Atlanta, Georgia based PulteGroup, the home building company announced a strong quarterly report and witnessed its stocks climb, following the news. The company also struck a deal with Paul Singer's Elliott Management.
PulteGroup agreed to add three new directors to its board. Two of the new members will help choose its next CEO when it's current CEO Mr. Dugas leaves.
In June, home sales jumped in most U.S states including Ohio. That continues the trend of recent gains even though the supply pool is limited.
On Thursday, the Ohio Association of Realtors said record gains in home sales were noted in June. Annually, the sales rate was 5.4 percent up compared to the previous year based on seasonally adjusted data. Transactions in the housing market increased almost one percent from May.
Property market experts have said that a large number of residents in the United Arab Emirates (UAE) do not own a property in the country.
The latest data showed that just around 30 per cent of UAE residents have actually purchased a house in the country. This means that a large majority of 70 per cent do not own property and are on rent. Experts say that large property down-payments as well as bank's reluctance to lend money has made it difficult for many residents to purchase house in the country.
According to industry experts, the real estate market in the United Arab Emirates (UAE) has been affected by low prices of oil in the global markets.
The UAE's Energy Minister had maintained that the country was not affected by low oil prices due to its diversified economy. Experts have said that the country is not as immune to the oil prices as it is officially stated. The latest economic data for the month of April shows that the real estate market is facing the impact of low oil prices in the international markets.
Some statistical reports on Monday showed that California's housing crisis is deepening with its sudden growth in population. Last year, the population of California grew to 39.1 million and that's when it hit the housing. The increase of 348,000 people was about one percent.
Last year, there was a drop in the new housing units in California. That happened for the first time after the economic recovery started. The reason behind it was mainly wildfires which burnt two thousand or more homes.
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