowering costs for homebuyers and sellers. Under the new rules, buyers and sellers will have the opportunity to negotiate commissions directly with their agents, a shift that could impact everyone involved in the real estate market.
Mortgage rates are finally starting to come down, which is giving some homeowners a bit of relief. But many looking to buy could still face unaffordable prices and a tight market. Elise Preston has more.
Many so-called zombie mortgages date back to the 2008 financial crisis, and consumer advocates warn a new wave of zombies could be on the horizon — this time, from all the home equity credit lines taken out during the pandemic.
Zombie debt refers to long-forgotten or old debts that resurface, often with accumulated interest and fees, threatening the financial stability of unsuspecting homeowners and sometimes leading to foreclosures. CBS News national consumer correspondent Ash-har Quraishi reports.
Teresa modified her home mortgage back in 2009 during the financial crisis, and thought she was making payments on her second mortgage every month. She's discovered she's overdue on thousands of payments for this "zombie debt," and fears losing her home.
Jose Arzate of Santa Maria, California, says he was taken by surprise when sheriff's deputies evicted him. He says he never knew he owed tens of thousands of dollars in "zombie mortgage" debt.
Laverne Simmons of Inglewood, California, says she never got bills for a decade-old debt. Now this "zombie mortgage" could cost her the home she loves.
The Biden administration wants a new law that would cap annual rent increases at no more than 5% — or landlords would lose a major tax break.
Since March 2023, Maricopa County, Arizona, has led the nation in eviction filings, with one Phoenix judge hearing as many as 500 eviction cases a month. It's part of an affordable housing crisis attributed to rising rents. Kris Van Cleave explains.
Teton County's $108,000 median income is still not enough to afford the $7 million average cost for a home in Jackson Hole.
Squatters' rights were designed to make sure vacant property didn't go to waste, but many property owners say the laws are hurting them and preventing them from clearing out their own land. Carter Evans takes a look at what's being done about the issue.
As home prices nationwide continue to climb, the federal government is looking into a recent spike in upfront costs associated with buying a house.
Home sales appear to have fallen in April, according to new data from the National Association of Realtors. CBS News business analyst Jill Schlesinger breaks down the current trends in the real estate market.
What's the best place to park your money? Americans put their faith in this long-term investment, a new Gallup poll shows.
The Federal Reserve's campaign to snuff out runaway inflation has bogged down this year. Blame housing costs.
Hundreds of thousands of people across the U.S. are losing their homeowners insurance, with four major companies ending coverage in California due to the growing risk of wildfires. Companies in Florida are canceling policies due to increased hurricane risks. Matthew Eby, the founder and CEO of First Street Foundation, a nonprofit that studies climate risks, joined CBS News to discuss .
Some 46.8% of luxury homes were bought entirely with cash in the three months ended February 29, the highest share in a decade, according to Redfin.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
A Los Gatos man who starred in a real estate reality show was sentenced to jail and ordered to pay back nearly $10 million to his victims after admitting to real estate fraud, prosecutors said Tuesday.
Truong My Lan, a 67-year-old Vietnamese property magnate, has received a death sentence after being convicted of embezzlement, bribery and banking violations in a scheme that defrauded the Saigon Commercial Bank of more than $12 billion over a 10-year period.
The house, which was built in 2017, has a five-car garage, and three-and-a-half baths.
The annual income needed to afford even a basic home in the U.S. has risen sharply since the pandemic, a new report shows.
The National Association of Realtors' agreement to resolve all claims against the group by home sellers related to broker commission may lead to homeowners paying a lot less to sell their homes. Tomasz Piskorski, a professor at Columbia Business School, joins CBS News with more.
The National Association of Realtors, which represents more than a million real estate agents nationwide, settled a number of lawsuits Friday. One of the conditions of the agreement is that rules on commissions for agents brokering a home sale will be eliminated, meaning that the standard 5% to 6% commission rate could be gone as soon as this summer.
The Trump administration is firing thousands of federal workers on probationary status, or those without civil service protections.
Hamas released dual U.S.-Israeli national Sagui Dekel-Chen along with two other hostages as the Gaza ceasefire remained on track after a tense week.
Ukrainian President Volodymyr Zelenskyy seeks greater military and economic support from the European Union.
The Justice Department's motion to drop charges against Mayor Adams ends a days-long public over the decision to abandon the case.
Officials at DHS said they had fired hundreds of employees across several of its agencies.
The National Transportation Safety Board gave an update on its investigation into the deadly midair collision between an American Airlines plane and a Black Hawk helicopter.
Secretary of State Marco Rubio announced last week that President Nayib Bukele of El Salvador had agreed to accept deportees from the U.S. convicted of crimes, and also offered to house incarcerated Americans in El Salvador's prisons.
The civil lawsuit accused the rap moguls of raping a 13-year-old in 2000.
The military announced in a social media post on Friday that it will no longer allow transgender people to enlist.
President Trump last week fired the head of the National Archives and Records Administration and installed Secretary of State Marco Rubio as her acting replacement.
On this Valentine's Day, here is a story of 94-year-old Don Barnett and his 93-year-old wife Marilyn, who have kept their love alive for 68 years with a musical elixir.
The case marks at least the third confirmed bird flu hospitalization in the U.S.
The Trump administration is firing thousands of federal workers on probationary status, or those without civil service protections.
Officials at DHS said they had fired hundreds of employees across several of its agencies.
The Trump administration is firing thousands of federal workers on probationary status, or those without civil service protections.
Other eggs will be used by the LA bakery Winter Fate Bakes to make birthday cakes for displaced children.
The daughters of one of the cofounders of Target are expressing their alarm and shock at the discounter's recent moves to roll back its diversity, equity and inclusion program.
Federal layoffs are starting with huge numbers of probationary workers, and there are warnings of bigger cuts on the way.
Elon Musk's "dual roles pose conflicts of interest so obvious that they hardly require explanation," Sen. Richard Blumenthal wrote in the letter obtained by CBS News.
President Trump last week fired the head of the National Archives and Records Administration and installed Secretary of State Marco Rubio as her acting replacement.
Secretary of State Marco Rubio announced last week that President Nayib Bukele of El Salvador had agreed to accept deportees from the U.S. convicted of crimes, and also offered to house incarcerated Americans in El Salvador's prisons.
The Trump administration is firing thousands of federal workers on probationary status, or those without civil service protections.
Officials at DHS said they had fired hundreds of employees across several of its agencies.
The Justice Department's motion to drop charges against Mayor Adams ends a days-long public over the decision to abandon the case.
Reena Caprario said her family was told she was "lucky to be alive" after she experienced a heart attack.
The case marks at least the third confirmed bird flu hospitalization in the U.S.
The Federal Drug Administration last month approved Journavx, a new kind of non-addictive pain medication. Doctors say Journavx is an important alternative because the power of opioids helped fuel an overdose epidemic and a surge in fentanyl use. Stephanie Stahl reports.
A state judge in Texas ordered a New York doctor to pay a $100,000 fine for sending abortion medication to a woman in Texas, where most abortions are banned. The same doctor faces criminal charges in Louisiana. Jericka Duncan spoke to the prosecutor in the Louisiana case.
No states mandate that students receive the COVID-19 vaccine, though other vaccine requirements remain in place.
The Argentine pope was admitted to Rome's Gemelli hospital on Friday after a weeklong bout of bronchitis worsened.
Ukrainian President Volodymyr Zelenskyy seeks greater military and economic support from the European Union.
Hamas released dual U.S.-Israeli national Sagui Dekel-Chen along with two other hostages as the Gaza ceasefire remained on track after a tense week.
Police said Colonel Porfirio Cedeño, who led an air force special operations unit, was the passenger in a van when more than 20 shots were fired.
In Munich, Vice President JD Vance met with Ukrainian President Volodymyr Zelenskyy to discuss ending the war in Ukraine.
Husband-and-wife duo Michael and Tanya Trotter, known as The War and Treaty, released their much-anticipated fourth studio album, "Plus One," on Valentine's Day.
Husband-and-wife duo Michael and Tanya Trotter, also known as The War and Treaty, released their highly anticipated album "Plus One" on Valentine's Day, sharing their love story and personal struggles through powerful music. The couple opens up about their journey in music, overcoming hardships and finding their place in the industry.
Tickets for Beyoncé's new tour are going on general sale Friday, but fans are worried they'll be shut out or their browser will crash. Ticketmaster says buyers had trouble during the presale because of massive demand. National consumer correspondent Ash-har Quraishi has tips to improve your chances of getting tickets.
Television producer Shonda Rhimes and singer-songwriter Ben Folds have also cut ties with the Kennedy Center after President Trump's takeover of the venue.
In the highly-anticipated film "Captain America: Brave New World," Shira Haas stars as Ruth Bat-Seraph, a former Black Widow spy turned U.S. security advisor. She joins Anthony Mackie and Harrison Ford in this action-packed movie. Shira shares more about her role and the experience.
Since being pulled from Apple and Google stores last month, TikTok had remained operational for those in the U.S. who had already downloaded the app, though updates were unavailable.
A video depicting various celebrities protesting Ye, also known as Kanye West, for his antisemitic comments went viral on social media this week. However, the video is completely AI-generated. CBS News confirmed executive editor Rhona Tarrant breaks it down.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
During this week's artificial intelligence summit in Paris, arguments were made that advanced AI is critical in the world's current threat landscape. Many militaries are exploring how advanced AI technology can be integrated into weapons systems, including nuclear missiles. CBS News' Errol Barnett has more.
This week's Paris summit on artificial intelligence ended with the United States and the United Kingdom refusing to sign on to a declaration that calls on the development of AI to be inclusive and sustainable. CBS News White House reporter Olivia Rinaldi has more.
The head of planetary defense at the European Space Agency discusses 2024 YR4, an asteroid with a small chance of striking Earth eight years from now.
The clouds contain carbon dioxide and only form high in Mars' atmosphere.
By switching the next space station crew to a different ferry ship, the Starliner astronauts will get home a bit earlier than planned.
Endangered Mexican long-nosed bats are now being tracked via "eDNA" using their saliva.
Methane is one of the climate-damaging gases emitted by industry, but a British firm has found a way to give it a major makeover.
The civil lawsuit accused the rap moguls of raping a 13-year-old in 2000.
Law enforcement and humane organization officials found hundreds of birds in kept small structures, some with visible injuries.
As part of a plea deal, Andrew Lester pleaded guilty to second-degree assault in the 2023 shooting of Ralph Yarl. He will be sentenced in March.
The family of Justine Vanderschoot, a California teen murdered in 2003, is fighting for justice after learning a change in state law could provide a path to freedom for one of her convicted killers. "48 Hours" contributor Natalie Morales reports.
Police said Colonel Porfirio Cedeño, who led an air force special operations unit, was the passenger in a van when more than 20 shots were fired.
The head of planetary defense at the European Space Agency discusses 2024 YR4, an asteroid with a small chance of striking Earth eight years from now.
The clouds contain carbon dioxide and only form high in Mars' atmosphere.
By switching the next space station crew to a different ferry ship, the Starliner astronauts will get home a bit earlier than planned.
Get ready for the Snow Moon, February's full moon, which is set to peak on Wednesday morning.
Astronomers will use the Webb telescope to closely monitor the size and trajectory of an asteroid that has a slim chance of hitting Earth in 2032.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
Pope Francis remains hospitalized in Rome for bronchitis and other tests. Meanwhile, more than 1 million people lined the streets of Philadelphia to celebrate the Eagles after their Super Bowl win. All that and all that matters in today's Eye Opener.
A group of Iowa teens became heroes in the middle of a school day when they saw a stranger in need of help and sprang into action. Then, Stephen and Elizabeth Wampler share their 30-year love story, and how Stephen overcame obstacles while living with cerebral palsy. Plus, more heartwarming news.
In Tennessee, we look at efforts to train more Black doctors by reducing the financial burdens for medical students at HBCUs. And in California, legendary musician Paul Simon takes us inside an initiative that's working to cure hearing loss. Watch these stories and more on "Eye on America" with host Michelle Miller.
Festivities for the 2025 NBA All-Star Game get underway on Friday in San Francisco, showcasing some of the league's best and youngest stars. CBS News San Francisco's Kelsi Thorud breaks it down.
President Trump signed a largely symbolic executive order on Friday seeking to strip federal funding from schools that require students to be vaccinated against COVID-19. Infectious disease physician Dr. Amesh Adalja joins "The Daily Report" to discuss.