Chinese investors are snatching up houses across America, with top metro areas becoming their preferred spot. New York and Los Angeles top the list of cities they are most interested in, but more surprisingly, Detroit and Philadelphia also ranked in the top 10.
Buyers from mainland China today can account for as many as half of the buyers at certain buildings in "Falasheng" and surrounding neighborhoods, brokers say. A few years ago there were virtually none.
“Nearly every part of the real estate process has been transformed by technology except for home financing. Getting a mortgage is still manual, frustrating and confusing,” said Nick Stamos, CEO and founder of Sindeo..
Legacy insurers are headed toward solid ground, with some experiencing their first full year of profitability since the housing crash. New entrants, meanwhile, are raising capital, entering the fray and gaining market share. Read More
First, I’m not suggesting totally yanking FICO or Vantage Scores or anything like that. What I am recommending is the adoption of other models that would equally, or even more effectively, determine who can repay a loan. Read More