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“Why US homes were pulled off market at record pace last month” US listings of home for sale got pulled a record clip in November because of a major freeze in the market that surprised sellers, according to a recent report by real estate firm Redfin. An average of 2% of US homes up for…
“US hiring strong in November as employers added 263,000 jobs” The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a…
“‘Big Short’ investor Michael Burry warns US doomed to ‘multi-year recession’” Burry has repeatedly warned the US economy is in the midst of a major downturn. If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites. For…
“Union Joe suddenly turns into Union-Buster-in-Chief — to save himself” Huh! President Joe Biden actually cares more about something than Big Labor: himself. He now wants Congress to force rail unions to take a deal and avert a catastrophic strike, even though some unions have already nixed it. What a departure from the collective-bargaining-above-all approach…
“Adams is doing right in finding savings now — despite some ugly details” Kudos to Mayor Eric Adams for moving smartly to limit the municipal payroll as more bad budget news rolls in. In his third round of budget cuts this year, Budget Director Jacques Jiha on Monday ordered most city agencies to fill no…
“Tech’s slow-motion crash is now Mayor Eric Adams’ problem” Not even a week after Facebook laid off 871 New York City employees and not even two after Twitter laid off 418 locals, Mayor Eric Adams announced the city’s deficits over the next 3 ½ years are $1.5 billion worse than he projected in July, for a total $13.4…
“Why the ‘floor is coming’ for US housing market: economist” The US housing market is likely close to hitting a bottom following months of plummeting buyer demand and falling home prices, a prominent economist said in a note to clients this week. Homebuilder confidence fell for the 11th straight month in November and plunged to…
“Confidence in US housing market hits lowest on record: Fannie Mae” Consumer confidence in the US housing market has plunged to its lowest level on record as steep mortgage rates crush demand, according to findings released by Fannie Mae on Monday. Just 16% of consumers said they felt it was a good time to buy…
Here are the industries that added the most jobs in October — and the ones falling behind The U.S. economy gained 261,000 jobs in October, the Labor Department reported Friday. The latest figure is down slightly from September but still well above economists’ predictions of a 190,000-job gain. Despite high inflation, rising interest rates, slowing…
“Hyperinflation could cause worst economic crisis since WWII, fund warns” The global economy is at risk of crippling hyperinflation and “extraordinary” conditions that could prompt the worst financial crisis since World War II, according to major hedge fund Elliott Management. Elliott Management, led by famed billionaire investor Paul Singer, warned clients that extreme conditions present…