In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either.
Newsfeed: The Era Of Cheap Oil Has Come To An End Read More »
When an abandoned high school in Homestead, Pennsylvania, was listed for sale in 2019, Jesse Wig saw an opportunity.
The Federal Reserve raised short-term interest rates Wednesday by 0.50%, bringing benchmark interest rates to the highest level since 2007 while suggesting more rate hikes are coming in 2023.
Wholesale prices rose more than expected in November as food prices surged, dampening hopes that inflation could be headed lower, the Labor Department reported Friday.
President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan, a move that would support Beijing’s goal to establish its currency internationally.
Newsfeed: China’s Xi Jinping calls for oil trade in yuan at Gulf summit in Riyadh Read More »
American households lost about $6.8 trillion in wealth over the first three quarters of 2022 as the stock market SPX, +1.43% DJIA, +1.58% COMP, +1.26% shed more than 25% of its value, the Federal Reserve reported Friday in the government’s quarterly financial accounts.
One month after setting a record low level for affordability, the unaffordability of new homes in the U.S. has skyrocketed.
Newsfeed: The Skyrocketing Unaffordability Of The American Dream Read More »
The Federal Reserve hasn’t had much success so far in wrestling down sky-high inflation, but its monetary tightening campaign is having a major impact in deflating asset bubbles that swelled during the pandemic.
Newsfeed: The Federal Reserve Is Deflating Financial Bubbles, Without a Crash Read More »
Lower mortgage rates are pulling some current homeowners back to the refinance market, but not enough to offset the drop in demand from homebuyers.
Newsfeed: Mortgage demand falls again even as rates sink further Read More »
We expect home sales to sink to their lowest level in more than a decade in 2023 as high mortgage rates keep housing costs up and prevent people from moving. High homeowner equity and a resilient job market will stave off a wave of foreclosures.