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NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at why side hustles are all the rage these days . Call it “overemployed light,” but working side jobs for some extra income is en vogue, especially for young people. For as much energy as they put into eliciting change, they also view their job as… just a job.
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New York CNN —Sheila Bair, who had a front row seat to the subprime mortgage meltdown, is worried today’s housing market is unsustainably hot. A housing bubble can form when prices rise to unsustainable levels. “I see much less speculation in the housing market today, thank goodness,” said Bair. ‘Dizzying heights’Legendary investor Jeremy Grantham shares Bair’s concern about a housing bubble. In many ways, today’s housing market is the polar opposite of the one that preceded the Great Recession.
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“Every one of these great bursts of euphoria, the great bubbles with overpriced markets … has been followed by a recession,” Grantham said. “When the great bubbles break, they do impose a lot of stress on the system,” Grantham said. What’s even more worrying is that this time, bubbles in the stock market and the real estate market are poised to burst simultaneously, Grantham said. The sector, which relies heavily on debt financing, has been hit hard by rising interest rates. Volcker raised interest rates to unprecedented levels to fight inflation in the late 1970s and early 1980s.
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