Confused about the housing market? Here’s what’s going on

A ‘For Sale’ sign is seen in front of a house in New York. Shannon Stapleton | Reuters The slowdown in the otherwise scorching housing boom was surprisingly quick. The U.S. housing market surged during the pandemic as housebound people sought new places to live, boosted by historically low interest rates. Now realtors who once … Read more

Confused about the housing market? Here’s what’s going on

A ‘For Sale’ sign is seen in front of a house in New York. Shannon Stapleton | Reuters The slowdown in the otherwise scorching housing boom was surprisingly quick. The U.S. housing market surged during the pandemic as housebound people sought new places to live, boosted by historically low interest rates. Now realtors who once … Read more

Homeowners lose wealth as rising interest rates weigh on home values

A “For Sale” sign in front of a home in Albany, Calif., on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Some homeowners are losing their wealth as high mortgage rates weigh on home values, at least on paper, as the once-hot housing market cools rapidly. Sales have been slowing for … Read more

Mississippi weather: A train is derailed and roads are washed out after torrential rains in the region

CNN — Wading through thigh-deep water, dozens of nursing home residents clung to a rope stretched across a flooded parking lot on Wednesday as they were evacuated from a Mississippi nursing home. Residents, aided by firefighters, volunteers and state troopers, passed submerged cars as they departed by school bus from the Peach Tree Village assisted … Read more

US stocks climb as strong economic data bolster sentiment ahead of Powell speech

U.S. stocks rose on Thursday, with major benchmarks heading for back-to-back gains after a string of strong economic data as investors awaited news from Federal Reserve Chairman Jerome Powell on Friday. How Stocks Trade S&P500 SPX rose 42 points, or 1%, to 4,183. Dow Jones Industrial Average DJIA advanced 150 points, or 0.5%, to 33,116. … Read more

Heroism fueled or not, the S&P 500 level is destined for another test of lows. These are the levels to watch, says this strategist

In the words of the great Bonnie Tyler: “It has to be safe, and it has to be soon, and it has to be larger than life.” The hero this market is waiting for is Fed Chairman Jerome Powell and he speaks on Friday, so it’s soon. Whether he is sure remains the question. “The … Read more

US housing market ‘in much worse shape’ than Fed admits: economist

The Federal Reserve’s policy tightening has sent the US housing market into a slump – and policymakers have yet to fully recognize the extent of the problems, according to a leading economist. Ian Shepherdson, chief economist at Pantheon Macroeconomics, provided a bearish outlook for homeowners after federal data showed sales of new single-family homes bottomed. … Read more

Home prices fall for the first time in three years, the biggest drop since 2011

An aerial view from a drone shows homes in a neighborhood on January 26, 2021 in Miramar, Florida. According to two separate indexes, prices for existing homes have reached their highest level in 6 years. Joe Raedle | Getty Images Home prices fell 0.77% from June to July, the first monthly decline in nearly three … Read more

A new supercycle is emerging for the economy, and stocks will benefit, strategist says

It’s been an interesting summer for financial markets – more or less a series of mostly pessimistic economic data has traders thinking the Fed will ease the pedal, although over the past week they’ve been less and less convinced of this point of view. Taking a longer lens, Dario Perkins, managing director of global macroeconomics … Read more

Apartment rents are finally slackening after an incredible run. Here’s how to play it

An apartment for rent sign seen on the Upper East Side of Manhattan. Adam Jeffrey | CNBC Apartment rent growth appears to have peaked after a terrific run in 2021, and that could boost some of the real estate stocks that were early darlings of the pandemic. Nationally, rents rose just 0.8% between June and … Read more