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☆ Golden Age for Rich Renters: Deals Make It Better Than Buying a Home
▼ + stars: | 2024-06-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +10 min

The result is that class A units account for more than half the apartment market, compared with one-third in the early 2000s, according to Moody's Analytics. High-end apartments that offer amenities up the wazoo — and rent breaks, to boot — represent a tantalizing alternative to the for-sale market right now. But as with all good things, the golden age for America's wealthy renters must also come to an end. Nations told me she still hoped to buy a home one day. "I know how challenging it is to rent in Nashville, especially on your own," Nations told me.

Persons: Emily Nations, she's, Nicole Bachaud, Rich, Joel Sanders, Sanders, Doug Ressler, David Brasington, Ressler, they're, — Organizations: Trinity, cabana, Nations, Analytics, University of Cincinnati, Census Locations: Nashville, downtown, Nations, New York, Salt Lake City, Atlanta, America, Houston, Austin, Phoenix, Charlotte, North Carolina, Raleigh , North Carolina, Tampa , Florida

☆ Investor home purchases jump for the first time in two years. Here's what that means for buyers
▼ + stars: | 2024-06-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

watch nowWhat an investor home purchase meansIn this context, investors are defined as any institution or business that purchases residential real estate, according to Redfin. Investor share refers to the portion of homes purchased by investors over a certain period, said Chen Zhao, senior economist at Redfin. Part of the recent increase in real estate investor activity is due to seasonality, as more homes are typically sold during the spring, Walsh said. Sales began to decline as mortgage rates climbed, as higher interest rates affect both typical homebuyers and investors, he said. What investor interest means for buyers and rentersIf you're a consumer buying on the market, you are competing against investors on top of other typical homebuyers, Zhao explained.

Persons: Chen Zhao, Zhao, Matthew Walsh, there's, aren't, Moody's, Redfin's Zhao, Walsh, Sales Organizations: Investor, Parcl Labs, Moody's, Investors, CNBC Locations: U.S

☆ Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut
▼ + stars: | 2024-05-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Inflation in the euro zone rose to 2.6% in May, statistics agency Eurostat said Friday, but a higher-than-expected print did not sway market bets of an interest rate cut from the European Central Bank next week. Core inflation, excluding the volatile effects of energy, food, alcohol and tobacco, increased to 2.9% from 2.7% in April. The data comes with the ECB widely expected to cut interest rates at its June 6 meeting, the first reduction since 2019. While headline inflation increased in May, fluctuations in the rate have been forecast over the coming months due to base effects from the energy market and the unwinding of government fiscal support schemes across the bloc, . Staff are also due to release their latest round of inflation and growth projections at next week's meeting, providing more clues on the pace and level of potential cuts this year.

Persons: Klaas Knot, Kamil Kovar Organizations: Eurostat, European Central Bank, Reuters, ECB, Staff, Moody's, U.S . Locations: Corfu, Old Town, Greece, London

☆ One-third of single-family homes for sale are newly built, report finds. Here's what buyers need to know
▼ + stars: | 2024-05-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

While new builds are still sold for slightly more than existing homes, the price gap has significantly narrowed. Over the last six months, the median price for a new home is only about 4% higher than the median price of an existing house. Reducing the square footage of your home can help reduce construction costs as well as utility and maintenance costs down the line. Keep construction costs down: Major factors like lumber and labor costs significantly impact the cost of a new house. And depending on the kinds of materials you add to the house, builders are "adding up the tab," Veronica Fuentes, a wealth management advisor based in Washington, D.C., previously told CNBC.

Persons: Alistair Berg, Digitalvision, Nicole Bachaud, Dietz, Matthew Walsh, Walsh, homebuilders, Veronica Fuentes Organizations: Getty, Zillow Group, CNBC, U.S . Census, U.S . Department of Housing, Urban, Moody's, Washington , D.C Locations: U.S, Washington ,

☆ Investors and economists are getting worried about more bank failures as interest rates stay high
▼ + stars: | 2024-05-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Fears of a potential banking crisis are on the rise as interest rates stay elevated. Interest rates are now at their highest levels since 2001 as the Fed keeps an eye on inflation. Markets have already seen 1 regional bank fail this year, according to FDIC data. According to Moody's Analytics chief economist Mark Zandi, the longer interest rates stay high, the more the Fed risks damaging the economy. "That's the kind of thing I'm worried about in the context of persistently high interest rates."

Persons: —, Mark Zandi, That's, Barry Sternlicht, Sternlicht, Daniel Pinto Organizations: Fed, Service, Analytics, Yahoo Finance, Bank, Regulators, First Bank, Fulton Bank, Stanhope Capital, Bloomberg Locations: Philadelphia, America

☆ Here's the deflation breakdown for April 2024 — in one chart
▼ + stars: | 2024-05-16 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Consumers have largely seen prices deflate for physical goods, such as cars, furniture and appliances, economists said. They've also declined for some groceries and other things, such as travel, according to the consumer price index. Physical goods prices have deflated in all but one month since May 2023, for example. watch nowThe U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Downward pressure on goods prices has waned a bit in recent months as supply-and-demand dynamics have normalized, economists said.

Persons: Oscar Wong, They've, they've, Michael Pugliese, Stephen Brown, Mark Zandi, Zandi, Hayley Berg, Hopper, There's, Brown Organizations: Consumers, Wells, Wells Fargo Economics, North, Capital Economics, Finance, GameStop, AMC, U.S, Federal Reserve, Canadian, Moody's, Airlines Locations: Wells Fargo, North America, U.S

☆ Here's the inflation breakdown for April 2024 — in one chart
▼ + stars: | 2024-05-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

That increase is largely due to dynamics in the market for crude oil, which is refined into gasoline, economists said. Annual housing inflation declined to 5.5% in April from 5.7% in March. Shelter and gasoline inflation combined contributed more than 70% of the monthly CPI increase for all items, according to the BLS. Americans' buying patterns also simultaneously shifted away from services — such as entertainment and travel — toward physical goods since they stayed at home more, driving up demand and fueling decades-high goods inflation. Wage growth has been one contributor to services inflation, for example, economists said.

Persons: Grace Cary, That's, Mark Zandi, we're, Zandi, Michael Pugliese, Trump, Stephen Brown, Pugliese Organizations: U.S . Labor Department, Moody's Analytics, Federal Reserve, of Labor Statistics, Wells, Wells Fargo Economics, U.S, U.S . Energy Information Administration, Finance, GameStop, AMC, Biden, North, Capital Economics, Supply Locations: U.S, Wells Fargo, North America

☆ 'Something could break': The Fed risks recession, bank failures if it doesn't cut rates soon, economist Mark Zandi says
▼ + stars: | 2024-05-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The Fed risks "breaking" something in the economy if it delays rate cuts, according to Moody's Mark Zandi. Higher interest rates raise the odds of recession or bank failures, the economist warned. "If I were king for the day, I would really be cutting rates at this point," Zandi told Yahoo Finance. Speaking to Yahoo Finance on Thursday, Zandi warned of the consequences that could arise if the Fed doesn't cut interest rates over the next few months. Keeping rates at their current level raises the risk of recession, and could expose other cracks in the financial system, Zandi warned.

Persons: Moody's Mark Zandi, Zandi, —, Mark Zandi Organizations: Yahoo Finance, Service, Moody's, Business

☆ As home sellers, buyers wait on a Fed cut, here's how mortgage rates have impacted the spring housing market
▼ + stars: | 2024-04-29 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ending April 25, according to Freddie Mac data via the Federal Reserve. It remains unclear when the Federal Reserve might make its first rate cut. "I believe our first rate cut is penciled in for July," said Matthew Walsh, assistant director and economist at Moody's Analytics. "We might not see rates fall in any meaningful way until [the] later half of this year," he said.

Persons: Freddie Mac, Matthew Walsh, Walsh Organizations: Federal Reserve, Moody's Analytics, Finance

☆ 'Not that concerned' about inflation getting back to Fed's 2% target, says Moody's Mark Zandi
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Not that concerned' about inflation getting back to Fed's 2% target, says Moody's Mark ZandiMark Zandi, Moody's Analytics chief economist, joins 'Squawk on the Street' to discuss if the economy's performing 'too well', how Zandi expects inflation to play out, and more.

Persons: Mark Zandi Mark Zandi

☆ Wall Street pushes out rate-cut expectations, sees risk they don't start until March 2025
▼ + stars: | 2024-04-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

If there was any doubt before, Federal Reserve Chair Jerome Powell has pretty much cemented the likelihood that there won't be interest rate reductions anytime soon. Now, Wall Street is wondering if the central bank will cut at all this year. "My sense is they need two, probably three consecutive months of inflation numbers that are consistent with that 2% target. Market pricing for rate cuts has been highly volatile in recent weeks as Wall Street has chased fluctuating Fed rhetoric. As for a second rate cut, there was a tilt toward one in December, but that remains an open question.

Persons: Jerome Powell, Powell, there's, They've, Mark Zandi, Zandi Organizations: Financial, Moody's, Fed Locations: Washington , U.S

☆ Here’s the inflation breakdown for March 2024 — in one chart
▼ + stars: | 2024-04-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

"The big rock in the way here is the cost of shelter," Zandi said. In fact, underlying inflation after stripping out shelter costs is already back to target, Zandi said. watch nowThe increase is largely attributable to higher oil prices. "For most Americans, the thing that bothers them the most about inflation is high food prices." Americans' buying patterns also simultaneously shifted away from services — like entertainment and travel — toward physical goods since they stayed at home more, driving up demand and fueling decades-high goods inflation.

Persons: Eric Thayer, That's, Mark Zandi, Zandi, It's, Hamrick, They're, Sarah House Organizations: Bloomberg, Getty, U.S . Labor Department, Moody's, of Labor Statistics, U.S, Energy Information Administration, BLS, Wells, Wells Fargo Economics Locations: U.S, Wells Fargo

☆ Euro zone inflation unexpectedly slows to 2.4% in March, with core print also below forecast
▼ + stars: | 2024-04-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Inflation in the 20-nation euro zone eased to 2.4% in March, according to flash figures published on Wednesday, boosting expectations for interest rate cuts to begin in the summer. Economists polled by Reuters had forecast the rate would hold steady against the previous month at 2.6%. The core rate of inflation, excluding energy, food, alcohol and tobacco, cooled from 3.1% to 2.9%, also coming in below expectations. Markets expect the euro zone's central bank will begin lowering borrowing costs in June — a position reflected in the recent messaging of ECB decision-makers. "Inflation has declined despite a jump in energy inflation, and a boost from an early Easter.

Persons: European Central Bank —, Price, Robert Holzmann, Carsten Brzeski, Kamil Kovar, Kovar Organizations: Reuters, European Central Bank, ECB, ING, Moody's Locations: Rome, Italy, France, Spain, Germany, Austrian

☆ Inflation will be key to Fed's decision on rate cuts: Moody's Mark Zandi
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation will be key to Fed's decision on rate cuts: Moody's Mark ZandiMark Zandi, Moody's Analytics chief economist, and Ted Rossman, senior industry analyst at Bankrate, and CNBC's Steve Liesman join 'The Exchange' to break down Jerome Powell's Wednesday remarks and more.

Persons: Mark Zandi Mark Zandi, Ted Rossman, Steve Liesman, Jerome Powell's

☆ Bumper corporate profits helped prevent mass layoffs and a recession, says leading economist
▼ + stars: | 2024-04-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

After-tax profits hit a record high of $2.8 trillion in the fourth quarter, per the Commerce Department. "The gangbuster gain in profits helps explain why businesses have been able and willing to hold the line on layoffs, which was key to avoiding recession," he said. Advertisement"It also helps explain the record stock market, and the resulting positive wealth effects and resilient consumer spending." Related storiesAs for stocks, they're generally valued at a multiple to company profits so they've hit record highs too. That has made stockholders feel wealthier and more comfortable spending, Zandi said.

Persons: —, Mark Zandi, That's, Zandi Organizations: Service, Corporate America, Corporations, Commerce Department, Business, Federal Reserve, Companies

☆ Economist discusses Baltimore bridge collapse
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaltimore bridge collapse won't be 'straw that broke the camel's back' in global shipping: EconomistHarry Murphy Cruise, associate economist at Moody's Analytics, says, however, that it comes at a "really fragile time" in global shipping.

Persons: Harry Murphy Cruise Organizations: Moody's Locations: Baltimore

☆ The wealth of the 1% just hit a record $44 trillion
▼ + stars: | 2024-03-28 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Middle-class Americans have also seen a rising wealth tide, with the middle 50% to 90% of Americans seeing their wealth increase 50%. The value of corporate equities and mutual fund shares held by the top 1% surged to $19.7 trillion from $17.65 trillion the previous quarter. The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter, as an end-of-year stock rally lifted their portfolios, according to new data from the Federal Reserve. Economists say the rising stock market is giving an added boost to consumer spending through what is known as the "wealth effect." "Of course, this highlights a vulnerability of the economy if the stock market were to falter.

Persons: Robert Frank, Mark Zandi, Zandi, Liz Ann Sonders, Charles Schwab, – Sonders Organizations: Federal Reserve, Moody's, Stocks, Conference Board Locations: U.S

☆ Home price growth is back at pre-pandemic levels. Here's what that means for buyers and sellers
▼ + stars: | 2024-03-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

"We're back to that trend, despite these higher mortgage rates," she said. However, the market today is vastly different from the market two to eight years ago, experts say. The average home is still unaffordable for most potential buyers while inventory has slightly improved but not enough to meet demand. "The sentiment we're getting from our agents is that neither sellers nor buyers are satisfied with this market," Fairweather said. And buyers are disappointed in rising prices and rising mortgage rates."

Persons: Daryl Fairweather, Matthew Walsh, It's, Fairweather, Sellers Organizations: Finance, Moody's Locations: U.S

☆ Moody's Analytics says it expects the Bank of Japan to exit negative interest rates
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMoody's Analytics says it expects the Bank of Japan to exit negative interest ratesKatrina Ell of Moody's Analytics says that's partly because of the "upside surprise" of the shunto wage negotiations.

Organizations: Bank of Japan

☆ Moody's Analytics: The Japanese economy is 'not looking too well'
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMoody's Analytics: The Japanese economy is 'not looking too well'Stefan Angrick, associate director at Moody's Analytics, says Japan's "real economy has been struggling."

Persons: Stefan Angrick

☆ The pandemic forced many women to leave their jobs. Hybrid work is bringing them back.
▼ + stars: | 2024-03-10 | by ( Allie Kelly | ) www.businessinsider.com time to read: +3 min

A rise in remote and hybrid jobs has allowed many women to seek higher-income roles. A narrowing of gender labor force gap since 2019 has added about $1.5 trillion to global income. Many women were forced to leave their jobs during the pandemic, thanks to poor market conditions and a rising need for childcare and older adult care. In the US, around 70% of working-age women participated in the labor force in 2020. Remote jobs also offer more flexibility.

Persons: — Organizations: Service, US Bureau of Labor, Statistics, Pew Research Center, European Union Locations: Australia, India, Japan

☆ These 28 regional and community banks exceed regulators' threshold for high commercial real estate concentration risk: here's what's really at stake.
▼ + stars: | 2024-03-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

But where banks' exposure to commercial real estate is concerned, locating that fire may be difficult. Rising interest rates quickly increased the cost of borrowing for investors in commercial real estate, including offices and multifamily homes. It doesn't reveal details such as borrowers' track records, said Mark Hillis, a former chief risk officer for commercial real estate at JPMorgan. There's also varying concentration risk: the largest banks with commercial real estate exposure are more diversified, meaning that any losses won't be as devastating, Baker said. "We think very few banks will run into issues just from their commercial real estate exposure," Reidy said.

Persons: Michael Barr, Jerome Powell, Todd Baker, Mark Hillis, Clifford Rossi, Robert H, Rossi, Baker, There's, Hillis, multifamily, haven't, You'll, Banks, you'll, Rebel Cole, NYCB, Matt Reidy, Reidy, Cole Organizations: Federal Reserve, Business, York Community Bank, SEC, Richman Center for Business, Law, Columbia University, JPMorgan, Smith, Smith School of Business, University of Maryland, Mortgage Banker's Association, Bank, Signature Bank, First, Countrywide Bank, Washington Mutual, Citigroup, multifamily, Florida Atlantic University, Federal, Regulators, TCRE, Equity RCRE, Community Bank, Provident Bank NJ, Merchants Bank of Indiana, Apple Bank for Savings, Oceanfirst Bank, Independent Bank, Lakeland Bank NJ, Ozk, Washington Federal Bank WA, Axos Bank, Sandy Spring Bank, Columbia Bank NJ, Farmers, Merchants Bank of CA, Popular Bank, Pacific Premier Bank, United Bank, Trust, Rockland Trust, Umpqua Bank, ServisFirst Bank, Bell Bank, Stellar Bank, National Bank of, National Bank of Florida FL, New York Community Bank Locations: multifamily, Basel, CRE, California, Rockland, National Bank of Florida

☆ The economy is resilient and fine but feels soft: Moody's Mark Zandi
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe economy is resilient and fine but feels soft: Moody's Mark ZandiPeter Boockvar, Bleakley Financial Group CIO, Mark Zandi, Moody's Analytics chief economist, and CNBC's Steve Liesman join 'The Exchange' to discuss their take from Fed Chair Jerome Powell's testimony, whether the Fed is in the mood to cut interest rates soon, and more.

Persons: Mark Zandi Peter Boockvar, Mark Zandi, Steve Liesman, Jerome Powell's Organizations: Bleakley Financial

☆ Immigration is 'taking pressure off' the job market and U.S. economy, expert says
▼ + stars: | 2024-03-02 | by ( Greg Iacurci | ) www.cnbc.com time to read: +10 min

Mark Zandi, chief economist at Moody's Analytics, said the increase in foreign-born workers is "taking pressure off the economy." The growth in foreign-born workers comes amid a contentious immigration policy debate in the U.S. Immigrants' share of the labor force has increased since 1996, when the Bureau of Labor Statistics began collecting such data. A growing population and labor force are key components of a healthy economy and the nation's ability to pay its bills, economists said. In other words, the economy is both absorbing immigrants and generating job opportunities for U.S.-born workers, the institute said.

Persons: Mark Zandi, it's, Alejandro Mayorkas, John Moore, Muzaffar Chishti, Jack Malde, Qian Weizhong, Steven Camarota, Camarota, Paul Ratje, Eric Thayer, Malde, EPI, Zandi, There's, Luis Alvarez Organizations: U.S . Bureau of Labor Statistics, Moody's, Republicans, U.S, Department of Homeland, U.S . Border Patrol, U.S . Department of Homeland, Getty, Migration Policy Institute, CNBC, Foreign, U.S . Immigrants, Bureau of Labor Statistics, Pew Research Center, Social Security, Congressional, Office, Center, Immigration, . Border Patrol, Getty Images, Federal Reserve Bank of San, Center for Immigration Studies, Afp, Bloomberg, Economic Policy Institute, National Academies of Sciences, Engineering, Medicine, Digitalvision Locations: U.S, Mexico, Eagle Pass , Texas, San Diego , California, Federal Reserve Bank of San Francisco, Paso, Ciudad Juarez , Mexico, Los Angeles

☆ A little-noticed inflation report in the past could get a lot of market attention on Thursday
▼ + stars: | 2024-02-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

With markets on edge over the direction of inflation, a report Thursday that often flies under the economic radar is likely to take on more importance. The Commerce Department's measure of personal consumption expenditures prices could add to evidence that inflation is stickier than some economists and policymakers had thought. Two-year inflation breakevens, or the difference between Treasury yields and Treasury Inflation-Protected Securities, have surged in recent days. "But I think the labor market is a lot more fragile than people think. A report Wednesday confirmed that economic growth was solid to close out 2023, with fourth-quarter GDP accelerating at a 3.2% annualized pace adjusted for seasonal factors and inflation.

Persons: Mark Zandi, Zandi, shouldn't, we're, it's, —, Susan Collins, Collins, Dow Jones, Dow, Michelle Cluver, Cluver, I've Organizations: Moody's, Boston, Securities, Treasury, Fed, Labor, CPI, Dow Jones, optimist Locations: U.S

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