Real estate

Democratic senators including Banking Chair Sherrod Brown and Elizabeth Warren want to restrict tax breaks for large corporate investors that buy local homes and often drive up costs.

But scarce housing inventory has helped to bring home equity values back upward, offsetting some of the losses of late 2022.

However, much of the damage could already be priced into the stocks after this latest selloff, analysts said.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

But a monthly increase in housing costs nationwide to start 2023 may point to a bottoming out of prices in many areas, CoreLogic said.

The deal would put housing data provided by the acquiring intelligence provider in front of lenders early in the mortgage borrowing process.

The publishing company controlled by the Murdoch family had been in talks to sell the parent of Realtor.com and other real estate-related websites for about $3 billion. 

The cut occurred across departments and included the dismissal of the company's head of mortgage.

New York, Chicago and Philadelphia led the list of large metropolitan markets considered vulnerable to a downturn, based on analysis from Attom.

A group of House lawmakers on both sides of the aisle is pushing to expand the Low-Income Housing Tax Credit as the supply of affordable housing remains tight.