Housing prices could soon flatline or even dip, economists warn
Overvalued markets such as Austin and Boise may see prices decline by "double digits," Moody's says.
Overvalued markets such as Austin and Boise may see prices decline by "double digits," Moody's says.
Built in 1906 in the Montecito Hills above Santa Barbara, Calif., El Fureidis, the Mediterranean-inspired home of real estate tycoon James Waldron Gillespie, is an oasis of tranquility and class, in a lush 10-acre property. Jane Pauley takes us inside. (Originally broadcast May 22, 2022.)
Home prices fell for the first time in 3 years last month, marking the sharpest decline since 2011. Real estate analyst Erin Sykes joins "CBS News Mornings" to discuss the latest.
Baltimore family sues appraiser and mortgage lender after their home was allegedly undervalued because they are Black.
Retailer's profits plunge after it slashes prices to clear unwanted inventories of clothing, home goods and other items.
"The momentum of economic recovery has slowed," a government spokesperson said.
Almost 1 in 7 listed properties have seen a recent price drop — double the rate from a year earlier.
"All they care about is raising the rent because they only care about the money," said one disabled resident.
Home prices are skyrocketing amid a shortage of properties — a crisis spreading to once-affordable towns across the U.S.
But sales of previously occupied homes have slowed sharply amid higher mortgage rates and rising prices.
Nick and Meghan Lucido were in debt and sold everything. Then, they decided to invest in a shed from Home Depot as their temporary home – and it proved to be fruitful.
Until recently, only residents of Ukraine's Donetsk, Luhansk, Zaporizhzhia and Kherson regions were eligible.
Home prices in Las Vegas have dropped for the first time in over two years. According to the Las Vegas Review Journal, increasing mortgage rates and decreasing home sales are causing the trend. Eli Segall, a real estate reporter for the Las Vegas Review Journal, joins CBS News' Jamie Yuccas to discuss.
Mortgage rates dropped for the second week in a row, but that didn't revive demand for potential homeowners. Danielle Hale, chief economist for Realtor.com, joined CBS News' Tanya Rivero and Elaine Quijano to discuss.
With "more supply and somewhat less demand, the housing market is rebalancing," said one analyst.
Price of a previously occupied house hits new heights even as would-be buyers struggle with high prices and mortgage rates.
Nationally, some housing markets are even seeing home prices starting to drop.
Borrowing costs for a typical home loan surged a day after the Federal Reserve hiked its benchmark rate.
Interest on a standard 30-year home loan is 5.23%, up from less than 3% a year ago, according to Freddie Mac.
Across America, the cost of rent is on the rise. Five cities saw average increases of over $1,000 per month from 2021 to 2022. Rent.com Senior Managing Editor Brian Carberry joins "CBS News Mornings" to explain what's driving up costs and what renters can do to save money.
Rising interest rates are affecting nearly every aspect of the U.S. economy and the mortgage refinancing boom of 2021 seems to be the latest casualty. Axios markets correspondent Matt Phillips joined CBS News' Anne-Marie Green and Vladimir Duthiers to talk more about the end of that boom and how it might impact the housing market.
With the Federal Reserve introducing the steepest interest rate increase since 2000, prospective home owners are struggling to adjust. U.S. housing prices are up nearly 40% since March 2019, forcing many Americans out of their communities. Mark Strassmann has more.
Economist Mark Zandi says now isn't the best time to buy a home, with most housing markets showing signs of overheating.
A food pantry, located in an area of Nashville where developers keep scooping up properties, was forced to close.
Average interest rates on a 30-year fixed mortgage are nearly 2 percentage points higher than a year ago.
Millions of customers in several states were in the dark as Helene moved inland from the Big Bend area of Florida's Gulf Coast.
Hezbollah senior commanders were the target of the strikes, according to a senior Israeli official, who said it was too early to confirm if the group's leader, Hassan Nasrallah, had been killed.
During a visit to the U.S.-Mexico border, Vice President Kamala Harris said she intends to keep President Biden's asylum crackdown in place.
British actress Dame Maggie Smith had an extensive career in theater and movies, gaining international acclaim in later roles in "Harry Potter" and "Downton Abbey."
Here are the rules of the CBS News vice presidential debate between JD Vance and Tim Walz.
Authorities have successfully airlifted over 50 people stranded by fast-moving flood waters from the roof of a hospital in Erwin, in eastern Tennessee.
The record comes in a season in which the White Sox had multiple double-digit losing streaks and fired manager Pedro Grifol.
Indicted NYC Mayor Eric Adams pleaded not guilty to federal bribery and campaign finance charges at his arraignment Friday.
Former President Donald Trump met with Ukrainian President Volodymyr Zelenskyy at Trump Tower in New York on Friday morning.
Bill Pyles' Halloween display in Oxford, Ohio, often resulted in a steady stream of hate mail from angry neighbors.
Maj. Michael Stockin, an Army physician accused by more than 40 patients of sexual misconduct, has reached a plea deal with prosecutors, his attorney says.
Bigger bins and premium-priced seating with added legroom are just some of the changes the carrier is betting will win over customers.
Authorities have successfully airlifted over 50 people stranded by fast-moving flood waters from the roof of a hospital in Erwin, in eastern Tennessee.
Rising Florida home insurance rates, which surged 45% from 2017 to 2022, are likely to keep climbing along with the mercury, experts say.
Bigger bins and premium-priced seating with added legroom are just some of the changes the carrier is betting will win over customers.
Rising Florida home insurance rates, which surged 45% from 2017 to 2022, are likely to keep climbing along with the mercury, experts say.
Loophole in law means potentially deadly furniture is still being sold by major retailers, advocacy group cautions.
Grocery costs barely rose last month, according to Friday's report, and energy costs dropped 0.8%, led by cheaper gasoline.
A government task force is ready to help minimize supply-chain disruptions in case of a prolonged East Coast port strike, Biden administration says
Despite suspending his campaign, the independent presidential candidate was fighting to have his name restored to the state's ballot.
Here are the rules of the CBS News vice presidential debate between JD Vance and Tim Walz.
Grocery costs barely rose last month, according to Friday's report, and energy costs dropped 0.8%, led by cheaper gasoline.
Indicted NYC Mayor Eric Adams pleaded not guilty to federal bribery and campaign finance charges at his arraignment Friday.
"I don't think we know who's going to win Michigan yet," Rep. Debbie Dingell told chief Washington correspondent Major Garrett on "The Takeout" podcast.
Loophole in law means potentially deadly furniture is still being sold by major retailers, advocacy group cautions.
Officials claim the changes "had no bearing" on Boar's Head's now-shuttered plant.
Many Americans are unaware of the connection between drinking and cancer risk, despite growing research that points to the negative health impacts of alcohol.
Gov. Gavin Newsom signs law prompted by a decade-long CBS News California investigation into California's newborn genetic biobank.
Ten deaths have been linked to now-recalled Boar's Head products.
The Viking burial ground, used during the 9th and 10th centuries, was discovered on the southern outskirts of the village of Åsum.
Hezbollah senior commanders were the target of the strikes, according to a senior Israeli official, who said it was too early to confirm if the group's leader, Hassan Nasrallah, had been killed.
There are no coastal watches or warnings in effect for either storm however, the waves from Issac could cause life-threatening surf and rip current conditions in the Azores
In October 2022, Phoebe Plummer and Anna Holland threw two cans of Heinz tomato soup over the artwork at London's National Gallery.
Enrique Ariza was convicted of "persecution, harassment" and other crimes against Claudia Julieta Duque, the prosecutor's office said.
In this preview of an interview to be broadcast on "CBS Sunday Morning" September 29, correspondent Anthony Mason talks with Chris Martin and Jonny Buckland of the rock band Coldplay about their massively-successful world tour.
A simple cocktail recipe, from the author of the New York Times bestseller, "Barefoot Contessa at Home."
U.K. regulators found "serious misconduct" by Naomi Campbell's Fashion for Relief charity, disqualifying her from running a charity in Britain for five years.
British actress Dame Maggie Smith had an extensive career in theater and movies, gaining international acclaim in later roles in "Harry Potter" and "Downton Abbey."
Tony Dokoupil and Adriana Diaz co-host "CBS Mornings Plus," airing weekdays on CBS-owned stations in Los Angeles, Chicago, San Francisco, Detroit and Miami, and streaming on CBS News 24/7.
Top U.S. artificial intelligence startup OpenAI took a hit Thursday after three of its top executives exited the company. The departures come as CEO Sam Altman is reportedly preparing to turn OpenAI into a traditional for-profit company. Connie Guglielmo, senior vice president focused on AI edit strategy for CNET, joins CBS News to examine the future of the startup.
Super Micro Computer's stock price fell sharply after the Wall Street Journal reported the company faces a federal investigation.
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.
Meta AI will talk to you in the voice of a handful of celebrities, Mark Zuckerberg announced today.
CBS News found the song has been used in more than 4,500 TikTok videos alone, with some users believing it's a song released by Bieber.
The Viking burial ground, used during the 9th and 10th centuries, was discovered on the southern outskirts of the village of Åsum.
Nine years after it was negotiated, the Paris Climate Agreement continues to serve as a blueprint for global environmental goals. Todd Stern, the top U.S. negotiator for the deal, outlines the years-long process it took to reach the landmark agreement in his new book, "Landing the Paris Climate Agreement: How It Happened, Why It Matters and What Comes Next." Stern joins CBS News to look back at the talks.
Florida is bracing for the wrath of Hurricane Helene. A common question that scientists face during natural disasters like this is: Has climate change impacted their severity? CBS News Miami investigative reporter Jim Defede and CBS News Texas investigative reporter Brian New break down how lawmakers and residents in their states view climate change amid natural disasters.
Three houses have collapsed into the ocean in Rodanthe, North Carolina, in less than a week — and they're likely not the last. Here's why.
President Biden touted his administration's climate progress at the United Nations General Assembly on Tuesday. But in California, lawmakers have often been ahead of the federal government's climate policy, although they are not always aligned. CBS News California investigative correspondent Julie Watts has more.
Maj. Michael Stockin, an Army physician accused by more than 40 patients of sexual misconduct, has reached a plea deal with prosecutors, his attorney says.
New York City Mayor Eric Adams appeared in court Friday and pleaded not guilty to federal charges against him. CBS News' Nikki Battiste was in court while the Adams' arraignment took place.
New York City Mayor Eric Adams was arraigned Friday, a day after a federal indictment outlined alleged crimes Adams carried out involving a foreign government. CBS News' Nikki Battiste was in court.
Enrique Ariza was convicted of "persecution, harassment" and other crimes against Claudia Julieta Duque, the prosecutor's office said.
New York City Mayor Eric Adams is set to be arraigned Friday on federal charges that include bribery, conspiracy and campaign finance charges. CBS News' Anna Schecter reports.
A NASA astronaut and a Russian cosmonaut will join the Starliner astronauts for a normal tour of duty
The Soyuz landing in Kazakhstan sets the stage for launch of a SpaceX Crew Dragon flight to the space station Thursday.
For the next two months, Earth will have a "mini-moon" when a small asteroid temporarily orbits the planet. Scientists say the asteroid, which is only 33 feet long, will enter Earth's gravity in a horseshoe orbit September 29 before leaving on November 25. Most people won't get a glimpse of this mini-moon though, it's too small to see without professional equipment.
The asteroid was discovered in August and is set to become a mini-moon, spinning around Earth in a horseshoe shape for about two months.
NASA's "Hidden Figures," whose work helped put men on the moon, were honored Wednesday in a Congressional Gold Medal ceremony.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The Yankees, Guardians, Phillies and Dodgers punched their tickets to the post season in their respective leagues while two wild card spots remain up for grabs heading into the final weekend of the regular season. CBS Sports MLB writer Matt Snyder breaks it all down.
British actress Maggie Smith, known for her roles in "Harry Potter," "Downton Abbey" and more, has died at the age of 89. CBS News foreign correspondent Ramy Innocencio looks back on her decades-long career.
Friday marks one year since the end of the 148-day Writers Guild of America strike that impacted more than 11,000 union members. The Ankler staff writer Elaine Low joins to discuss the strike's impact and how writers are faring in the time since.
A report by the Commonwealth Fund ranked the U.S. last for health system performance, despite spending more on its health care than peer nations. The ranking was based on access, outcomes, administrative efficiency, equity and the care process. Commonwealth Fund executive Reginald D. Williams II joins CBS News to unpack the findings.
The Department of Justice charged three Iranian operatives for allegedly targeting members of former President Donald Trump's presidential campaign, according to a newly unsealed indictment. CBS News national security contributor Sam Vinograd joins to discuss the latest.