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☆ Housing has never been this unaffordable - and home prices are only going to keep rising, Goldman Sachs says
  + stars: | 2023-10-14 | by ( George Glover | ) www.businessinsider.com   time to read: +3 min
Housing is even more unaffordable now than ahead of the 2008 crash, according to Goldman Sachs. But the bank expects limited supply and borrowers being "locked in" at lower mortgage rates to drive prices even higher. "We continue to expect home prices to rise at a slow pace," strategists said in a research note. AdvertisementAdvertisementDon't expect US house prices to slip anytime soon despite record-high unaffordability levels, according to Goldman Sachs. AdvertisementAdvertisementGoldman Sachs noted that one benefit of the current tightness in the housing market is that there won't be a repeat of 2008, when home prices fell around 20% from their peak in the wake of the financial crisis.
Persons: Goldman Sachs, —, Goldman's, Lofti Karoui, that's, Freddie Mac Organizations: Service, National Association of Realtors, Biden Administration, Federal Reserve
☆ Silicon Valley Bank imploded in a single day. It could just be the tip of the iceberg.
  + stars: | 2023-03-11 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +8 min
The Federal Reserve's prolonged period of low interest rates created many financial dislocations that are now flaring up. Case in point: Silicon Valley Bank imploded in a single day after surging interest rates caused it to sell a bond portfolio at a huge loss. The chaotic episode showed that the Fed's aggressive interest rate hiking regime could upend institutions that were once thought to be relatively stable. Since the Fed started raising interest rates in March 2021, bitcoin — formerly a highly touted inflation hedge — has plunged more than 65%. "Investors, smelling blood, then turn their attention to the next bank exposed to interest rate risk and specific credit risk, and then the next."
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