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US developers close to getting their mojo back

Los Angeles: Confidence among US homebuilders remains at its highest level in six years, reflecting improved optimism over the strengthening housing market this year and a pick up in visits by prospective buyers to builders’ communities.

The National Association of Home Builders/Wells Fargo builder sentiment index rose to 41 this


Low rates prod more US homeowners towards refinancing

New York: American homeowners are rushing to refinance mortgages at near-historic low rates, with loan applications staying close to three-year highs.

Traders and loan originators are awaiting more signals from the Federal Reserve - the biggest buyer of wholesale mortgages - which could prompt a big increase in the amount of mortgages available at


Middle East investors show no loss of appetite for overseas picks

Despite signs of recovery in the Dubai real estate market over the past few months, there have been few major transactions. Many Middle Eastern investors remain more focused on overseas real estate rather than investing in their own back yard.

Data collected by Jones Lang LaSalle shows that $96 billion (Dh352 billion) of completed commercial real


Citi official tries to talk down optimism in US housing sector

New York: Citigroup isn’t as enthusiastic as its peers about a comeback in the housing market.

On Friday, executives at Wells Fargo and JPMorgan Chase declared that the long-struggling market had turned a corner. On Monday, Citigroup’s top number-cruncher said he wasn’t so sure. The chief financial officer John Gerspach cautioned that recent his


High networth buyers go the extra mile on securing their homes

Panic rooms, gun safes and machinegun-proof doors are increasingly appearing in London homes as super-rich foreign newcomers bring their security fears to the UK capital.

Many wealthy homebuyers are drawn to the political stability of London and the buoyancy of its property market. But concerns about the kind of lawlessness typical of their home


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