Gen X stands to gain the most wealth from the $84 trillion wealth transfer

Generation X may be the biggest beneficiary from the $84 trillion Great Wealth Transfer in the next 10 years, according to a new study. While millennials and members of Generation Z are expecting the biggest inheritances in the coming years as baby boomers pass down their fortunes, Gen Xers will likely get the largest windfalls in the near term. According to […]

The UAE is set to be the No. 1 ‘wealth magnet’ in the world, new report shows

The United Arab Emirates is set to be the world’s leading wealth magnet for the third year in a row. That’s according to new research by Henley Private Wealth Migration Report. The tiny Gulf nation is expected to see an unprecedented net inflow of 6,700 millionaires from around the world by the end of 2024, according […]

Billionaires Timothy Mellon and Mike Bloomberg inject massive sums into 2024 super PACs

Wealthy businessman Timothy Mellon and former New York Mayor Michael Bloomberg wrote huge, eight-figure checks in July to support major Republican and Democratic super PACs, respectively, gearing up for the 2024 election. Mellon, who donated $50 million in May to Make America Great Again Inc., the super PAC that supports former President Donald Trump’s presidential bid, doubled down last month with […]

Wealthy millennials and Gen Z are redefining philanthropy

Wealthy millennials and Gen Zers are redefining the world of charitable giving, seeing themselves more as activists than donors, according to a new study. Wealthy donors under the age of 43 are more likely to volunteer, fundraise and act as mentors for charitable causes rather than just give money, according to a new survey from […]

Homebuyer mortgage demand drops further, a troubling sign for the spring market

Homebuyers are seeing very little reason to get a jump on the all-important spring housing market, even with more listings coming up for sale. Mortgage rates haven’t moved much in the last few weeks, and home prices continue to rise. Mortgage applications to purchase a home last week dropped 4%, compared with the previous week, […]

Mortgage demand drops further, even as interest rates settle

Mortgage rates didn’t move last week, but demand for new home loans continued to weaken. Both homebuyers and current homeowners are hampered by today’s higher interest rates. Total mortgage application volume decreased 2% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.    The average contract interest rate for 30-year fixed-rate […]

Pending home sales drop sharply in December as mortgage rates surge back over 7%

Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors. The drop followed four straight months of gains and the index was at its lowest level since August. These so-called pending sales are an indicator of […]

New tariffs could raise home prices and sideline potential buyers

The U.S. housing market was already struggling under the weight of high mortgage interest rates, a low supply of existing homes for sale and historically high home prices. Now tariffs on building materials are adding even more pressure. About 30% of softwood lumber consumed in the U.S. is imported, largely from Canada. Wallboard, known as gypsum, is […]

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