Bloomberg A group led by US real estate investor Blackstone Group LP, the world’s largest manager of alternative assets, said second-quarter profit rose 2 percent as it earned more from real estate sales and its credit portfolio gained. Economic net income, a measure of earnings that reflects both realized and unrealized investment gains, increased to $520 million, or 44 ...

  DETROIT / AP A two-storey, wood-frame house became the 10,000th vacant building torn down under Detroit Mayor Mike Duggan’s massive plan to eliminate blight as the city continues dealing with abandoned properties following a population decline. An excavator was used to quickly tear down the house on Marlowe Street on Detroit’s northwest side. The demolition of 10,000 buildings is ...

  Bloomberg US home prices rose 5.6 percent in May from a year earlier as buyers competed for a scarcity of listings. Prices climbed 0.2 percent on a seasonally adjusted basis from April, the Federal Housing Finance Agency (FHFA) said in a report from Washington. The average estimate of 18 economists was for a 0.4 percent gain, according to the ...