Accommodation

The housing market correction takes an unexpected turn

The housing market correction takes an unexpected turn

The Federal Reserve has a simple playbook for fighting inflation. It goes like this: Keep applying upward pressure on interest rates until business and consumer spending across the economy weakens and inflation recedes. Historically speaking, the Fed’s inflation-fighting playbook always hits the US housing market particularly hard. When it comes to housing transactions, monthly payments …

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New housing market data reveals a stunning shift as these 21 of the top 50 metro areas show price declines for June

New housing market data reveals a stunning shift as these 21 of the top 50 metro areas show price declines for June

It’s finally happening. After soaring 40% from pre-pandemic levels in the biggest boom in decades, home prices peaked in June and started falling in July. That’s the startling, sudden change revealed in a new data set just released by the American Enterprise Institute’s Housing Center, a leading source for detailed city-by-city figures on everything from …

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Is this a recession or not? While it's 'not entirely clear,' here's what it could mean for American consumers

Is this a recession or not? While it’s ‘not entirely clear,’ here’s what it could mean for American consumers

Americans want to know: is this a recession or not? Officially, the National Bureau of Economic Research defines a recession as “a significant decline in economic activity that spreads throughout the economy and lasts more than a few months.” Indeed, the latest quarterly gross domestic product report, which tracks the overall health of the economy, …

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