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Latest Economy News
[Business Insider] The average gallon of gas in the US hit a high of $4.59 Tuesday, about 51% higher than a year ago. Demand on a four-week rolling basis was its lowest for this time of year since 2013, excluding 2020. Costs and a demand slowdown could dash hopes for […]
[Fortune, Getty] Not only are Americans not saving as much as they were in 2020 and 2021, but now they’re spending some of the cash they set aside. Through the economic turmoil of the coronavirus pandemic, there was one bright spot: Between lockdowns, stimulus checks, and unemployment benefits, many Americans were […]
[Yahoo! Finance, Getty Images] America’s middle class has been shrinking over the past 50 years as rising inequality pushes more households into the upper- and lower-income brackets. The share of aggregate household income held by the middle class has plunged since 1970, according to recent research by Pew Research Center, squeezing […]
[The Atlantic] But no, we’re not headed for anything even close to 2008. If you’ve tried to buy a home in the past two years, you have my most profound sympathies. Your experience has probably gone something like this: You found your dream home online; sent photos around to your […]
[MarketWatch, Getty Images] Has competition already fallen, and will it continue to do so? Mortgage rates on 30-year fixed rate loans have climbed from about 3.5% earlier this year to upwards of 5.6%, and pros say they may go higher (see the lowest mortgage rates you can qualify for here). […]
[Yahoo!Finance, Getty Images] As Recession Watch heats up, executives and Wall Street pros are debating when — as opposed to if — the next official downturn could occur amid the one-two punch of elevated inflation and rising interest rates. “As people take on higher mortgage interest rates, that means that in the future, we’ll […]
[Fortune, Bloomberg] Pittsburgh has been named the most affordable city for housing, as accommodation costs around the globe surge. Pittsburgh has been named the most affordable city for housing, as accommodation costs around the globe surge. Hong Kong, long the world’s most expensive city for housing, ranked bottom of the […]
[Fortune] For months, the U.S. housing market has been plagued by a historically low inventory of homes for sale, which has increased competition and driven up prices to record highs. The housing market finally appears to be entering a cool-off period, with prices beginning to decelerate. But the number of homes […]
[The Motley Fool, Getty Images] KEY POINTS Rapid home price growth and development may be reaching its peak. Sales for both existing homes and new homes are declining. Higher mortgage rates and inflation are making already expensive homes even less affordable. You’re reading a free article with opinions that may […]
[CNBC, Getty Images] “House poor” is a common expression used to describe people who are wasting too much money on housing, leaving them with too little to spend on everything else. But it can also refer to those who are getting too little housing bang for their buck. And now, […]