Why You May Not Want to Turn Your Summer Home Into an Academic Rental

U.S. buyers won’t be seeing relief in home prices anytime soon, according to a Reuters survey. Prices will rise relatively modestly this year and in 2025 despite tight supply and expected interest rate cuts, according to housing analysts polled by Reuters. Forecasts for house prices have barely changed since the previous survey three months ago, despite more aggressive expectations in financial markets for interest rate cuts, suggesting this upswing will be more subdued than in the recent past. Reuters

A home with an outer shell resembling a shark is a unique new listing in Brisbane, Australia. The home, which doesn’t have a disclosed price guide, was a finalist for Queensland’s house of the year and has been listed for sale by Place Estate Agents New Farm. Enormous concrete folds—shaped like shark’s gills—fan off the exterior and the ceiling has been crafted to reflect waves. Domain

The average 30-year mortgage rate fell for the second consecutive week to 6.35%, its lowest level since May 2023. Last year this time, the mortgage rate averaged 7.18%, according to Freddie Mac. While this is good news for home buyers, there’s a chance that rates won’t continue to fall, as the expected Fed rate cut in September is already priced in. AP

Tech entrepreneur Alfonso Cobo, the co-founder of Unfold and Hypelist, is selling his Manhattan loft for $6.99 million. Located in Tribeca, the home has been gut renovated and has 21-foot ceilings, double-height arched windows and light oak floors. It’s currently configured as a one-bedroom, but it could be converted back to its original three-bedroom, three-bathroom layout. Cobo bought the apartment in 2022 for $4.6 million. New York Post