Close

Todays Economy

Latest Economy News

Should you buy a home in the hottest market ever? Huge gains can’t continue, experts warn

[Bankrate, Getty Images] The U.S. housing market is on an absolute tear. Month after month, prices break new records. Sellers are ecstatic. While buyers can revel in mortgage rates near all-time lows, that’s about the only upside to shopping for property in this market. If you’re considering buying a home now, the soaring prices raise an obvious question: Should […]

This post is only available to members.

Read More

A shock is headed for the housing market

[Fortune, Getty Images] The Biden-Harris administration has made it clear it has no plans for another extension of the mortgage forbearance program, which is set to lapse on Sept. 30. At the height of the pandemic, more than 7.2 million homeowners were in the mortgage forbearance program, which allows some borrowers to pause their payments. […]

This post is only available to members.

Read More

Nearly half of Americans selling their homes don’t plan to buy another: Here’s what they’re doing instead

[Acorns, Twenty/20] It is not surprising sellers are opting to rent, due to the all-time high housing prices. The housing market is red-hot and showing few signs of slowing down. Home prices were at a median $386,888 in June, according to Redfin, up 24% since last June. And demand is high: The average house lasted just 14 days […]

This post is only available to members.

Read More

The wealthy and Wall Street ruined the housing market for everyone else. Millennials aren’t helping, either.

[Business Insider, Getty] Rich Americans, millennials, and Wall Street are keeping US home prices permanently higher.Demand is strong as the wealthy and investors scoop up homes at historically high prices.A wave of millennial demand can boost prices even higher, and builders aren’t rushing to step in.The housing market is stuck between a rock and a […]

This post is only available to members.

Read More

The US economy is never going back to ‘normal’

New York (CNN Business) The US economy has come a long way since last year’s devastating downturn. But a return to “normal” may not be possible. The Back-to-Normal Index created by CNN Business and Moody’s Analytics stands at 93% as of June 18, a new pandemic-era high.  The index is comprised of 37 national and seven state-level indicators […]

This post is only available to members.

Read More

Brace yourself, here’s why inflation could create a ‘giant wealth transfer’ from lenders to borrowers

[MarketWatch, iStock] There’s one group of borrowers that can count themselves as ‘lucky’ during periods of inflation Higher prices for rental cars, airplane tickets and uncooked beef roasts have economists and consumers wondering whether we’re living through the start of an inflationary period.  It remains to be seen whether these price hikes are just a temporary blip resulting from […]

This post is only available to members.

Read More

Inflation is continuing to rise—here’s how it could affect your money

[CNBC, Twenty/20] Last month, the U.S. consumer price index, a survey of a variety of goods, rose 5% compared with a year ago. The gain was a bit more than anticipated and the largest increase since the summer of 2008, according to the Labor Department. That has Wall Street buzzing about what inflation means for markets and the economy. But […]

This post is only available to members.

Read More

From crypto to crude, markets flatline ahead of today’s monumental Fed meeting

[Fortune, Getty Images] It’s Fed day, investors. Here’s what you’ll need to know. Good morning. Global stocks and U.S. futures are pretty steady ahead of today’s big Fed decision—or, more likely, lack of one. Either way, there will still be plenty of fireworks as Jerome Powell gets grilled on inflation, growth, the labor market and bond-buying. That […]

This post is only available to members.

Read More

Americans’ inflation fears reach a fever pitch as consumer prices rise

[CNBC] Fears of inflation in the year ahead hit its highest level on record, according to a report by the Federal Reserve Bank of New York.  When inflation rises, savers may consider alternatives for stashing cash.As the economy quickly picks up steam in the wake of the Covid pandemic, Americans expect inflation to jump in the months […]

This post is only available to members.

Read More