Adviser poll: how close are we to a global recession? ftadviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ftadviser.com Daily Mail and Mail on Sunday newspapers.
Home prices have resumed their upward climb despite mortgage rates that have doubled post-COVID. According to Craig J. Lazzara, Managing Director at S&P CoreLogic Case-Shiller Indices, the National Index for July hit an all-time high. That index, which covers all nine U.S. census divisions, rose 1.0 percent from the previous July, after posting zero change on an annual basis in June.  The 10-City Composite showed an increase of 0.9 percent after a 0.5 percent loss the previous month and the 20-City Composite was up 0.1 percent, improving from an annual loss of 1.2 percent. Chicago, Cleveland, and New York led the way for the third consecutive month reporting the highest year-over-year gains among the 20 cities in July. Chicago remained in the top spot with a 4.4 percent increase, with Cleveland (which has long vied with Detroit for the low spot in Case-Shiller’s numbers) was second, with a 4.0 percent annual gain.  New York held down the
Finally, Some Better-Than-Expected Economic News yicaiglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yicaiglobal.com Daily Mail and Mail on Sunday newspapers.
inventory is tight and expected to only get tighter now that mortgage rates have officially hit 7%, the highest we ve seen in over 20 years. chief economists warn it could go higher if the fed is not done raising rates. when you look at the real estate market a balanced market is when you have 6 or 7 months of inventory available. right now there is two months. the owners purchased this home in 2021 for about $360,000. just two years plus renovation later they could be getting half a million for this home. that is why the ceo of red finn has said the housing market has hit rock bottom. the only ones moving are those that have to. right now 60% of homeowners have a mortgage rate of 3.5% or lower. so if they sell that home, they are giving up their 3 1/2% mortgage rate for a 7% mortgage.