Real Estate

  Bloomberg CBRE Group Inc. and Jones Lang LaSalle Inc., real estate services firms that do a significant share of their business in the U.K., tumbled as investors speculated on a possible fall-off in property sales and leases after Britons voted to leave the European Union. CBRE, the world’s largest commercial-property brokerage, dropped 9 percent to $27.31 in New York, ...

  TIMES NEWS SERVICE Britain’s vote to leave the European Union may be causing turmoil in the capitals of Europe and in world stock markets. But it could actually benefit the real estate market in Boston. Here’s how: Housing Mortgage rates — already quite low — could stay down. The reason? Uncertainty about the economy and the stock market drives ...

  Washington / AP Long-term U.S. mortgage rates rose this week but remain at levels low enough to boost home sales in the spring buying season. Mortgage buyer Freddie Mac says the average 30-year fixed-rate mortgage edged up to 3.56% from a 52-week low of 3.54% last week. The rate is down from 4.02% a year ago. The average rate on ...

  Tribune News Service Andhra Pradesh will take the help of two Singapore companies to build Amaravati as a “world-class capital”, chief minister N. Chandrababu Naidu said, providing clarity on development plans eight months after the foundation for the new capital was laid. The state cabinet, at a meeting on Friday, gave its nod to develop the capital with help ...

  Bloomberg U.S. home prices rose 5.9 percent in April from a year earlier as job growth spurred competition for a limited number of listings. Prices climbed 0.2 percent on a seasonally adjusted basis from March, the Federal Housing Finance Agency said in a report on from Washington. The average estimate of 20 economists was for a 0.6 percent gain, ...

  Bloomberg Merlin Properties Socimi SA and Metrovacesa SA agreed to combine their commercial and residential property businesses, creating Spain’s largest real estate investment trust. Merlin shares rose the most in five months. Merlin will pay €1.7 billion ($1.9 billion) in stock to the banks that own Metrovacesa and get a controlling stake in the combined firms’ commercial-property portfolio, issuing ...

  Bloomberg A popular narrative of the U.S. housing market has been that big city prices are locking out young buyers, feeding a cycle in which a growing number of people are forced to rent at ever higher rates as demand overwhelms supply. Throw in the fact that wages haven’t kept pace, and you have a world where a wide ...

  Bloomberg London home builders are counting on a weaker pound to tempt buyers back into the city’s beleaguered luxury-homes market if the U.K. votes to leave the European Union. “We have seen a lot of overseas interest and they are waiting until the result,” said Rob Perrins, chief executive officer of Berkeley Group Holdings Plc. “When you have got ...

  Bloomberg Lennar Corp., the second-largest U.S. homebuilder, reported fiscal second-quarter earnings that beat analysts’ estimates as the improving job market helped boost sales. Net income for the three months through May was $218.5 million, or 95 cents a share, compared with $183 million, or 79 cents, a year earlier, the Miami-based company said in a statement on Tuesday. The ...

  Bloomberg The Federal Reserve warned that prices in the commercial real-estate market may have run up too far too fast. Valuations in commercial real estate “appear increasingly vulnerable to negative shocks, as CRE prices have continued to outpace rental income,” the Fed said in its semiannual Monetary Policy Report to Congress. The Fed noted that prices exceed their pre-crisis ...