By Christopher Anstey (Bloomberg) — Former Treasury Secretary Lawrence Summers said that “transitory factors” have been one element in a faster slowdown in US inflation than he anticipated. “Given how strong the economy has been, there’s still a surprise in what’s happened to inflation,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. That […]
By David Abel From a distance, the new skyscraper looks like any other generic glass tower looming over downtown Boston. But it’s the bowels of the building — in its curtains of glass, in its thickly insulated walls, and in its specially designed ventilation systems — that make it distinct from the others. The $1.4 […]
By Jon Chesto Revs fans are going to have to wait longer for a shot at their goal: a soccer stadium in the heart of Greater Boston. Legislation that would have paved the way for a New England Revolution stadium to go up along the Mystic River in Everett was sidelined when state House and […]
By Konrad Putzier Foreclosures are surging in an opaque and risky corner of commercial real-estate finance, offering one of the starkest signs yet that turmoil in the property market is worsening. Lenders this year have issued a record number of foreclosure notices for high-risk property loans, according to a Wall Street Journal analysis. Many of these […]
By Justin Lahart Inflation has been cooling, and a big part of why is that rent increases have as well. That is also why inflation is likely to keep going lower in the months ahead. Tuesday’s inflation report from the Labor Department showed that overall consumer prices were up 3.2% from a year earlier in October, while […]
By Alice Atkins and Sujata Rao-Coverley The Federal Reserve will cut interest rates by 275 basis points next year, nearly four times more than what markets are pricing, strategists at UBS Investment Bank predict. A continued decline in inflation will enable the central bank to start easing policy as soon as March, with rates likely to be cut in the large increments […]
By Thomas Lee When OpenAI debuted its ChatGPT bot earlier this year, the startup attracted enormous attention and launched a wave of interest in artificial intelligence. But Google,which has long led the way in rolling out new technologies to support its search business, was caught flat-footed.Now, as the tech giant celebrates its 25th anniversary amid […]
By Augusta Saraiva The average 30-year mortgage rate plunged last week by the most in more than a year, helping generate the biggest advance in home purchase applications since early June. The contract rate on a 30-year fixed mortgage slid 25 basis points to 7.61%, the lowest level since the end of September, according to the Mortgage Bankers […]
By Boston Real Estate Times Boston – ABG Realty spearheaded the acquisition of 323 Commonwealth Ave in Boston, representing buyer John Manganaro. This 8,481 SF property is set to undergo a remarkable transformation, being reimagined into two luxury condo units. During the sale, Ryan Taylor of Fortune RE represented the seller. Stephanie Deering, Vice President […]
By Michael Sasso Renters in some of the fastest-growing US cities are finally getting some relief after a few years of dizzying increases as developers roll out droves of new apartments. The Boise City, Idaho metro area has seen rents drop 6.2% over the past year after the local supply of apartments increased by about 1,600 […]
