Real Estate Tech News


Calpers’ Bet on Sacramento’s Planned Tallest Tower Splits Board

Calpers’ Bet on Sacramento’s Planned Tallest Tower Splits Board

Sacramento officials are cheering a decision by the California Public Employees’ Retirement System to build what would be the tallest tower in its hometown. But some inside Calpers’ boardroom are concerned the 550-foot project represents too much risk.
Realogy, PHH Corporation to pay $17M to settle kickback suit

Realogy, PHH Corporation to pay $17M to settle kickback suit

Brokerage conglomerate Realogy and mortgage provider PHH Corporation will pay $17 million to settle a class action lawsuit alleging a years-long kickback scheme. The settlement, recently approved by a California judge, stems from a 2015 lawsuit that accused Realogy and PHH of funneling title insurance business to Title Insurance Group, a Realogy subsidiary.
The $1 billion price cut: Luxury real estate gets slashed

The $1 billion price cut: Luxury real estate gets slashed

The most expensive real-estate in America just became a little less expensive — with $1 billion in price cuts among America's top listings over the past few months, according to a CNBC analysis. The high-end real-estate market has seen steep price cuts in recent months as foreign buyers dry up,
“Every day is a fire drill”: Construction startup Katerra struggles to stay on track as it scales up

“Every day is a fire drill”: Construction startup Katerra struggles to stay on track as it scales up

Construction startup Katerra — valued at $3 billion following an $865 million funding round in January including SoftBank — is struggling with delays and quality control as the company tries to scale up. Many in the real estate industry are paying close attention to the three-year-old company, which aims to cut costs by streamlining the construction supply chain.
New home sales fall to 9-month low

New home sales fall to 9-month low

Sales of new U.S. single-family homes unexpectedly fell in July to a nine-month low in a sign the housing market was cooling and could give less support to the overall economy. The Commerce Department said on Thursday new home sales decreased 1.7 percent to a seasonally adjusted annual rate of 627,000 units last month, the lowest level since October 2017.
Zillow acquires Mortgage Lenders of America, posts $325M in Q2 revenue, up 22%

Zillow acquires Mortgage Lenders of America, posts $325M in Q2 revenue, up 22%

Zillow Group is acquiring Mortgage Lenders of America in its quest to own more of the home buying process. The Seattle real estate juggernaut announced the acquisition with its second-quarter earnings report Monday.
Icahn Will Sell Tropicana Casinos in $1.85 Billion Deal

Icahn Will Sell Tropicana Casinos in $1.85 Billion Deal

Eldorado Resorts Inc. and real-estate company Gaming and Leisure Properties Inc. are teaming up to buy Carl Icahn’s casino operator, Tropicana Entertainment Inc., for $1.85 billion in cash, adding to a wave of consolidation in the gambling industry.
Zillow Group will start buying and selling homes, taking on Opendoor and expanding real estate footprint

Zillow Group will start buying and selling homes, taking on Opendoor and expanding real estate footprint

Zillow Group will start buying and selling homes for the first time later this month, expanding its real estate business and creating new competition for real estate agents and companies like Opendoor and OfferPad.
Berlin tops the world as city with the fastest rising property prices

Berlin tops the world as city with the fastest rising property prices

Berlin has emerged as the frothiest property market in the world, with the city engulfed by expensive highrise developments and speculative buying that threatens its traditionally low rents and hip arts scene.
Toronto Luxury Home Sales Plunge 46% From Last Year’s High

Toronto Luxury Home Sales Plunge 46% From Last Year’s High

The high-end of Toronto’s housing market is bearing the brunt of declines from last year’s dizzying growth, with prices falling and unit sales slumping by almost half. Sales of detached homes in and around Canada’s biggest city fell 46 percent in March from the same month a year ago,


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