The U.S. Federal Reserve raised interest rates Wednesday by 75 basis points for the fourth straight meeting while hinting at a potential slower pace in the future as the central bank continues to try to tame multi-decade highs in inflation.
Every year, states across the country compete with each other for people and their wealth as millions of Americans move between states. The stakes are large. A growing population for the winners means an increasing tax base, economic growth and investment. For the biggest losers, it means more difficulties in paying down debts, higher taxes and fewer investments for the future.
Some people think housing is a driver of economic growth. But that doesn’t make sense to us. Sure, a robust housing market creates a lot of jobs from construction all the way back through the supply chain. But housing itself is a by-product of prosperity, not a creator of it. After all, who buys a house first … and then …