Millennials are reaching peak homebuying age as affordability pressures reach a fever pitch.
Falling lumber prices and accelerated construction would slow price inflation, but only somewhat.
Experts see little risk of the housing market s boom turning into a bubble. But that doesn t mean there s no reason to worry.
Housing has served as one of the rare economic hot spots during the coronavirus pandemic. Tumbling mortgage rates boosted demand, which quickly spurred rampant homebuying. The spree quickly snapped up most of the country s available supply, and the record-breaking inventory drought led owners to demand higher and higher prices.
The intensity of the market boom and data tracking it has prompted countless comparisons to the mid-2000s housing bonanza. In many ways, this market resembles the state of play in 2005 and 2006, which was the peak of a previous bubble that burst, to disastrous effect. But a few key differences separate today s market from the one of about 1
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New York City prosecutors charged a man with stealing over $2.4 million through PPP loans.
The man is accused of applying for five PPP loans and lying about the number of employees he had.
Prosecutors alleged he transferred the vast majority of the money to personal trading accounts.
A New York City investment manager was charged Friday with stealing more than $2.4 million from five lending institutions through Payment Protection Program loans, prosecutors said in a statement.
Gregory Blotnick, 33, is accused of applying for five separate PPP loans between April 2020 and August 2020, and lying about the number of employees he had at his companies, Brattle Street Capital LLC and BSC Management LLC.
Over 70 cadets at West Point were accused of cheating on a math exam in May 2020.
On Friday, the academy released a statement confirming that 51 of those cadets will repeat a year and eight will be expelled.
The academy also announced that it will discontinue a program put in place to help protect cadets in violation of the academy s honor code from being kicked out.
In what s being called West Point s biggest cheating scandal in decades, 51 cadets will be required to repeat a year and eight have been expelled, academy officials said Friday.
Last year, 73 cadets were accused of cheating on a final math exam in May, which was taken remotely because of the pandemic.