The Biden Administration just announced its Housing Supply Action Plan with 19 immediate steps. Their top priority is to reform local zoning. On the upside, the Plan focuses on new funding for new construction instead of new funding for buying existing houses which just increases house prices and makes housing less affordable. On the downside,
A major Wall Street firm is drawing a striking parallel to the housing bubble. Blackstone’s Joe Zidle calls homes almost as unaffordable as the 2007 peak. Yet, he believes a crash is unlikely due to a major difference: Most owners aren’t using their homes like an ATM. “That caused so many people to go upside
Former Federal Reserve chairman Ben Bernanke says the main use of bitcoin is “mostly for underground economy activities and often things that are illegal or illicit.” He added, “I don’t think bitcoin is going to take over as an alternative form of money.” Ben Bernanke on Bitcoin, Cryptocurrency Former Federal Reserve chairman Ben Bernanke shared
FHN Financial Capital Markets will establish its first Midwest banking presence in Chicago, led by Melanie Shaker, and put banking boots on the ground in Scottsdale, Arizona, with the hiring of Rene Moreno. Shaker will join the firm’s existing Chicago office that houses sales professionals on May 24, and Moreno started Monday in what marks
New York City got some good news just as it prepares to come to market with more than $1 billion of general obligation bonds next week. Fitch Ratings revised the outlook on the city’s AA-minus rated GOs to positive from stable citing improved revenue performance as the city sees a recovery from the COVID-19 pandemic.
Brussels is set to cut its growth forecasts further and lift its inflation outlook as the energy crisis triggered by Russia’s invasion of Ukraine exacts its toll on the EU economy. Both the EU and euro area are forecast to expand by 2.7 per cent this year, well shy of the previous expectation of 4
In this article ZI COST CI COUR GDOT Megan Leonhardt | CNBC Friday’s rally gave investors a bit of respite from the latest bout of stock market tumult, but more volatility is likely ahead. It doesn’t help that inflation continues to bite, and the Federal Reserve’s move to raise rates has created further uncertainty. Wall
In this article TWTR AFRM HOOD TOST MSTR Check out the companies making headlines before the bell: Twitter (TWTR) – Twitter tumbled 14.6% in premarket trading after Elon Musk tweeted that his deal to buy the company was “temporarily” on hold, as he awaits details on the number of fake and spam accounts on the
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Dominik Schiener, a co-founder of the Iota Foundation, a nonprofit organization, and the creator of the Tangle, a permissionless,
Albi, set on the Tarn River in the south of France, has many claims to fame. The Episcopal city boasts the Cathedral Basilica of Saint Cecilia with its fortress-like brick exterior and lavish interiors. The consistent French Gothic architecture earned the cathedral, built over 200 years from the 13th and 15th centuries, a UNESCO World
A newly sold home is shown in Houston, Texas. Brandon Bell | Getty Images It could be more listings on the market, or perhaps just fear that interest rates will move even higher, but homebuyers are showing more demand for mortgages. They are, however, turning even more to adjustable-rate mortgages (ARMs), which offer lower rates.
Federal Reserve Bank of Cleveland President Loretta Mester backed raising interest rates by half percentage points at the central bank’s next two policy meetings in order to tamp down surging inflation. “Unless there are some big surprises, I expect it to be appropriate to raise the policy rate another 50 basis points at each of
Today’s trading strategy video is not one for the faint-hearted. False breakouts are one of those setups that require skill to identify and even more skill to trade successfully. Luckily we have an experienced trader like David Jones with us to pinpoint the factors that make the difference between winning and losing using this aggressive
As gas prices hit a fresh record high Friday, some analysts wonder when they will begin to impact the credit quality of transportation assets, like toll roads and airlines. Not now, S&P Global Ratings said in a report, but that could change if high prices stick around. “From a historical perspective, volatile fuel prices have
It took just seven days for the Terra (LUNA) ecosystem to spiral down as prices came crashing from $85 on May 5 to nearly $0 on May 12. As the market slowly gained clarity on what transpired, the trading volume of LUNA saw a steep recovery of over 200% over the weekend. As a result
German foreign minister Annalena Baerbock said the G7 group of industrialised nations was urgently seeking alternative routes for the export of Ukrainian grain as Russia’s war against its western neighbour raised the risk of a global “hunger crisis”. Speaking at the conclusion of a three-day meeting of G7 foreign ministers in Germany, Baerbock said some
Rafael Henrique | LightRocket | Getty Images MicroStrategy, the enterprise software maker that’s bet big on bitcoin over the past two years, is now underwater on its holdings of the world’s largest cryptocurrency due to the market tumble. Bitcoin traded around $28,000 apiece on Thursday morning, recovering somewhat from earlier losses that brought the digital
In this article TWTR AFRM HOOD Traders work on the floor of the New York Stock Exchange. NYSE Check out the companies making headlines in midday trading. Twitter — Shares of the social media platform slid 8% after Elon Musk said his take-private deal is on hold until he receives more information about how many fake accounts
Gone are the days of the humble log cabin, or so you’d think walking through this more than 11,000-square-foot getaway perched on the slopes of Arrowhead Mountain. Newly listed at $17.495 million, the seven-bedroom, eight-bathroom home features luxury amenities not often found in your average log cabin-style design, including a wine room, movie theater and
President Donald Trump looks on during a campaign rally in Battle Creek, Michigan. Leah Millis | Reuters A New York judge said Wednesday that he would lift a contempt of court finding against former President Donald Trump by next week if Trump’s legal team provides more information about a search for documents sought by the