U.S. new-home construction fell in May after an April reading that was stronger than initially reported, signaling stabilization in the market amid lower borrowing costs.

Residential starts dropped 0.9% to a 1.27 million annualized rate after a revised 1.28 million pace in the prior month, according to government figures released Tuesday that compared with a 1.24 million estimate in Bloomberg’s survey. Permits, a proxy for future construction, increased 0.3% to a 1.29 million rate that was about in line with estimates.

For years, Samsung has pitched customers internet-connected TVs, refrigerators, and other cornerstones of the home re-imagined for the data-overload era. Now the South Korean engineering-to-gadgets conglomerate is trying to go a step further: making the home itself.

Inside an airy, lavish model house in Seoul, Samsung’s virtual assistant, Bixby, can show visitors what’s inside the kitchen fridge while Amazon’s Alexa assistant controls the living-room lighting and A/C, and a speaker developed by Naver Corp. recommends music and TV shows. Samsung software overlays the in-house and competing products to create a unified control system, and so the company might someday be able to analyze the data created to refine its so-called internet of things.

It took less than a month to sell half the units in a Sao Paulo luxury apartment building earlier this year, even though construction won’t be complete until 2022. And one brokerage that specializes in high-end real estate saw its revenue double in the first four months of this year.

The luxury residential-property market in Brazil’s biggest city is booming with demand from rich Brazilians, fed up with the toll record low interest rates are taking on their portfolios. Gone are the days of double-digit returns on simple treasury securities, so many of the rich are trying to capitalize on soaring prices in the high-end real estate market.

U.S. new-home construction rose for a second month and topped estimates in April in a sign of positive momentum for the housing sector at the start of the second quarter.

Residential starts increased 5.7% to a 1.24 million annualized rate after a 1.7% gain in March that was previously reported as a drop, according to government figures released Thursday. Permits, a proxy for future construction, advanced 0.6% to a 1.30 million rate.
You've reached your free article limit.

After three New York City construction workers died on the job within six days, officials are demanding stronger safety measures and promising punitive action against those responsible.

Strata is located in the popular East Village neighborhood of San Diego. The apartment complex consists of two connected towers built over one large below grade parking structure. One tower stands at six stories tall, the other reaches 23 stories.

Strata was constructed multiple stories below the water table in extreme close proximity to a former gas station and dry cleaners, according to Michael Hyduk of Specified Products, Inc., - and product representative for EPRO Services, Inc, who are developers of redundant, field-installed composite systems for below waterproofing and contaminant barrier solutions.

For homebuilders, financing a real estate transaction, oftentimes via an institutional lender, is common place in the industry. But what is land banking and why should it be considered by homebuilders?

Land banking is an off-balance sheet financing structure whereby the land banker purchases fee title to the homebuilder’s desired lots – instead of the homebuilder. Simultaneously, the homebuilder enters into an option agreement with the land banker wherein the homebuilder obtains an option to purchase the desired lots from the land banker. Such option is generally secured by a non-refundable option fee paid by the homebuilder to the land banker.

Homebuilder stocks may be poised to keep rallying, with investor optimism about lower interest rates likely priming them to overlook any possible disappointments in KB Home and Lennar Corp. earnings, JPMorgan’s Michael Rehaut wrote in a note.

A lower 10-year Treasury yield “heals all wounds,” Rehaut said.

Sentiment among U.S. homebuilders climbed to a six-month high in April, another indication that the housing market is gathering momentum during the crucial spring season.

The National Association of Home Builders/Wells Fargo Housing Market Index rose 1 point to 63, matching the median estimate in Bloomberg’s survey of economists, on improvements in present sales and buyer traffic, data released Tuesday showed. Readings over 50 indicate more builders view conditions as good than poor.

Thanks to the new buildings and infrastructure that began construction in 2018, regional residents and visitors should soon be able to get around a lot easier in the New York and New Jersey region and enjoy a host of new living spaces and entertainment options.

Finally, a New York City neighborhood has landed a coveted spot on Bloomberg’s annual ranking of America’s richest zip codes. And no, it’s not Billionaires’ Row where residences have sold for more than $100 million.

Instead, Tribeca -- a neighborhood in downtown Manhattan near the World Trade Center -- is making noise.