Housing on the rise
Home prices are recovering for the first time in six years, thanks to property demand and the Federal Reserve’s efforts to push mortgage rates to record lows. Homebuilder shares have almost doubled over the past 12 months. Mortgage rates are currently around 3.4 percent for 30 years, 2.625 percent for 15 years and 2.125 percent for 5-year adjustable rate mortgages.
Buying their way into the UK
The UK made it easier this year for foreigners with over £1 million to invest in the country to obtain long-term settlement visas. Wealthy Russians and Chinese, who consider London as a gateway for European business, took the bait accounting for an 74 percent increase in visas issued. Sweetening the deal was that £250,000 of the £1 million can be an investment in property.
Groupon CEO under the gun
Daily deals company Groupon is scratching its head over lousy growth prospects. 32-year-old CEO and co-founder Andrew Mason, known for being quirky and irreverent, suffered scrutiny at a recent board meeting for everything from hairy accounting practices to a declining stock price, which some argue has finally corrected itself from $26 to $4.