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.
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 »