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☆ Australia's house prices fall, interest rates soar but analysts say there's no crash yet
▼ + stars: | 2022-09-29 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +10 min

Mortgage rates have fallen to below 2% in recent years, but interest rates are rising rapidly in Australia. Home prices fallNational house prices have fallen for a fourth straight month as demand for homes start to slide due to higher costs of borrowing, according to Corelogic. In Sydney, Australia's biggest city, home prices have fallen over 7% since prices started unwinding at the start of the year, just before interest rates lifted. Since hitting peak prices earlier this year, house prices in Melbourne have fallen nearly 5%. Since hitting peak prices earlier this year, house prices in Melbourne have fallen nearly 5%.

☆ Analysis: Loonie bulls reel as Bank of Canada trails Fed on terminal rate bets
▼ + stars: | 2022-09-27 | by ( Fergal Smith | ) www.reuters.com time to read: +4 min

A Canadian dollar coin, commonly called a "loonie," and an American dollar bill are seen in this staged photo in Toronto, March 17, 2010. ,A lower terminal rate for the BoC than the Fed is not uncommon, but it threatens to pour cold water on Canadian dollar bulls' expectations that interest rate differentials would help underpin the currency over the coming year. The Canadian dollar has weakened 7.5% against the greenback since the start of the year. Canada's housing market has slowed rapidly in recent months, while its share of the economy, at 9%, is nearly twice that of the U.S. housing market. "Canada's economy is simply more interest rate sensitive than the U.S. economy," said Royce Mendes, managing director and head of macro strategy at Desjardins.

☆ Lumber prices fall to a new 2022 low as housing market cools and mortgage rates approach 7%
▼ + stars: | 2022-09-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The essential building commodity has been rocked by soaring mortgage rates and a slowing housing market. The average 30-year fixed mortgage rate inched closer to 7%, according to Mortgage News Daily. "Although U.S. housing prices remain substantially above their year-ago levels, July's report reflects a forceful deceleration," S&P DJI managing director Craig Lazzara said. "The lumber market continues to be in a state of overall malaise as buyers anticipate lower overall demand going forward. But until that happens, it's not difficult to see lumber prices trading in the pre-pandemic range of $200-$600.

☆ Home-prices growth slowed by the most on record in 'forceful deceleration' in July, S&P Case-Shiller says
▼ + stars: | 2022-09-27 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Growth in house prices slowed at the fastest rate on record in July, according to the S&P CoreLogic Case-Shiller index released Tuesday. Mortgage rates have jumped to more than 6% this year as the Fed raises interest rates. "Although U.S. housing prices remain substantially above their year-ago levels, July's report reflects a forceful deceleration," Craig Lazzara, managing director at S&P DJI, said in the report. "The -2.3% difference between those two monthly rates of gain is the largest deceleration in the history of the index." The Fed last week raised interest rates by another 75 basis points to bring the fed funds rate to a range of 3% to 3.25%.

☆ Investors say these 21 proptech startups are the most promising in their fields — and can even survive a housing downturn
▼ + stars: | 2022-09-26 | by ( Robert Davis | ) www.businessinsider.com time to read: +1 min

Insider asked 11 venture-capital investors to identify the top up-and-coming proptech startups. Investors nominated real-estate tech companies both in and outside of their own portfolios. They identified 21 proptech startups as the most promising in a cooling housing market. And layoffs at proptech companies have become common. We asked them to name such companies — including at least one that isn't in their portfolio — and explain why their picks are on track for success.

☆ Wharton professor Jeremy Siegel says the Fed's rate hike campaign is so extreme that recession risk is much higher than risk of the central bank 'waffling' on inflation
▼ + stars: | 2022-09-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The Fed runs a higher risk of sparking a recession than falling behind on inflation, according to Jeremy Siegel. Markets are now expecting a fed-funds rate of 4.75% in May of next year. That could be overkill, as inflation will continue to fall, Siegel warned. "[It's] so extreme I think the risk of recession is so much higher than waffling on inflation." That's too high, Siegel believes, considering that inflation is already starting to cool.

☆ What Cramer is watching Thursday — 2-year yield says Fed going much higher; job market remains tight
▼ + stars: | 2022-09-22 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

An inflation target from the Fed of 2%, does that mean we need the nation's unemployment rate to double? Weekly jobless claims up slightly to 213,000, but that's fewer than expected and suggesting the labor market remains tight. UBS upgrades Club holding Eli Lilly (LLY) to buy from neutral (hold), raises price target to $363 per share from $335. Barclays lowers price target on United Parcel Service (UPS) to $180 per share from $200, keeps equal weight (hold) rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Fed's Powell: U.S. housing market headed for 'correction'
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

U.S. Federal Reserve Board Chairman Jerome Powell attends a news conference after Federal Reserve raised its target interest rate by three-quarters of a percentage point in Washington, U.S., September 21, 2022. REUTERS/Kevin LamarqueSept 21 (Reuters) - Federal Reserve Chair Jerome Powell on Wednesday said the U.S. housing market will probably go through a "correction" after a period of "red hot" price increases that have put home ownership out of reach for many Americans. "There was a big imbalance ... housing prices were going up at an unsustainably fast level," Powell said at a news conference following the Fed's decision to raise its policy rate by another 75 basis points. We probably in the housing market have to go through a correction to get back to that place." The Fed's rate hikes this year have had their biggest impact on the housing sector, slowing sales and bringing prices a bit lower.

☆ How much ‘pain’ is the Fed willing to inflict? Wednesday’s rate hike will offer clues
▼ + stars: | 2022-09-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Federal Reserve Chairman Jerome Powell has acknowledged the economic pain this rapid tightening regime may cause. A larger hike is possible, but unlikelySome economists even expect the Fed to implement a massive — and historic — full-point rate hike on Wednesday. It meant that people understood the seriousness of the Fed’s commitment to getting inflation rates back down to 2%, he said. They want higher bond yields,” former New York Federal Reserve President Bill Dudley told CNN back in May. The Federal Reserve announces its rate hike decision Wednesday at 2 p.m.

While investors largely expect the Fed to lift its policy rate by 75 basis points to the 3.00%-3.25% range, markets could be unsettled by the updated quarterly economic projections that will be released along with the policy statement. In July, Powell's comment that the Fed might move to smaller incremental rate increases was read as indicating an imminent policy pivot. "Risks still skew toward higher terminal policy rates and we expect a relatively hawkish FOMC meeting," Citi economists wrote on Tuesday. The European Central Bank, following the Fed, earlier this month raised its key interest rate by three-quarters of a percentage point for the first time ever; Sweden's central bank this week approved its first full-percentage-point increase in 30 years. The Bank of England and the central banks of Switzerland and Norway will meet this week, with markets expecting them to announce large rate hikes.

☆ U.S. housing starts rebound in August; building permits decline
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +3 min

Housing starts rebounded 12.2% to a seasonally adjusted annual rate of 1.575 million units last month. Data for July was revised down to a rate of 1.404 million units from the previously reported 1.446 million units. Economists polled by Reuters had forecast starts would come in at a rate of 1.445 million units. Permits for future home construction dropped 10.0% to a rate of 1.517 million units in August. A survey on Monday showed the National Association of Home Builders/Wells Fargo Housing Market sentiment index fell for the ninth straight month in September.

☆ U.S. housing starts far exceed expectations in August, building permits decline
▼ + stars: | 2022-09-20 | 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 EmailU.S. housing starts far exceed expectations in August, building permits declineCNBC's Rick Santelli and Diana Olick join 'Squawk Box' to break down the latest housing starts and permits data.

☆ Stocks sink as investors wait for the Fed’s rate hike
▼ + stars: | 2022-09-20 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

Stocks slid Tuesday as investors grew anxious about the impact of another big rate hike. There were no earnings reports of note on Tuesday and not much economic data for investors to focus on other than a new housing report, which was mixed. The housing numbers are unlikely to change the minds of Fed policy makers, who will announce another rate hike on Wednesday. Stocks surged at the end of the trading session Monday after hovering near break-even levels for most of the day. “Transportation stocks are a canary in the coal mine when it comes to the economy.”

☆ What Cramer is looking at Tuesday — Fed rate watch, 2-year Treasury yield surge, Ford warning
▼ + stars: | 2022-09-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

What I am looking at Tuesday, Sept. 20, 2022 U.S. stock futures were up Tuesday until the 2-year Treasury yield kept up its relentless run to 4%. BofA takes timber company Weyerhaeuser (WY) to neutral (hold) from buy. Etsy (ETSY) started with a neutral (hold) at BofA. Truist takes Norwegian Cruise Line (NCLH) to buy from hold; cuts Carnival (CCL) price-target to $10 per share from $8. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

And layoffs at proptech companies have become all too common. That makes it harder for such startups to find customers as well as to woo funding from VCs. We've covered the hottest proptech startups before, but the current economic environment makes it much more difficult to determine which ones stand the best chance at success. To identify the startups that deserve the most attention right now, we polled a dozen venture capitalists who invest in proptech. Some VCs identified in this list recommended multiple proptech startups.

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☆ Fed meeting ahead will decide whether stocks can stabilize or fall back to bear market lows
▼ + stars: | 2022-09-16 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

FedEx rattled the market after it withdrew its full year earnings guidance Thursday, warning about global softness in its delivery business. After the CPI, markets shifted to price in an even more aggressive Fed rate hiking path. Fed ahead In the week ahead, there are just a few data releases, but they will provide an important window into how the housing market has been coping with the Fed's rate hiking cycle. "Good economic data has been bad for the market, but we haven't seen bad economic data be good for markets. After the CPI release, the futures market for fed funds priced a big jump higher in the terminal rate, or end point where the Fed stops hiking.

☆ Remote work is killing Florida as a retirement paradise
▼ + stars: | 2022-09-11 | by ( Gadel Valle | ) www.businessinsider.com time to read: +14 min

Housing prices, combined with the rise of remote work, threaten to end the middle-class dream of spending your final days in Florida. "It does put the retirement industry at risk because it's going to become more and more difficult" to retire in Florida, he told me. The political influence of Florida retirees is so significant that national publications send reporters to The Villages before elections to check its political pulse. The dream of a Florida retirement is dying as housing prices make it too expensive for most. And for people who are retiring now, the Florida retirement dream is starting to look a lot less sunny.

☆ Confused about the housing market? Here's what's happening now – and what could happen next
▼ + stars: | 2022-09-09 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +5 min

The U.S. housing market surged during the pandemic as homebound people sought new places to live, boosted by record-low interest rates. Here are the major factors behind the topsy-turvy housing market. Mortgage ratesThe main driver of the slowdown is rising mortgage rates. In the five years before interest rates began to rise, that income-to-payment ratio held steady around 20%. "Given the large role affordability challenges appear to be playing in shifting housing market dynamics, the recent pullback in home prices is likely to continue," Walden said.

☆ 'Super savers' share 7 strategies they use to save more than half of their income
▼ + stars: | 2022-06-21 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

'Super savers' who save more than 50% of their income track their spending and set specific goals. They also focus on increasing their income so they have more money to save. Insider rounded up seven savings tactics from "super savers," or people who are setting aside more than 50% of their income, to help you keep more of what you make. Focus on cutting the other 2 major expenses: food and transportationSuper savers will often focus on cutting "the big three expenses": housing, food, and transportation. If you're trying to save money on transportation, use public transit to get around if it's available in your area.

According to RenoFi, the average price of a single-family home in the U.S. could reach $382,000 by 2030. For example, the average price of a home in New York City this year is $795,000, but the average price around Albany in Upstate New York is $227,500, according to Redfin trends. It projects that San Francisco will have the highest average home value in the country at a staggering $2,612,484. For example, Betterment doesn't require clients to maintain a minimum investment account balance, but there is a ACH deposit minimum of $10. So if you want to buy a $400,000 home in 2030, you've got 9 years to start saving.

☆ One millionaire landlord was behind half of Milwaukee's evictions during Covid lockdowns last June. Here's the story of how corporate landlords helped drive the evictions crisis
▼ + stars: | 2021-03-26 | by ( Abigail Higgins | ) www.businessinsider.com time to read: +23 min

Corporate landlords in cities like Milwaukee helped drive an evictions crisis during the pandemic. Corporate landlords, which own almost 50% of rental properties, are more likely to evict, advocates say. Before the 2008 recession, corporate landlords owned 20% of rental properties; today, it's nearing a whopping 50%. Since the Center for Disease Control's evictions moratorium took effect last September, evictions by corporate landlords have actually been steadily increasing. There is no national database of evictions, and evictions are only tracked at the level of the country's more than 3,000 counties.

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