Until inflation peaks and the Federal Reserve stops hiking rates, market forecaster Jim Bianco warns Wall Street is on a one way trip to misery. “The Fed only has one tool to bring in inflation and that is they have to slow demand,” the Bianco Research president told CNBC “Fast Money” on Tuesday. “We may … Read more
Eye-popping price increases are forcing New Yorkers to cut back on their spending — and even go into debt — amid inflation rates that hit a 40-year high Friday. The latest monthly figures from the US Bureau of Labor Statistics show that the average price of all consumer goods surged 8.6% during the 12 months … Read more
Jake and Stephanie Murphy are moving into a new single-family rental home built by American Homes 4 Rent. Diana Olick | CNBC Real Estate Correspondent As demand for single-family rental homes surges, big landlords are jumping into the homebuilding business to shore up falling supplies. The push comes as more Americans have the flexibility to … Read more
Lifestyle visuals | E+ | Getty Images When interest rates rise, it’s common for some homebuyers to explore whether an adjustable rate mortgage would make sense for them. With an ARM, as it’s called, the appeal is its lower initial interest rate compared with a traditional 30-year fixed-rate mortgage. Yet down the road, that rate … Read more
Houses in Hercules, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. David Paul Morris | Bloomberg | Getty Images Homeowners are in the money, and it just keeps coming. Two years of rapidly rising home prices … Read more
MoMo Productions | Taxi | Getty Images In the last decade, a surge in home prices has built considerable wealth for the middle class. Total housing wealth grew by $8.2 trillion between 2010 and 2020, according to a March report from the National Association of Realtors. The coronavirus pandemic’s housing boom added even more value … Read more
A For Sale sign is displayed in front of a house in Washington, DC. Stefani Reynolds | dpa | Getty Images Sharply higher mortgage rates have caused a sudden pull-back in home sales, and now sellers are rushing to get in before the red-hot market cools off dramatically. The supply of homes for sale jumped … Read more
America’s Finest City may not actually be so spectacular after all — at least according to an annual report of the best cities to live in the US, which placed San Diego pretty close to the bottom this year. US News & World Report analyzed 150 of the most populated metro areas in the country … Read more
A sale pending sign is posted in front of a home for sale on March 18, 2022 in San Anselmo, California. Justin Sullivan | Getty Images Sales of previously owned homes in April fell to the lowest pace since the Covid pandemic started, according to the National Association of Retailers. Existing-home sales declined 2.4% compared … Read more
Over 120 million laboratory rats and mice are used worldwide each year. Many are used to study distressing conditions like cancer, arthritis and chronic pain, and nearly all spend their lives in small, empty box-like cages: a kind of permanent lockdown. Our new analysis shows that this restrictive, artificial housing causes rats and mice to … Read more