In response to the ongoing housing crisis and recent rent increases for rent-stabilized housing, tenants, activists, and elected officials are urging the city council to pass a package of laws aimed at improving access to permanent affordable housing. One of these laws would specifically benefit Cathy Mercado, a resident of East Brooklyn, by helping her … Read more
The number of mortgages for the acquisition of housing experienced a significant decline in April, dropping by 18.3% compared to the previous year. According to data published by the National Statistics Institute (INE), only 27,053 loans were granted during this period. The average amount of mortgage loans for purchasing a house was 136,945 euros, which … Read more
New York City’s housing authority, NYCHA, has announced a $1.5 billion investment plan to demolish and rebuild two substandard public housing complexes in Manhattan. The Fulton and Elliot-Chelsea Homes housing complexes have long been in need of improvement, and this plan aims to address the issues faced by the residents. The housing authority, in collaboration … Read more
Home sales in the city have been registering for months an upward trend that has allowed to reactivate notably real estate activity and residential developments. According to the latest official data from the Ministry of Transport, the year 2023 has started with a total of 153 transactions between January and March, a volume that this … Read more
In the last 40 years, The housing market has undergone a great change since in 1981 as a result of the Moncloa Pacts what we know today as the mortgage market was born. At that time, both the official banks and the private banks began to grant mortgages. savings banks of each municipality and the … Read more
The purchase of a home without the need to access a mortgage loan continues to increase due to financial conditions. During the month of April they have signed 42,139 home sales, of which 25,945 were formalized through a mortgage, 61.5% of the totalaccording to the provisional data of the Real Estate Registry Statistics corresponding to … Read more
A judge has allowed him to keep his house and has forgiven a debt of 43,000 euros to a married couple from San Juan de Aznalfarache, thanks to the Second Chance Law. The couple had to take out several loans to get ahead after a time of job insecurity and unemployment, also having two college-age … Read more
Starting June 21, rental unit owners must provide information indicating whether their properties are located in a flood-prone area. They must also specify if said property has been affected in the past by floods. And this as part of a law enacted by Governor Kathy Hochul last year, which seeks to provide tenants with more … Read more
The New York City Council overwhelmingly approved a series of measures to make housing subsidy vouchers accessible to more New Yorkers. This as a way to help those who do not have a home, and at the same time, avoid overcrowding in municipal shelters. One of the pieces of legislation would remove a rule that … Read more
Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 6.39%. “The 30-year fixed-rate mortgage averaged 6.39% this week as it economic headwinds have kept rates within a ten-point range basics over the last few weeks,” said Sam Khater, chief economist at Freddie Mac. “After … Read more