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☆ Warren Buffett is battling a bargain drought — and pared his Apple bet because it's a 'one-trick pony,' expert says
▼ + stars: | 2024-05-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett is building up cash because he can't find anything better, Ted Oakley said. Buffett probably cut his Apple stake to reduce his exposure to the "one-trick pony," Oakley said. AdvertisementWarren Buffett is stacking up cash because he's battling a bargain drought — and he likely trimmed Apple because he felt overexposed to the iPhone maker, one expert says. AdvertisementApple accounted for half of Berkshire's $354 billion stock portfolio at the end of December. "Warren Buffett knows that," he said.

Persons: Warren Buffett, Ted Oakley, Buffett, Oakley, —, overexposed, Berkshire Hathaway, Buffett's Organizations: Service, Oxbow Advisors, Apple, Oxbow Locations: pouncing, Berkshire, China, Russia, India, Saudi Arabia

☆ Can’t Afford to Scuba in Aruba? Try This Snorkeling Adventure Closer to Home
▼ + stars: | 2023-04-05 | by ( Caleb Johnson | ) www.wsj.com time to read: +1 min

STREAMING NOW Snorkel in a freshwater river for a brief encounter with an eel, a lamprey and other colorful fish. MY SNORKELING ADVENTURE began in a parking lot at Mile-0 of the French Broad River, which flows across more than 200 craggy miles in western North Carolina and into eastern Tennessee. It was a sunny day, and Kevin Merrill, who would serve as my guide, asked me to meet him there so he could gauge the conditions and figure out where to start. Over the weekend, heavy rain had fallen across Transylvania County, so the river was running higher than normal. I followed his white Subaru through the town of Rosman, N.C., where Mr. Merrill grew up and later worked at the public high school before starting Oxbow River Snorkeling along with his wife, Christie.

☆ Ivy Zelman, who famously predicted the 2008 housing crash, says that home prices could drop 20% from their current values if the economy doesn't improve
▼ + stars: | 2022-12-07 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

The Fed's fight against inflation has led to high mortgage interest rates, cooling housing demands. As demand falls, Ivy Zelman, a real-estate anaylist, said national home prices could fall by 20%. As long as mortgage rates remain elevated, Zelman said housing demand will continue to shrink — ultimately resulting in even steeper price cuts from sellers. This latest slide in rates is just 0.59% below the two-decade high that the rate hit just three weeks earlier. But as Zelman herself suggested, if the Fed continues with further rate hikes and mortgage rates remain elevated in 2023, this will become the likely culprit to a protracted housing slump.

☆ Home prices are falling at the fastest rate in 15 years. 7 real estate analysts and economists break down how bad they think it's going to get.
▼ + stars: | 2022-11-30 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +8 min

As demand fades in the housing market, price cuts have become widespread. However, despite more sellers cutting asking prices, home prices have still increased by 10.6% year-over-year. On an annual basis, Fannie Mae says house price growth will turn negative beginning in the second-quarter of 2023. According to Freddie Mac's Sam Khater, house price growth will average 6.7% in 2022 and then decline by 0.2% in 2023. With inventory levels at all-time lows, he believes supply and demand dynamics will give way to significant price declines nationwide.

☆ Pandemic hotspots like Phoenix and Denver hit their housing market peak earlier this year and there's more evidence than ever that they're descending back to earth
▼ + stars: | 2022-11-29 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Considering sales alone, these cities were among those that saw the most dramatic declines, according to data technology company Zonda. "There are many forces working against the housing market right now," Zonda Chief Economist Ali Wolf said in a report last week. By late spring, the markets were feeling the pain. In both Austin and Phoenix, home prices are rising at a pace 23% slower than they were last year, the report shows. Since late Spring, home prices in Phoenix have dropped 6.7% and in Austin, prices have dropped by over 10% since the end of May.

REUTERS/Fred Greaves/File PhotoCompanies PG&E Corp FollowSept 26 (Reuters) - Californian utility PG&E Corp (PCG.N) said on Monday it was cooperating with the U.S. Forest Service (USFS) after the federal agency started a criminal investigation into the U.S. state's largest wildfire this year. The power company's equipment has been blamed for sparking numerous wildfires, including some of the state's most deadly and destructive. The Mosquito Fire, which is 60% contained, has destroyed 78 structures and damaged 13, as of Sept. 25. PG&E said the USFS had indicated to it that the fire began in an area of the company's power line on National Forest System lands. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ruhi Soni in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

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