US consumers, the biggest economic force in the world, are rapidly altering their spending habits and where they get groceries due to persistently high inflation, 19 months of negative real wage growth, and threats of recession.
Inflation rose in October about in line with estimates, sending a sign that price increases at least might be stabilizing, the Commerce Department reported Thursday.
After plunging by the most since COVID lockdowns in September, analysts expected US pending home sales to tumble once again in October and they did, dropping 4.6% MoM (September was revised slightly higher from -10.2% MoM to -8.7% MoM)…
Newsfeed: US Pending Home Sales Plunge To Biggest Annual Drop Ever Read More »
Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead even as he sees progress in the fight against inflation as largely inadequate.
Newsfeed: Fed Chair Powell says smaller interest rate hikes could start in December Read More »
Private hiring slowed sharply during November in a sign that the historically tight labor market could be losing some steam, according to a report Wednesday from payroll processing firm ADP.
After tumbling for the first time since 2012 in July, Case-Shiller’s 20-City Composite Home Price index was expected to drop for the third straight month in September (the latest data available) as mortgage rates soared, crushing affordability; and it did, with the 20-City Composite down 1.24% MoM (as the YoY rise slowed from 13.06% to 10.43%)…
Newsfeed: US Home Prices Declined For 3rd Straight Month In September Read More »
The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In most of the United States, the 2023 CLL value for one-unit properties will be $726,200, an increase of $79,000 from $647,200 in 2022.
Newsfeed: FHFA Announces Conforming Loan Limit Values for 2023 Read More »
Companies with deep resources are outsourcing management to apps and algorithms, putting home ownership further out of reach.
Newsfeed: Robot Landlords Are Buying Up Houses Read More »
After existing home sales tumbled, new home sales were expected to follow suit amid soaring borrowing costs and ever-higher prices (despite building inventories and incentives by homebuilders). They didn’t…
Newsfeed: New Home Sales Unexpectedly Jump In October, Prices Surged To Record Highs Read More »
Homebuyer affordability worsened in October as higher mortgage rates pushed the monthly payment to record highs.
Newsfeed: Housing: Median mortgage payment reaches record high in October Read More »