A record number of U.S. homes are now worth $1 million or more
Many million-dollar properties are no longer considered luxury homes, with almost 1 in 10 U.S. houses costing at least that.
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Many million-dollar properties are no longer considered luxury homes, with almost 1 in 10 U.S. houses costing at least that.
Many so-called zombie mortgages date back to the 2008 financial crisis, and consumer advocates warn a new wave of zombies could be on the horizon — this time, from all the home equity credit lines taken out during the pandemic.
The Biden administration wants a new law that would cap annual rent increases at no more than 5% — or landlords would lose a major tax break.
One reason is that renters are priced out of homeownership, while fewer homes are for sale.
According to an analysis from Bankrate, the better option is to rent for the majority of people.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
The rent is high not just in Detroit, where, according to nonprofit Higher Ground Abodes, the city has just a quarter of the affordable homes needed, but also across the state.
In a lawsuit filed this week in federal court, UWM and its CEO are accused of pressuring brokers to send their clients to UWM which in turn pushed homebuyers into expensive mortgages.
The annual income needed to afford even a basic home in the U.S. has risen sharply since the pandemic, a new report shows.
Michigan law states that cities cannot assess homes at more than 50% of their market value.
It will be enforced this fall, and sellers who fail to get a HERD report will face a $500 fine.
The White House is proposing a "mortgage relief credit" that would give homebuyers an annual tax credit of $5,000 for two years.
It's worth politely asking your agent to lower their commission fee. More than half of those who do so are successful.
Friedman Real Estate purchased the Renaissance Center Towers in downtown Detroit for $15 million.
Mortgage rates recently hit their highest levels in more than two decades, pricing many out of the market. Here's what to expect in 2024.
According to Redfin, roughly 6% of home sales resulted in a loss to the seller, and that number has doubled since last year.
Americans flocked to suburban areas during the pandemic — one of several reasons why rent increases there have outpaced urban areas.
Kenny Parcell, the trade group's president, steps down after a New York Times report alleged he sexually harassed multiple women.
There are several reasons why it's taking longer for millennials to buy property, one of which is they're being outbid by boomers.
A decade ago, a typical newly built home cost $60,000 more than an older property. Now existing homes can cost just as much.
A Detroit rapper and TikTok star hopes to revitalize the neighborhood he grew up in with his "Buy the Block" campaign. After months of work, he's made his first purchases.
The surge in real estate prices, coupled with rising mortgage rates, has made buying a home prohibitively expensive in most larger cities.
A little-known surcharge set to change on May 1 could impact consumers in different ways.
With all-cash offers, there's less chance of a sale falling through and usually a faster closing.
The gap between renting an owning is the largest it's been in more than 15 years, an industry analysis found.
A federal grand jury refused to indict six Democrats who drew President Trump's ire by taping a video telling members of the military that they must reject "illegal orders," three sources told CBS News.
The GameAbove Sports Bowl, which is hosted annually by Ford Field, will be canceled ahead of the 2026 season, the venue announced on Tuesday.
Residents and business owners in St. Clair Shores, Michigan, near 11 Mile Road and Little Mack, experienced a rare weather phenomenon on Tuesday
Out of the top 20 snowiest months on record, six were January and eight of them were February.
Michigan Governor Gretchen Whitmer and Ontario Premier Doug Ford say they expect the bridge to still open on time.
Michigan Governor Gretchen Whitmer and Ontario Premier Doug Ford say they expect the bridge to still open on time.
Residents and business owners in St. Clair Shores, Michigan, near 11 Mile Road and Little Mack, experienced a rare weather phenomenon on Tuesday
A judge on Tuesday ordered four people to stand trial more than a year after a hyperbaric chamber explosion in Troy, Michigan, killed a 5-year-old boy.
The Detroit Tigers announced Tuesday that they signed Justin Verlander, a 42-year-old free agent, to a one-year, $13 million deal.
A federal grand jury refused to indict six Democrats who drew President Trump's ire by taping a video telling members of the military that they must reject "illegal orders," three sources told CBS News.
Union Vice President Laura Dickerson confirmed that the worker, TJ Sabula, "has no discipline on his record."
Some General Motors employees are taken aback by this year's profit-sharing checks, with it being $4,000 less than the previous one.
While many assume a "harsh" winter, or this bone-chilling, sustained cold, is the enemy of asphalt, the real culprit is temperature fluctuation.
In Metro Detroit, drivers are paying about $2.90 per gallon, which is 2 cents less than last week and 29 cents less than at the same time last year.
The winter storm that brought snow to Southeast Michigan on Sunday didn't stop car enthusiasts from leaving their homes for the final day of the 2026 Detroit Auto Show.
For the first time, a major U.S. automaker is putting a team up against the European giants of Formula One. Can Cadillac be a contender?
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Bad Bunny took the stage at halftime for the 2026 Super Bowl. Here's who else performed at Super Bowl 60.
Lead singer and frontman Dee Snider said he suffers from degenerative arthritis and has had several surgeries over the years.
Michigan Governor Gretchen Whitmer and Ontario Premier Doug Ford say they expect the bridge to still open on time.
FBI Director Kash Patel posted videos of a person outside the home of Nancy Guthrie, the mother of Savannah Guthrie, on the morning of her disappearance.
The Trump administration has filed lawsuits against 24 states in an effort to obtain their voter rolls.
A fight broke out between the Detroit Pistons and Charlotte Hornets in the third quarter of Monday night's game, and four players were ejected.
Cade Cunningham had 33 points and nine rebounds, and the Detroit Pistons hung on to beat Charlotte 110-104 on Monday night, snapping the Hornets' nine-game winning streak in a wild game that included a fight and four player ejections.
Officials announced eligibility for mothers and babies in the city of Detroit.
Two Metro Detroit representatives are among those sponsoring a bill that calls for a 32% tax on any wireless device purchased for someone age 17 and younger.
The Oakland Community Health Network will now be taking over that responsibility amidst a financial dispute between the two organizations.
Legionella testing at Oakland County government facilities has detected the bacteria in the water systems of two additional buildings.
When the temperatures plummet, and the snow starts piling up, most of us have the same instinct: retreat indoors, crank up the heat, and get cozy.
The GameAbove Sports Bowl, which is hosted annually by Ford Field, will be canceled ahead of the 2026 season, the venue announced on Tuesday.
The Detroit Tigers announced Tuesday that they signed Justin Verlander, a 42-year-old free agent, to a one-year, $13 million deal.
A fight broke out between the Detroit Pistons and Charlotte Hornets in the third quarter of Monday night's game, and four players were ejected.
Cade Cunningham had 33 points and nine rebounds, and the Detroit Pistons hung on to beat Charlotte 110-104 on Monday night, snapping the Hornets' nine-game winning streak in a wild game that included a fight and four player ejections.
Tracy Scroggins, who had 60 1/2 sacks in 10 seasons as a playmaking defensive end for the Detroit Lions, has died. He was 56.
The roundtable discusses the impact of the high-profile game for advertisers, including Detroit-based Rocket and Redfin.
Could a new entertainment tax and a new sales tax be ahead for the Motor City?
As the 2026 Detroit Auto Show wraps up Sunday, the roundtable discusses the signature event and standout moments from the past two weeks.
Penske and Reuss address a wide range of critical issues for Detroit, Michigan and the nation.
Huntington Place CEO Bryan Crowe and his team have been preparing to welcome hundreds of thousands of visitors to the Detroit Auto Show this week.
A suspected frost quake near St. Clair Shores damaged the tile floor of a 7-Eleven store.
A statewide ban on student use of cell phones during K-12 class time has been approved, with Gov. Gretchen Whitmer signing the legislation Tuesday in Lansing.
FBI Director Kash Patel posted videos of a person outside the home of Nancy Guthrie, the mother of Savannah Guthrie, on the morning of her disappearance.
The conversation surrounding President Trump's threats to block the Gordie Howe International Bridge from opening continues to generate reactions from Canadian and U.S. politicians alike.
The assault happened around 4:30 a.m. Tuesday at a Sunoco gas station on Joy Road near Greenfield Road. Detroit police say a man had parked his Jeep Compass at the gas station, went inside the building, and found someone inside his vehicle when he went back outside.