Independent thinking for complex markets and current events
The federal deficit is expected to nearly double this year, from about $1 trillion last year to $2 trillion for the fiscal year ending Sept. 30 Why it matters: There’s no precedent for deficits this large, as a share of the economy — outside war, deep recession or pandemic. The WashPost’s Jeff Stein reported Sunday on the stunning projected figure from the …
Property taxes, insurance, and general home upkeep are not included and for many are more than the mortgage itself. And those costs absolutely increase over time. h/t TonyLiberty
45% of student loan borrowers expect to go delinquent when payments resume on October 1st. That's not good. pic.twitter.com/YOgF4udx67 — Joe Consorti (@JoeConsorti) August 28, 2023 Rent moratorium over ✅️Real rates at 15-yr highs ✅️Student loan moratorium over 🔜 Discretionary spending is circling the drain. Can someone say deflation risk? — Joe Consorti (@JoeConsorti) August …
by BrutalBodyShots Many of us give the [sound] advice of “always pay your CC statement balance in full monthly” as it’s the right approach for financial health. Those new to credit cards get confused by the difference between the statement balance and the “minimum payment” required. That’s exactly what the credit card companies want, as …
The monthly mortgage payment based on a median existing home is now at a record $2,322/month. This is double the $1,200 peak seen in 2008. Keep in mind, $2,322/month does not include taxes, insurance or any other costs associated with buying a home. If you add in taxes and insurance, the median is nearly $3,000/month. …
by DesmondMilesDant I know Q1 = -0.4%, Q2 = -0.3%. But they have literally changed the definition of recession. We need three consecutive -ve prints. Not 2.
If Republicans are actually serious about overthrowing President Joe Biden in the 2024 general election, perhaps they should spend less time bickering among themselves and spend more time paying attention to the octogenarian-in-chief himself, because he’s doing a bang-up job writing the GOP sales pitch for them. While some may (rightfully) feel that both Joe …
by betsharks0 > In September 2022, adjustable-rate mortgages (ARMs) made up around 9% of all new home loan applications to lenders, according to the Mortgage Bankers Association (MBA) So are these people basically f***ed? The median house payment in the US is now at $2,605/month. This is up 19% compared to 2022 and the most expense median …
by Hephaestus4 Japan is selling U.S. treasuries and buy back Yen to defend its currency. This is not good for the U.S. as we go into a “doom loop”. Rates will continue to rise on the long end of the curve, which makes borrowing costs go up…which means more borrowing to keep this BS game …
Let’s see what happens. Muammar Gaddafi and Saddam Hussein didn’t fare too well when they bucked the system. Maybe this is the underlying reason for World War 3. BRICS payment system will replace SWIFT in new ‘non-Western world’ – AFROCOM head The continent will be part of a multipolar world with completely new economic relations, …
Zillow has gone full-blown housing bull. Zillow expects U.S. home prices to rise 6.3% between June 2023 and June 2024. Among the 200 largest housing markets, Zillow thinks 48 markets will see a jump of 7.0% or greater pic.twitter.com/ibsa0ivR3V — Lance Lambert (@NewsLambert) July 28, 2023
via techcrunch: Amazon’s palm-scanning payment technology known as Amazon One is prepared to make a significant expansion across the U.S. The retailer announced this morning the payment tech will come to all 500+ Amazon-owned Whole Foods Market stores nationwide by year-end. The biometric payment system works by having the customer hover their palm above a …
He makes an interesting observation that the reparation committee clearly overlooked. h/t Rev El Haitian
“Hey, have you heard the latest from China? They’re going all-in on the cashless life! Tencent Holdings, the social media powerhouse, has just launched a super cool payment service for Beijing metro riders. And get this – you can pay for your ride with just your palm! No cash, no card, no problem. It’s all …
Poor baby. I paid my student loans, you pay yours. I’m not inclined to pay mine and then pay your too. h/t Mitchisboss
Leanne Kearey’s payments have risen from £1,120 to £1,600 a month. A homeowner has revealed her mortgage has gone up by £480 in the last month after interest rates hit a new 15-year high. Mum-of-one Leanne Kearey, 33, described her new monthly house payment as “horrific” following the Bank of England’s decision to raise interest …
THIRTY San Francisco hotels could stop paying loan payments as city struggles with spiking crime, rampant homelessness and brazen drug use News of Park Hotels & Resorts’ plan to surrender ownership of two of San Francisco’s largest hotels is the beginning of what could potentially become a mass exodus of hotels from the city as …
by scott_jr Welp .. another crack in the commercial real estate industry that’s only going to get worse in the near future. Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE:PK) today announced that, starting in June, it ceased making payments toward the $725 million non-recourse CMBS loan which is scheduled to mature in …