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Meet The Times’s Real Estate Editor, Who Wants to ‘Expand the Readership’ – The New York Times

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Nikita Stewart, who became the editor of the Real Estate desk in January, shares how she is steering the section into the future.

Times Insider explains who we are and what we do and delivers behind-the-scenes insights into how our journalism comes together.

For Sunday readers of The New York Times, the Real Estate section is a sweet slice of escape, a treat to be enjoyed leisurely over a cup of coffee. Often readers find sanctuary in its pages, perusing photos of tree-lined Brooklyn blocks, brick townhouses and sprawling (envy-inducing) grassy lawns attached to even more sprawling (and even more envy-inducing) Hamptons homes.

But the section offers much more than eye candy, Nikita Stewart, Real Estate’s editor, says. Ms. Stewart joined The Times in 2014, first as a Metro reporter covering City Hall and the social services beat before becoming an assistant editor on that desk; she took over Real Estate in late January. Ms. Stewart, who during the pandemic moved to New Jersey from New York City (“It was the access to outdoor space — but I kind of went kicking and screaming”), wants the section to explore what and who makes a community; to share with readers how many bedrooms a property might have, but also the history and cultural relevance of the neighborhood it is in.

In an interview, Ms. Stewart shared how the section is evolving and expanding. Her responses have been edited.

In what ways would you say your previous beat reporting inspired or informed your vision for Real Estate?

I believe strongly, not just as a journalist, but as just a human being, that everyone deserves to live in New York City if they want to. It’s a beautiful and amazing place and it has to make room — for everyone. One of the things that I always want to make sure we’re looking at in Real Estate — and we don’t always get it right — is when we’re writing about a new development, we have to question what was here before.

This section is not just about properties, it’s really a convergence of culture, community, business and human interest. What makes a well-rounded real estate story?

I want readers to broaden their perspective of what real estate is and means. Real estate is more than bricks-and-mortar buildings. It’s the people who are in the buildings. It’s what you surround yourself with in your home, outside, the coffee shop that you go to, the garden that you build on your stoop or put on your patio. I want readers, particularly on Sundays, to be transported: Either you’ll find aspiration, inspiration or reflection. I want some surprise.

We had great success with a story about Harlem Toile de Jouy, which is wallpaper. Lots of readers were like, “I never knew I wanted to know that much about wallpaper,” because it’s more than wallpaper. I’m trying to make readers understand that the objects that you put in your home are of value; they don’t have to be expensive to be of value to you, and I want to make sure that we are getting that across to readers.

In columns like The Hunt, is it difficult to get people to divulge their home-buying journeys and their budgets?

I have learned since taking the Real Estate editor job that The Hunt can be quite difficult. We are asking the hunters to divulge a lot of personal information.

I think people who participate in The Hunt think it’s a worthwhile feature each week. There’s nothing like putting yourself in the person’s shoes and wondering what they’re going to pick. I’ve had plenty of friends who — although that is their favorite feature of the week — send me text messages all the time saying “they picked the wrong house!”

Real Estate traditionally focuses on the New York metropolitan area. Are there efforts to expand?

We’ve already widened our coverage to California, and I hope readers will be pleasantly surprised. I’m not going to reveal too much yet, but we are expanding to the South. I’ll leave it like that — make it a little mysterious.

Do you have any tips or tricks about the home buying process?

I don’t have any tips or tricks because I did all of my hunting before I became a Real Estate editor, but now I am ready — 2023, here I come! I’m planning on moving. I don’t know where yet, but all of these Real Estate stories from our wonderful writers are going to inform me.

How do you see The Times’s Real Estate section evolving?

I’m hoping to expand the readership. We have some loyal readers, and I certainly want to continue to give them the stories that they love. But like I said, I’m really hoping to surprise readers, which will draw readers who haven’t traditionally turned to the New York Times Real Estate section. I believe strongly in digital storytelling, visual storytelling and storytelling that is accessible to people on their phones. As much as the New York Times Real Estate print section is iconic, and there is a place for it in New York culture, I think it’s important for us to meet readers where they are. I want to make what you see on your phone spectacular, breathtaking, stunning and immersive. Readers are going to be blown away.

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Mortgage rule changes will help spark demand, but supply is ‘core’ issue: economist

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TORONTO – One expert predicts Ottawa‘s changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the “core issues” facing the market.

The federal government’s changes, set to come into force mid-December, include a higher price cap for insured mortgages to allow more people to qualify for a mortgage with less than a 20 per cent down payment.

The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.

CIBC Capital Markets deputy chief economist Benjamin Tal calls it a “significant” move likely to accelerate the recovery of the housing market, a process already underway as interest rates have begun to fall.

However, he says in a note that policymakers should aim to “prevent that from becoming too much of a good thing” through policies geared toward the supply side.

Tal says the main issue is the lack of supply available to respond to Canada’s rapidly increasing population, particularly in major cities.

This report by The Canadian Press was first published Sept. 17,2024.

The Canadian Press. All rights reserved.

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National housing market in ‘holding pattern’ as buyers patient for lower rates: CREA

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OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.

The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.

On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.

CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”

The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.

The number of newly listed properties was up 1.1 per cent month-over-month.

This report by The Canadian Press was first published Sept. 16, 2024.

The Canadian Press. All rights reserved.

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Two Quebec real estate brokers suspended for using fake bids to drive up prices

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MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.

Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.

Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.

She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.

The two brokers were suspended in May 2023 after La Presse published an article about their practices.

One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.

This report by The Canadian Press was first published Sept. 11, 2024.

The Canadian Press. All rights reserved.

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