Business

Douglas Elliman real estate broker Noble Black highlights the contributing factors that is causing a spike in New York City luxury home sales and whether return-to-office plays a role. More luxury homebuyers are paying with cash to acquire properties this year, a report from Coldwell Banker Real Estate revealed. The company said in its "2025 Mid-Year Report" that more than half of over 200 surveyed Coldwell Banker luxury property specialists reported an uptick in wealthy buyers purchasing homes with cash. Roughly 34.1% said there has been a "slight increase" while 16.6% said there has been a "significant" rise in that method.  To help boost themselves into homeownership, some buyers are turning to the banks of mom and dad to help with co-signings, down payments or entire prope...

ResiClub co-founder and editor-in-chief Lance Lambert addresses mounting concerns about the housing market on 'Making Money.' Housing inventory in a significant number of major metropolitan areas hit levels higher than they were before the COVID-19 pandemic, according to a new report from Realtor.com.  The real estate marketplace said nearly half of America’s 50 largest metros had real estate markets whose number of active listings as of May had surpassed pre-pandemic levels.The ten metro areas that had the largest jumps in active inventory from their averages in 2017-2019 all posted double-digit percentage increases, according to Realtor.com. HOUSING CRISIS DEEPENS AS 47 MAJOR METRO AREAS NOW REQUIRE HOMEBUYERS TO SPEND MORE THAN 30% OF INCOME Eight states had representation among...

The state pension age may have to increase by eight years, a think tank has warned the government, unless the current state pension system is significantly changed.The Institute for Fiscal Studies has this week released a new report, The Pensions Review: Final Recommendations, in which it sets out urgent advice for the government for now and in the near-future.In it, the think tank warns that the state pension age will need to rise to 69 by 2048 and all the way up to 74 by 2068 unless measures are taken to cut spending on state pensions, such as abolishing the triple lock. The IFS says the issue is caused by several factors, including increased life expectancy. Currently, the state pension age is 66 for both men and women, though it's due to rise to 67 in 2026.The IFS report says: “The...

Celebrity real estate agent Taylor Middleton, who is starring in Netflix's new series "Selling the City," told Fox News Digital how it felt to leave her "small-town" Tennessee life behind for the fast-paced world of Manhattan. "The X-Files" star David Duchovny has officially closed the file on his luxurious Malibu retreat. Tucked behind a private gate, the meticulously designed property sold for the hefty price tag of $10,979,100.The three-bedroom main residence features an eye-catching restored train caboose-turned guest retreat on the sprawling property. The Malibu mansion property is 3,577 square-feet, not including the train car or flex structure.  ‘HOME ALONE’ AND ‘CROCODILE DUNDEE’ PENTHOUSES SELLING FOR $70M "X-Files" star David Duchovny's Malibu mansion sells for nearl...

Sir Keir Starmer is preparing to resist mounting calls from Labour MPs for new taxes on the super-rich, amid warnings they could do lasting damage to the economy.The Prime Minister’s director of policy delivery, Liz Lloyd, is understood to have raised alarm bells in No.10 about the impact of scrapping non-dom status – a move that is claimed to have triggered the departure of wealthy individuals from the UK looking to dodge resulting taxes.This week’s reversal of welfare reforms has left Chancellor Rachel Reeves with a £5 billion hole in the public finances. But despite growing pressure from the Labour left to slap a 2% levy on assets over £10 million – a measure they claim would raise £24 billion – Sir Keir is said to be leaning against raids on wealth.A debate appears to have broken ou...

Entrepreneur and social media tycoon Ben Soffer reacts to NYC mayoral candidate Zohran Mamdani's victory, what it means for the Jewish community and how he became a social media personality. Concerns over antisemitism continue to grow in New York City, as some residents say they’re beginning to question whether the nation’s largest city is a safe place for them. One social media star says Zohran Mamdani’s victory in the Democratic mayoral primary only escalated those fears in the Jewish community.  "We're very afraid," said Ben Soffer, a social media influencer and entrepreneur. "I've never, ever thought that I would need to leave because I was afraid to be openly Jewish here."Soffer, who has lived in New York City his entire life, said he considered moving over rising antisemitism...

Something broke in Reeves last week. The country saw it. She sat slumped in the Commons, tears streaming, while PM Keir Starmer stared straight ahead. Next day, Reeves was wheeled out, caked in makeup and frozen in a rictus grin, still clearly traumatised and humiliated. And that was before she was forced to publicly hug her boss.The UK's destiny was written on her face. The government is crumbling, the party’s in revolt, the public finances are in meltdown. And the only tool Reeves has left will make everything worse. Trust me, this is just the start. The real disaster is now about to unfold.The Chancellor can’t borrow more. She can’t spend more. She’s boxed herself in with “non-negotiable” fiscal rules. She has just one move left. Raise taxes.That will enrage voters all over again – a...

People born after April 1960 face a delay in getting their State Pension due to an age rule change that will take effect next year.The Department for Work and Pensions (DWP) has confirmed the State Pension age is rising from 2026, with the change to be gradually phased in over the course of a year. Currently, both men and women can claim the State Pension once they turn 66 but from next year the age will rise to 67. The current State Pension age was implemented between December 2018 and October 2020, having increased from 65, and now a further hike will take effect between 2026 and 2028.The age rise to 67 will be implemented in phases and will affect when people born between April 6, 1960, and March 5, 1961, can claim their State Pension. As people born between these dates fall into the...

Martin Lewis is urging savers to put £1 into a Lifetime ISA (LISA) right now to bag a bonus payment of up to £1,000 per year.A LISA is a savings account that can be opened by anyone aged between 18 and 39, and can be used to save towards either a first home or for retirement. Up to £4,000 can be put into the tax-free account every year until you reach 50, but you must make your first payment into the account before you’re 40. The government will then add a 25% bonus to your savings, up to a maximum of £1,000 per year. Plus, you’ll also earn interest on any money you save and that interest is tax-free.In a post on X (formerly Twitter) on Friday, July 4, Martin Lewis urged anyone who falls within the eligible age group to open a LISA now and to put £1 into the account “as soon as possible...

Martin Lewis’ MoneySavingExpert (MSE) website has urged households in England to check if they could be owed up to £2,000 in compensation from their water company. The website explained that many people may be entitled to payouts for poor service, including supply disruption, low water pressure or sewer flooding.The biggest payouts will go to those affected by serious issues like flooding, with households able to claim as much as £2,000. People who have been dealing with low water pressure for a long time could get up to £250. Payments will be automatically credited to customers’ water accounts and come as part of the first rise in compensation levels in 25 years, according to the Department for Environment, Food and Rural Affairs (Defra).From October 2025, the government will also expa...