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Top related persons:
— - 1 Ebrahim Poonawala - 1 Goldman Sachs - 1 — CNBC's Michael Bloom - 1
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Southwestern West Coast San Francisco Los Angeles Las Vegas Florida Georgia Texas
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Bank of America - 2 Coasters - 1 Service - 1 Bank of - 1 Jacksonville - 1 Las - 1 metros - 1 U.S . Treasury - 1

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2 mentions found


☆ Single HENRYs are fleeing West Coast cities like San Francisco and Los Angeles for the Sunbelt, study finds
  + stars: | 2024-02-06 | by ( Eliza Relman | Noah Sheidlower | ) www.businessinsider.com   time to read: +5 min
These movers are disproportionately higher-income, a new Bank of America report found. Las Vegas and Phoenix are the only Western cities Bank of America analyzed that had population increases compared to first quarter 2020. Housing costs are a major reason people are leaving West Coast cities for the Sunbelt. But many Sunbelt cities have more permissive land-use and zoning regulations than their coastal counterparts, meaning they're often better equipped to keep up with rising demand by building more homes. Both West Coast and Sunbelt cities that aggressively restrict housing construction will likely continue to face affordability crises.
Persons: — Organizations: Coasters, Bank of America, Service, Bank of, Jacksonville, Las, metros Locations: Southwestern, West Coast, San Francisco, Los Angeles, Las Vegas, Florida, Georgia, Texas, Austin, San Antonio, Francisco, Seattle, Portland, San Diego, Phoenix, Miami, Orlando, Tampa, South, West
☆ Bank of America says long-term investors should buy these beaten-up bank stocks
  + stars: | 2023-10-04 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com   time to read: +1 min
The recent sharp rise in interest rates has created a buying opportunity in some financial stocks, according to Bank of America. Surging bond yields have the potential to slow the U.S. economy and damage the financial sector, weighing on bank stocks. But Bank of America analyst Ebrahim Poonawala said in a note to clients Wednesday that some stocks have fallen far enough that investors who can stomach the volatility should turn buyers. "We see it as almost impossible in the near term for bank stocks to disconnect with the price action in [U.S. Treasury] yields. The stocks Bank of America highlighted as trading at this attractive level include Wells Fargo , Goldman Sachs , First Horizon and East West .
Persons: Ebrahim Poonawala, Goldman Sachs, — CNBC's Michael Bloom Organizations: Bank of America, U.S . Treasury Locations: U.S, Wells Fargo
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