Tag: Alarm

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Real estate fraud risk is on the rise, and victims are sounding the alarm

Real estate fraud risk is on the rise, and victims are sounding the alarm

DeBianchi Real Estate President and realtor Sam DeBianchi gives advice to millennials who are struggling to buy homes on Making Money.

Purchasing a home is an exciting milestone in a person’s life, but criminals are increasingly exploiting such transactions through real estate fraud, robbing victims who are often left with little or no recourse.

CertifID’s 2024 State of Wire Fraud report released Tuesday found that 1 in 20 Americans who bought or sold a home within the past three years have been victims of some type of real estate fraud, with the median amount in consumer losses exceeding $70,000 as a result of stolen buyer’s down payments and seller’s net proceeds.

Real estate wire fraud is surging, and victims are calling for awareness and recourse as cybercriminals become increasingly cunning. (Justin Sullivan/Getty Images / Getty Images)

The wire fraud protection company warns fraudsters have become increasingly skilled at leveraging public

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Blackstone’s Wien Rings Alarm on Stocks, Real Estate, Banks, Recession

Blackstone’s Wien Rings Alarm on Stocks, Real Estate, Banks, Recession
  • Stocks, real estate, banks, and the economy may be in danger, Byron Wien has warned.
  • Earnings weakness could tank the S&P 500 by 10% or 20%, the Blackstone executive said.
  • Wien sees a risk of recession, and higher rates hitting commercial real estate and bank lending.

Stocks, real estate, banks, and the wider US economy are all flashing warning signs, one of Wall Street’s leading strategists says.

“Everything that I’m looking at makes me think that there is trouble ahead,” Byron Wien, the vice chairman of Blackstone’s private wealth solutions arm, said during a recent Rosenberg Research webcast. “And if I’m right about that, then the market is dangerous.”

Wien, who spent 21 years as Morgan Stanley’s top US investment strategist, is known for his

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