Latest Stories

US Housing Starts Fall to Lowest Level Since May 2020

Housing starts in the US fell in October to the lowest level since the onset of the pandemic as data delayed by last fall’s government shutdown showed builders continued to cut back amid still-high prices and mortgage rates.

Zillow’s CEO Is Ready for Another Slow Year of US Homebuying

On his Zillow account, Jeremy Wacksman has “favorited” every home he’s ever lived in, just to keep tabs. Among them: a two-story, 2,500-square-foot house with four bedrooms, 2½ bathrooms and a sprawling front yard in the Cincinnati suburbs where he grew up. “The doors weren’t red when we lived there,” the chief executive officer of Zillow Group Inc. notes, squinting at a “street view” image on his iPhone. In 1997, when Wacksman was in college, his father sold the house for $227,000. These days his company’s proprietary algorithmic valuation, or Zestimate, calculates it’s worth around $700,000.

Opportunity Zones: Will Tax Break for Investors Benefit Communities Too?

The 2017 tax overhaul included incentives to invest in distressed communities. Investors benefit from tax breaks and the designated opportunity zones benefit from economic investment, but critics say already-wealthy investors don’t need these breaks.

EXPLORE BLOOMBERG LAW

Get the latest legal, regulatory, and enforcement news and analysis, as well as in-depth business and industry covering in the following areas: