A group that owns several well-known Gilded Age Newport mansions has been cited by federal workplace safety inspectors for allegedly exposing workers to lead-based paint and potentially fatal falls, the U.S. Department of Labor’s Occupational Safety and Health Administration announced on Thursday.
The Preservation Society of Newport County was cited for 10 serious violations, which means there is substantial probability that death or serious physical harm could result, OSHA said. The agency proposed $51,840 in fines.
The society’s mansions include The Breakers, The Elms and Marble House, and are among the most visited tourist sites in New England. Read More
Nationwide sales of flipped homes dropped both month-over-month and year-over year in the second quarter of 2014, according to the Q2 2014 U.S. Home Flipping Report released by RealtyTrac on August 22. Read More
In Florida, the median price of homes is increasing and sales of single-family homes have gone up, Florida Realtors reported in its Q2 2014 report released on August 12. However, RealtyTrac's July 2014 U.S. Foreclosure Market Report released on August 14 found that Florida had the highest state foreclosure rate in the nation for the 10th consecutive month despite a 30 percent year-over-year decrease. Read More
The U.S. Department of the Treasury announced on August 14 that it plans to continue selling its shares of common stock in Ally Financial, thus further reducing its investment in the Detroit-based lender. Read More
While the national negative equity rate continues to fall (down to 18.8 percent, according to the Zillow Q1 2014 Negative Equity Report), many neighborhoods in the Tampa Bay area of Florida are well above that rate. Some areas in Tampa Bay even fall within the highest rates in the country. Read More
A recently released study by TransUnion reported that approximately $50 billion to $79 billion in outstanding Home Equity Lines of Credit (HELOC) balances reported at the end of 2013 could be a high risk to default in the next few years. Read More
Experian announced that its latest analysis has uncovered how the addition of rental payment data to credit files can help financially exclude consumers gain access to traditional financial services. Read More
As homeownership keeps slipping among young American adults, real estate analysts expect the makeup of first-time homebuyers could look very different over the next 10 years. Read More