Independent thinking for complex markets and current events
Teens Skip $50 Jeans in Squeeze of Gas, Job Shortage July 2 (Bloomberg) — The financial pressures of adults are finally catching up with American teenagers. Since summer jobs dried up, gasoline prices topped $4 a gallon and parents ran out of spare cash, teens have had to cool it on spending for clothes. “I’ve …
by confoundedinterest17 Housing in the US is simply unaffordable. Particularly since home prices and mortgage rates have soared under Biden. .Owning a house is less affordable for average earners in the US than at anytime in 17 years. The costs of a typical home — including mortgage payments, property insurance and taxes — consumed 35.1% of the …
Investors are now selling at a loss in Florida’s Housing Market, with the Zillow Value estimates on some listings collapsing as much as 30%. Indeed, the seasonally-adjusted estimate of new houses for sale at the end of May was 481,000, marking the highest level since January 2008. This surge in inventory is a result of rising …
A prominent insurance provider has aired an ultimatum to the entire state of California. The firm, State Farm General, asked the state’s Department of Insurance Thursday to let them raise residential insurance rates for millions of citizens, or see them move out. The move indicates financial trouble for the insurance giant, which currently covers homes …
Supply is starting to build, which is leading to the cooling in prices. Total active listings are now 35% higher than they were at this time a year ago, according to Realtor.com. To put that in perspective, however, even after the recent growth, inventory is still down more than 30% from typical pre-pandemic levels. “Some …
Supply chain disruptions. Congested ports. Delivery delays. Soaring shipping prices. All of this seemed like a distant memory from the peak of the COVID-19 pandemic, but it’s happening again, and conditions are far scarier this time around. The head of ocean freight of the Americas at Rhenus Logistics, Stephanie Loomis, who spends her days negotiating …
#WATCH: Canadian woman says she paid $220 for 3 bags of groceries. pic.twitter.com/sqEGDTuxHs — 6ixBuzzTV (@6ixbuzztv) June 25, 2024 View post on imgur.com h/t dr0id
Gold prices could skyrocket to $3,000 per ounce within the next 12 to 18 months, according to Bank of America’s latest analysis. Michael Widmer, a commodity strategist at the bank, suggests that a combination of factors — increasing investment demand, geopolitical tensions, Federal Reserve rate cuts and central bank purchases — could boost the yellow metal’s appeal …
by confoundedinterest17 In politics, it is usually discussed whether you are better off today than 4 years ago. Well, not if you are a renter or need to buy a home with mortgage financing. If you are a homeowner, you are better off in terms of home equty. With the Case-Shiller National home price index …
Austin, Texas: Expected to see the steepest drop in home prices, with a 12.2% decline anticipated. Redding, CA: Predicted to experience a 7.30% growth in home prices. Santa Maria-Santa Barbara, CA: Anticipated growth of 6.81%. Bremerton-Silverdale, WA: Expected to see a 6.51% increase. Coeur d’Alene, ID: Predicted growth of 6.49%. Fairbanks, AK: Anticipated growth of 6.38% Boulder, CO: Expected to see a 6.36% increase in …
Result of industrial overcapacity in one picture, btw, not only for cars. Coming to cinema near you. pic.twitter.com/b40it8jOPb — Michael A. Arouet (@MichaelAArouet) June 23, 2024
In the calculation of the Consumer Price Index (CPI), housing plays a significant role. However, the Bureau of Labor Statistics (BLS) does not directly include house prices in the CPI market basket. Instead, they focus on measuring changes in the cost of shelter for renters and homeowners. Here’s how it works: Rental Properties: For rental …
Pulled this from this video: https://www.youtube.com/watch?v=JuZRhbUroHA Essentially the existing v. new home market has never been this inverted, and typically it will always revert back to its mean. There’s a million variables at play, but I imagine it would be like a used car costing much more than a new car, it’s just real estate is …
In a surprising twist, car prices are experiencing a dramatic shift. After years of seemingly endless climbs, prices are now plummeting at an alarming rate. Here are some key points: New Vehicle Prices: Industry analysts report that the average price of a new vehicle has dropped by nearly 20% year-over-year. This decline is a welcome …
This is the most unaffordable US housing market Home prices, adjusted for inflation, are much higher than even the peak of the pre-Financial Crisis period To put this into perspective: Median home prices had reached $350,000 in 2006 Today, it is just shy of $400,000 pic.twitter.com/9EqDrYGSmF — Bravos Research (@bravosresearch) June 17, 2024 Housing is …
by mmofrki I’ve heard that unemployment is severely down but that’s due to most people needing to work upwards of three jobs just to scrape by. It’s scary how unsustainable it is. Especially given how unaffordable Healthcare is in the US, now imagine exhausted, sleep deprived people having heart attacks or other cardiovascular issues due …
Top 10 “impossibly unaffordable” cities Hong Kong Sydney Vancouver San Jose Los Angeles Honolulu Melbourne San Francisco/Adelaide San Diego Toronto For those who can’t wait for a change in policy or for demand to fall, the report also identifies the most affordable cities of the 94 surveyed worldwide. They are Pittsburgh, Rochester, NY and St …
California’s $20 minimum wage led to fast food price hikes, lower foot traffic, study shows. In the six-month period leading up to the new law being enacted, fast food prices in California rose on average by 7% — forcing franchisees in the state to slash work hours, postpone capital improvements and expedite the deployment of …
California Democrats are planning to send the state’s astronomical gasoline prices soaring even higher by strengthening a pair of decade-old climate policies. The California Air Resources Board (CARB), whose most senior members are appointed by Governor Gavin Newsom, is considering amending two regulations — the Low Carbon Fuel Standard (LCFS) and the cap-and-trade program — …
High Volume of Recent Sales: Since 2000, a large proportion of residential property sales in China have taken place in recent years: 56% of all sales occurred after 2015. 38% of all sales occurred after 2018. Falling Property Prices: Second-hand property prices have fallen back to their 2018 levels. Potential Negative Equity: Due to the …
Home prices will fall this summer as owners cave to selling pressure, according to Redfin’s CEO. The real estate brokerage is anticipating a 1% price drop by the end of the year. Homes in Florida and Texas are already beginning to see “major price cuts,” the firm said. House prices will drop this summer as homeowners …
via Mike Shedlock Common sense returns to Virginia as California Governor Gavin Newsom Struggles to defend inane policy. Let’s start with Newsom and gasoline prices. In a Wall Street Journal Op-Ed, Newsom says “What people pay at the pump isn’t simple supply and demand but the result of a highly concentrated and opaque market.“ Here are the …
The over-7% mortgage rates seem to have become a fixture in the housing market. The average conforming 30-year fixed mortgage rate edged up to 7.07% in the latest week, and has now been above 7% since early April, according to the Mortgage Bankers Association today. During Rate-Cut-Mania, the average mortgage rate had dropped to 6.76% …
The same retailers that have helped to push consumer prices up by 20% over the past four years are getting desperate as shoppers aggressively tighten their spending to cope with stubborn inflation. Some of the biggest retail chains in America are on a price-cutting spree to gain back their customers now that sales are declining …
Story Summary Build-to-rent communities have taken off as more Americans find themselves unable to afford a down payment on a home. An estimated 97,000 residential homes built to rent were completed in 2023, up 45% from the year prior. Build-to-rent remains relatively niche, making up an estimated 7.9% of all single-family housing starts in 2023. …
The demand for diamonds has declined as its allure fades in a key consumer market: China. “Diamonds don’t really fit in anymore despite the strong legacy of De Beers under Anglo,” said independent diamond industry analyst Paul Zimnisky. Diamond prices have fallen 5.7% so far this year, according to Zimnisky’s rough diamond index, declining more …
Condo owners in parts of California are slashing asking prices by as much as 40 percent for their properties listed for sale on Zillow, according to data available on the real estate marketplace app. As of Wednesday morning, there were a total of 8,476 condos listed for sale on Zillow across all of California. Of …
Home prices are dropping thanks to high mortgage rates weighing on demand. The 30-year fixed mortgage rate edged up last week, hovering above 7%. Real estate experts expect affordability to slowly improve as inventory rises and borrowing costs ease. Home prices are falling at the fastest pace in over a year, thanks to demand plunging …
by confoundedinterest17 Call it Washington DC soullessness. Back in 2023, Socialist Paul Krugman declared that “the war on inflation is over!!! “We” won, at very little cost.” I love when elitists claim “We won!” since clearly 99% of Americans lost since food, housing and car prices up are double digits under Biden. The problem is that food, …
