Research by Alto Solutions, Inc., a self-directed IRA provider, claims 53% of millennial investors aren’t confident they will ever be able to afford retirement. And 76% worry that a market crash could erase their savings.
Read MoreThe Council of Economic Advisers reported that skyrocketing rents were responsible for 40% of the Consumer Price Index increase in May. At least 35% of people in the U.S. live in rented housing.
Read MoreThe Indian hotel proptech is pushing back plans for a public launch due to volatile market conditions. Oyo had previously fired thousands of employees at the start of the Covid-19 pandemic.
Read MoreLast week, the real estate listing giant said it would display the risk of a home being damaged in a wildfire over the next thirty years in its listings. The data comes from the First Street Foundation as well as the U.S. Forest Service.
Read MoreIn the fall of 2021, the Seattle-based proptech abandoned its home-flipping blitz and laid off 2,000 employees. It’s now ramping up for another moonshot project: building a super app for real estate.
Read MoreFor the first time in 11 years, mortgage rates reached 5% this week. The rate has increased by 1.24 percentage points in the past five week, and 1.89 as compared to the end of 2021.
Read MoreIn a letter to Wells Fargo, the New York City government said it won’t open new Wells Fargo depository accounts. It follows accusations that the bank discriminates against Black homeowners.
Read MoreThe PAVE report could drastically change how homes are bought and sold in the U.S. and address a long history of discrimination against minority homeowners—especially if PAVE’s recommendations are codified into law. That’s a big if when Congress has a hard time agreeing on, well, almost anything.
Read MoreThe Bilt Mastercard lets renters earn rewards on rent payments, and use rewards points for down payments. For the first time, tenants can also pay rent through credit cards without transaction fees.
Read MoreAn interagency panel, the Property Appraisal and Valuation Equity task force, released a plan for addressing discrimination in the appraisal industry. The group first convened last summer.
Read MoreValereum, a Gibraltar-based holding company, announced that it is buying 90% of the Gibraltar Stock Exchange (GSX). Valereum looks to create the world’s first integrated fiat and digital exchange.
Read MoreOn Saturday, Vancouver-based TerraZero completed a “metabase mortgage” transaction with a client buying virtual real estate. The “land” purchased was in Ethereum-based metaverse Decentraland.
Read MoreMilo is launching what it calls the world’s full-fledged “crypto-mortgage” service, which lets customers purchase real estate in the U.S. through bitcoin.
Read MoreBetter.com, a New York-based digital mortgage lender, is laying off roughly 9% of its 10,000 staff ahead of its public launch.
Read MoreDigital real estate company Zillow is pulling the plug on its digital home-flipping operation called Zillow Offers, a unit which caused the company to lose more than $380M, according to a third-quarter earnings report.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
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