What $1 Million can get you in Real Estate Around the World
Your Future Home hosts Baker Machado and Brad Smith discuss some of the biggest news in the real estate market...including the top market for luxury real estate!
U.S. mortgage rates have hit their highest level since 2014 after the ninth consecutive week of increases. The rate for a 30-year fixed rate mortgage rose to 4.46%. At the start of the year, the average rate was 3.95%. Rising rates have already made some current homeowners less likely to move, which is leading to a lack of affordable housing in the market.
Plus, when it comes to luxury real estate, a million dollars doesn't buy what it used to. The London based brokerage firm Knight Bridge measured the top markets around the globe by how much property you could buy for one million dollars. According to the so-called "wealth report" Monaco took top honors for high-end real estate. One million dollars there will get you about 172 square feet...the size of a respectable walk-in closet.
Jann Wenner, who co-founded Rolling Stone magazine and also was a co-founder of the Rock & Roll Hall of Fame, has been removed from the hall's board of directors after making comments that were seen as disparaging toward Black and female musicians. He apologized within hours.
Three British news organizations reported Saturday that comedian and social influencer Russell Brand has been accused of rape, sexual assault and abuse based on allegations from four women who knew him over a seven-year period at the height of his fame.
