It never ceases to amaze me that people cannot accept the fact that residential real estate property can actually decline in price. Sure, a lot of first-time buyers now are in their thirties which means that during our last crash which occurred around 2006 to 2008, they may have been just 15 years old. So, …
S. Korea’s New COVID-19 Cases Soar to 4-month High of Over 180,000 SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s new COVID-19 cases jumped to a four-month high on Wednesday following the extended weekend amid the continued spread of a highly contagious omicron subvariant. The country added 180,803 new COVID-19 infections, including 567 cases from …
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A more than $125 billion institutional short position has been building up against the U.S. stock market, driven by hedge funds, according to BNP Paribas. Futures contract data points to a sharp increase in the amount of bets against the S&P 500 index SPX, -1.29% in recent months, even though the stock-market gauge has climbed …
Continue reading “Hedge funds pile up $125 billion bet against the S&P 500’s big summer rally”
German Producer Prices Post Highest Increase on Record Germany’s producer prices rose strongly in July, driven by higher energy prices, posting the biggest increase ever recorded, the German statistics office Destatis said. Producer prices rose 37.2% on year in July, the German statistics office Destatis said Friday. This follows a 32.7% increase in June and …
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“We should continue to move quickly towards a level of key rates that will exert significant downward pressure on inflation,” said the chairman of the Federal Reserve of St. Louis. A US central bank (Fed) official said on Thursday that another sharp rate hike seems necessary at the September meeting, as inflation is still very …
(Reuters) -The recent easing of U.S. financial conditions, including a surge in stock prices, may have been based on an overly optimistic sense that inflation was peaking and the pace of interest rate increases was likely to slow, Kansas City Federal Reserve President Esther George said on Thursday. In comments to a Kansas City …
Continue reading “Rate hikes to stop when inflation on way down – Fed’s George”
The housing cycle—which began its upward climb in 2011—has officially turned over. Simply put: We’ve moved into a housing recession. Homebuilders broke ground on 982,000 single-family homes in June. That’s down 19% since February, and down 16% from the same month in 2021. While it’s hardly a “blow out,” it’s clear builders are cutting back. …
This ASSHOLE 9 months ago was calling inflation temporary. Now he is talking about “tapping” the breaks…. Try brace yourself for anti lock break deployment as the economy goes through the guard rail and off a cliff……. listen for yourself!! Federal Reserve Bank of Minneapolis President Neel Kashkari stated on Thursday that the central bank’s …
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Sales of previously owned homes in the United States fell by 5.9% in July against the prior month, as more buyers shied away from increasing mortgage rates and soaring prices. According to data from the National Association of Realtors, total existing home sales sagged for the sixth straight month to a seasonally adjusted annual rate …
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(Bloomberg) — President Joe Biden won temporary permission to once again pause energy leasing on federal lands and waters, after a US appeals court found a trial judge’s order against the moratorium too vague to review. The court on Wednesday threw out the judge’s nationwide injunction forcing a restart of leasing from the Gulf of …