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☆ The US cities where renters are struggling the most
▼ + stars: | 2024-07-02 | by ( John Towfighi | Eliza Relman | ) www.businessinsider.com time to read: +4 min

Related storiesIn Florida, there are five metro areas where more than 60% of renters are cost-burdened. Two Pennsylvania metro areas were in the top 10 for the highest percentage of cost-burdened renters: State College and East Stroudsburg, at 63% and 61%, respectively. According to the Harvard report, 45% of renters in Stillwater, Oklahoma, are severely cost-burdened, the highest percentage in the nation. AdvertisementCorvallis, Oregon; Port St. Lucie, Florida; and State College, Pennsylvania, are the three metro areas that are in the top 10 for both cost-burdened and severely cost-burdened renters. Home prices and mortgage interest rates have surged in recent years, putting homeownership out of reach for even more renters.

Persons: —, Alexander Hermann, erelman@businessinsider.com Organizations: Service, Harvard Joint Center for Housing Studies, Business, Harvard, Harvard's, for Housing, State College, East, State College , Locations: Naples , Florida, Corvallis , Oregon, Florida, Naples, Marco, Port St, Lucie , Florida, Pennsylvania, East Stroudsburg, Stillwater , Oklahoma, State College , Pennsylvania

☆ US new home sales plunged unexpectedly last month
▼ + stars: | 2024-06-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington CNN —Sales of newly built homes dropped last month as mortgage rates remained elevated. New home sales, which make up only about 10% of the market, fell 11.3% in May from the prior month, to 619,000, according to government data released Wednesday. That was the steepest monthly decline since September 2022 and marks the lowest level since November. Mortgage rates soared to the highest level of the year in early May and have since trended down. “Persistently high mortgage rates are keeping many prospective buyers on the sidelines,” NAHB chairman Carl Harris said in a release.

Persons: That’s, “, ”, Carl Harris Organizations: Washington CNN —, Federal, National Association of Home Builders, Housing, “ Locations: Wells Fargo

☆ Here's how bad housing affordability is now
▼ + stars: | 2024-06-25 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Home prices set another record in April, even as mortgage rates rose and the supply of homes for sale increased. Usually, under those circumstances, prices would weaken, but today's housing market is unlike any other in recent history. The housing cost burden has hit a record, according to a new report from Harvard's Joint Center for Housing Studies. Housing supply was already low before the Covid pandemic hit, because homebuilders had yet to recover from the 2008 financial crisis. Then there was a pandemic-induced run on housing, causing supply to drop to record lows for several years.

Persons: Brian Luke, Dow, HJCH, homebuilders, Homebuilders couldn't, Orphe Divounguy Organizations: Mortgage News, Dow Jones, Harvard's, for Housing Studies

☆ Consumer spending, inflation, and housing are 3 things to watch in the market next week
▼ + stars: | 2024-06-22 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Nvidia had some strong moves in the days after its 10-for-1 stock split traded in the market on June 10. Tuesday brought weaker-than-expected May retail sales , which the stock market took in stride, perhaps on the view that softness helps the view that the Federal Reserve will indeed cut interest rates later this year. Ultimately, the economic readings this past week signal that while U.S. growth remains resilient, things are slowing, which is an ideal setup for stock market bulls. The Fed's favorite inflation gauge and the tail end of earning season will be drivers of the market in the week ahead. ET: New Home Sales Before the bell: General Mills (GIS), Paychex (PAYX), UniFirst (UNF) After the bell: Micron (MU), BlackBerry (BB), Levi Strauss (LEVI) Thursday, June 27 8:30 a.m.

Persons: we're, Levi Strauss, Mills, LEVI, McCormick, Jim Cramer's, Jim Cramer, Jim, Emily Elconin Organizations: Nasdaq, Dow, Nvidia, Microsoft, Apple, Broadcom, Energy, West Texas, Utilities, Federal, Juneteenth, FedEx, Nike, Micron, UniFirst, UNF, BlackBerry, Walgreens Boots Alliance, Outdoor Brands, Jim Cramer's Charitable, CNBC, Shoppers, Getty Locations: U.S, Oaks, Novi , Michigan

☆ Home prices around the US are being cut at a faster pace as inventory piles up
▼ + stars: | 2024-06-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US Home prices are falling faster as sellers try to entice buyers fatigued by high mortgage rates. The share of homes on the market that saw a price cut rose to over 16% last month, according to Realtor.com. AdvertisementHome buyers may start feeling some relief soon, as house prices in the US are being slashed at faster clip. Related storiesPrice cuts are also taking place in more markets across the US, with 46 of the 50 largest metropolitan housing markets seeing a price cut last month. Price cuts are good news for homebuyers who have been waiting for the housing market to loosen up.

Persons: —, Price, Realtor.com, decelerate, Sabrina Speianu, homebuyers, Freddie Mac Organizations: Service

☆ US home prices just hit a record high. Americans are still buying
▼ + stars: | 2024-06-21 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

The situation could improve somewhat later this year, when the Federal Reserve is expected to begin paring back interest rates from a 23-year high, which should bring down mortgage rates. But Fed officials have penciled in just one rate cut for this year, and the days of ultra-low interest rates are long gone. Economists don’t expect the average mortgage rate to fall below 6% in 2024. However, there have been some steps in the right direction: Total housing inventory has steadily increased throughout this year, according to NAR data. New home construction also contributes to housing supply, but high interest rates seem to have pumped the brakes on homebuilding.

Persons: ”, Lawrence Yun, “, don’t, That’s, NAR’s Yun Organizations: Washington CNN — Homes, National Association of Realtors, NAR, “, Federal Reserve, Fed, Housing Locations: America

☆ Housing inflation will need to come down before the Fed can think about cutting rates, BofA says
▼ + stars: | 2024-06-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

With shelter inflation "sticky" at a 5.4% year over level, Gapen said it could be months before "greater confidence" is achieved. "We think the Fed is unlikely to achieve the confidence it needs to begin rate cuts until shelter inflation takes a step lower," he said. Monthly housing inflation readings in the PCE measure have been running at either 0.5% or 0.4% since March 2023. We don't target housing prices, for example," Powell said. Philadelphia Fed President Patrick Harker, a nonvoter on the FOMC this year, on Tuesday singled out the "long-term stubbornness of shelter inflation."

Persons: Michael Gapen, Gapen, Jerome Powell, Powell, Patrick Harker Organizations: Federal Reserve, Bank of America, Commerce, Philadelphia Fed

☆ The 4 key things we're watching in the stock market this holiday-shortened week
▼ + stars: | 2024-06-15 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Also helping was the 8.5% rally in portfolio heavyweight Nvidia following its 10-for-1 stock split on Monday. Within the Club this week, we heard from Broadcom , which reported strong quarterly results and announced its own 10-for-1 stock split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Economists, Jerome Powell, financials, That's, Here's, FactSet, Lennar, LEN, Jabil, Smith, Jim Cramer's, Jim Cramer, Jim, Brendan McDermid Organizations: Nasdaq, Dow Jones, Wednesday, PPI, Apple, Broadcom, Oracle, Adobe, Nvidia, Investors, Housing, Monday, Darden, Olive Garden, Longhorn, U.S, Accenture, Kroger, KR, Wesson, Jim Cramer's Charitable, CNBC, Federal Reserve, New York Stock Exchange Locations: U.S, Olive, New York City

☆ Investors wonder if tech can keep lifting S&P 500 to new records this summer as some cracks emerge
▼ + stars: | 2024-06-14 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Wall Street is wondering whether the tech rally that's pushed the S & P 500 through record after record this year can continue, even as some cracks emerge in the market outlook. .SPX YTD mountain S & P 500 near record highs A peek inside the major indexes also reveals a similar pattern. Information technology is the best-performing sector in the S & P 500 this week, gaining 6.2%. As it is, the S & P 500 is already above 5,400, having advanced more than 13% this year. Winners and losers market David Miller, investment chief at Catalyst Funds, also said the S & P 500 could end 2024 with a 17% or 18% gain.

Persons: Jeff Klingelhofer, it's, Klingelhofer, Brian Nick, Nick, Dave Sekera, Dave Donabedian, Donabedian, David Miller, Miller Organizations: Nasdaq, Nvidia, Dow Jones, Apple, Thornburg Investment Management, CNBC, Macro, Federal Reserve, Morningstar, CIBC Private Wealth, Catalyst Funds, Microsoft, Google, Visa, MasterCard, American Airlines, Delta Air Lines, Novo Nordisk, TransDigm, Index, Retail, Manufacturing, Housing, Philadelphia Fed, Kroger, Darden, PMI Locations: U.S, NAHB

☆ Here are 9 stocks that can benefit from Fed interest rate cuts
▼ + stars: | 2024-06-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Housing We see Stanley Black & Decker as a major beneficiary of Fed rate cuts due to its link to the housing market. On the one hand, lower rates mean a bank like Wells Fargo makes less money on the money it lends. Biotech Danaher should also see some benefit as lower rates lead to improved funding dynamics for biotech companies. Like in housing, monthly payments become far more manageable at lower rates, and therefore affordability and demand, stand to increase. Salesforce , which has also highlighted more measured deal activity, might not benefit as much from lower rates.

Persons: Jerome Powell, Stanley Black, Decker, Stanley, That's, Wells, Morgan Stanley, SVB, Ford, We're, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Nasdaq, CNBC, Fed, Biotech, Silicon Valley Bank, Ford, Palo, Networks, Microsoft, Jim Cramer's Charitable, Bloomberg, Getty Locations: Wells, Wells Fargo, Silicon Valley, Colma , California

☆ Inflation slows in May, with consumer prices up 3.3% from a year ago
▼ + stars: | 2024-06-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The monthly rate rose 0.3% in April while the annual rate was 3.3%. Though the top-line inflation numbers were lower for both the all-items and core measures, shelter inflation increased 0.4% on the month and was up 5.4% from a year ago. Housing-related numbers have been a sticking point in the Federal Reserve's inflation battle and make up a heavy share of the CPI weighting. Though the Fed doesn't use the CPI as its main inflation indicator, it still figures into the calculus.

Persons: Dow Jones, Price, Robert Frick, Joseph LaVorgna, FOMC Organizations: department's Bureau of Labor Statistics, Labor Department, Treasury, Dow Jones, Navy Federal Credit Union, Federal Reserve, CPI, Nikko Securities, Commerce Locations: U.S

☆ My partner and I are financially unstable, but we still want kids. We can't decide if we should go for it anyway.
▼ + stars: | 2024-06-08 | by ( Victoria Derr | ) www.businessinsider.com time to read: +4 min

We are both in our 30s, so it's the perfect time, but we have one big problem: We are financially unstable. We can't decide whether to go for it anyway or race the clock between fertility and financial stability. My partner and I are struggling financiallyMy partner and I were both raised middle class. Housing, food, childcare, education, transportation, and healthcare are all vital when raising children. Our goal is to improve our financial situation before my fertility window closesFor now, we are seeking out options.

Persons: We've, —, you'll Organizations: Service, Business

☆ Why you should buy the dip in stocks before next week's jobs report, Fundstrat says
▼ + stars: | 2024-05-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Investors should buy stocks ahead of next week's May jobs report, according to Fundstrat's Tom Lee. "We see high probability that stocks perform well into next week's May jobs report," Lee said. AdvertisementInvestors should buy the dip in stocks ahead of next week's release of the May jobs report, according to a Friday note from Fundstrat's Tom Lee. "Thus, we see high probability that stocks perform well into next week's May jobs report," Lee said. Such a report would match the April jobs report and likely put some pressure on the Fed to cut interest rates sooner than later.

Persons: Tom Lee, Lee, — Organizations: Service, Nasdaq, Dow Jones, PCE, Housing

☆ My adult kids live at home. Space is tighter and costs are higher, but it might be the best way for them to save enough money to buy a house.
▼ + stars: | 2024-05-30 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

We've got three adult children, and two of them have boomeranged after college. I also look at the low interest rates from the pandemic, trying to prop up the economy. Interest rates — people don't want to move out of their homes when they have good interest rates. They don't sell because they know they're going to get into a new mortgage with higher interest rates. We feel like we're blessed that our adult kids want to spend some time with us.

Persons: —, Alex Gonzalez, Gonzalez, We've, it's, They're Organizations: Service, Business, Utilities Locations: Bloomington , Minnesota, Minneapolis

☆ More people will never own a home — they're the 'forever renters'
▼ + stars: | 2024-05-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

These "forever renters" vary widely in their reasons for not pursuing home ownership. Others prefer the flexibility to move and freedom from ownership costs that renters enjoy. Homeownership and renting have numerous pros and cons, making it hard to say whether forever renters are acting shrewdly or making a big mistake. Renters avoid large down payments and the varying costs of homeownership, such as mortgage payments, taxes, maintenance, and repairs. It's also cheaper to change the place you're renting than the place you're buying because of real-estate agent fees."

Persons: —, Grant Wilson, Eunjee Kwon, David Brasington, Kautz, There's, Colin Lizieri, they've Organizations: Service, Business, University of Regina, University of Cincinnati, University of Cambridge Locations: Germany, Switzerland

☆ For Millennials, Living Alone Is Status Symbol Milestone
▼ + stars: | 2024-05-25 | by ( Juliana Kaplan | Rosalie Chan | ) www.businessinsider.com time to read: +14 min

That's helping establish a new millennial milestone for some: Ditching roommates, moving out from the family home, and landing on living alone. Business Insider's analysis of American Community Survey microdata from IPUMS found that 10.5% of millennials lived alone in 2022. Per BI's analysis of American Community Survey data via IPUMS, 16% of millennials lived with at least one parent as of 2022. (The data doesn't specify if that means they're living with their parents or if their parents are living with them.) Subsidized solo livingSome lower-earning millennials are able to get assistance reaching the solo-living milestone — but it's not always easy.

Persons: Jess Munday's, Jess Munday's San Francisco, Munday, " Munday, I'm, it's, IPUMS, millennials, Bella DePaulo, they've, DePaulo, she'd, Jess Munday, Dara Feller, Aria Velasquez, they're, " Velasquez, Velasquez, Erica Charles, she's, Charles, Rick Fry, Fry, She'd, She's, Clibborn, Sydney Krantz, He's, —, homeownership Chaz Zimmer, Chaz Zimmer, Adrianna Newell, Tomasz Piskorski, Piskorski, Zimmer hasn't, Zimmer, he's, James Paniagua, Paniagua, snagging, Julia Mazur, Kathy Pierre, Pierre Organizations: Business, American, Survey, Pew, BI Garak, BI, Subaru, Columbia Business School Locations: Jess Munday's San, Francisco's, San Francisco, Chicago, Washington ,, IPUMS, Florida, California, Waverly , New York, homeownership, Oakland , California, Los Angeles, Oakland, London, Austin, Charlotte , North Carolina, Charlotte

☆ Mortgage rates fall for the third straight week, dipping below 7%
▼ + stars: | 2024-05-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —Mortgage rates declined for the third consecutive week in a shred of good news for Americans dealing with a still-tough housing market. Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Federal Reserve’s decisions on interest rates. Stubbornly high inflation this year has dashed hopes that the Fed could cut interest rates in the spring or in the summer. Some Fed officials said earlier this week that they likely won’t raise interest rates again and a few have said they expect to cut rates this year. With mortgage rates still elevated, some homeowners are deciding to stay put.

Persons: Freddie Mac, inflation’s cooldown, there’s, homebuyers, ” Sam Khater, Freddie Mac’s, That’s, ” Lawrence Yun, ”, Yun, Joe Biden Organizations: Washington CNN —, Treasury, National Association of Realtors, Fed, Housing Locations: San Diego, Chicago, Detroit

☆ Opinion: Rewatching ‘Notting Hill,’ the truly unbelievable part is Hugh Grant’s house
▼ + stars: | 2024-05-22 | by ( Opinion Laura Beers | ) edition.cnn.com time to read: +11 min

The Notting Hill of the 1990s was still socially heterodox and shabby chic, a neighborhood where a group of 30-something professionals could plausibly have ended up. Even in the late 1990s, such access to disposable income marked the characters in “Notting Hill” out as privileged. Yet, in the 1990s, Notting Hill, long a center of Caribbean immigrant culture and the site of the annual Notting Hill Carnival, underwent a rapid process of gentrification. Between 1995 and 1999, Notting Hill house prices rose by 75%. The colorful terraced houses of Notting Hill, which these days sell for millions of pounds.

Persons: Laura Beers, ”, George Orwell’s, Richard Curtis ’, Julia Roberts, Anna Scott, Hugh Grant, William Thacker, Roberts, Laura Beers Laura Beers, it’s, —, Curtis, Hill’s, Hugh Grant's, Winston, George Orwell, Orwell, Tony Blair’s Britain, Bill Clinton’s America, Grant’s, Tony Blair, Steve Eason, Notting, Spike, Rhys Ifans, Notting Hill, Mike Kemp, San, Spencer Platt, Rishi Sunak’s government’s, Bill, Rewatching Organizations: American University, CNN, MCA, Everett, Notting, Labour, Hulton, Getty, Movement, Housing, Federal Reserve, New York State, Hill ” Locations: American, London, West London, Notting, West, Britain, United States, Young, Notting Hill, Central London, San Francisco, Manhattan, San Matteo, Redwood City, York

☆ Low-income Americans wait years to get housing vouchers that are often impossible to use. Fixing the system could mean more funding and less red tape.
▼ + stars: | 2024-05-18 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The federal Housing Choice Voucher Program, also known as Section 8, is also the biggest, aiding about 5 million people in 2.3 million households. While it's illegal in some places to discriminate against voucher holders, the practice isn't outlawed everywhere. Fully funding housing vouchers would mean many more housing-insecure and unhoused people would get help. Related storiesIn its budget for fiscal year 2025, the Biden administration requested a $2.5 billion increase for voucher funding over 2023 levels. Researchers at the Department of Housing and Urban Development have proposed piloting a direct cash transfer program for rent as an alternative to housing vouchers.

Persons: Will Fischer, Biden, Jenny Schuetz, isn't, Lindsey Nicholson, Michael Stegman, Stegman, Tara Radosevich, Fischer, Schuetz Organizations: Service, Business, of Housing, Urban Development, Budget, Harvard, The New York Times, Republicans, Brookings Institute, Getty, Urban Institute, HUD, Washington State, Department of Housing Locations: —, Los Angeles, Fort Worth, Philadelphia, Iowa, Long Island City, Queens, Oregon

☆ Live Updates: Inflation Expected to Cool Slightly
▼ + stars: | 2024-05-15 | by ( Ben Casselman | ) www.nytimes.com time to read: +9 min

Housing Inflation Remains Stubbornly High Economists had expected two measures of rental inflation to fade in 2023 and 2024, but that process is taking time to play out. There are two main measures of inflation in America, the Consumer Price Index and the Personal Consumption Expenditures index. Consumer Price Index Inflation Remains Hotter The Consumer Price Index is climbing faster than the Personal Consumption Expenditures index, in large part because it weights housing more heavily. With housing, Consumer Price Index inflation totaled 3.5 percent in March. But the convergence between new and existing rent inflation is taking a lot longer than expected.

Persons: There’s, “ It’s, ”, Mark Zandi, Biden, Zandi, grousing, “, O.E.R, We’re, would’ve, Mark Franceski, I’ve, Ernie Tedeschi, Tedeschi Organizations: New York Times, Federal Reserve, Index, Housing, Zelman, Associates, White House Council, Economic Advisers Locations: America, bam, Europe

☆ Singapore’s Riches Grew Under Its Leader. So Did Discontent.
▼ + stars: | 2024-05-14 | by ( Sui-Lee Wee | ) www.nytimes.com time to read: +1 min

He made Singapore even more prosperous by largely following the semi-authoritarian and free-market model pioneered by his father, Lee Kuan Yew, the country’s first leader. On Wednesday, Singapore gets a new leader for the first time in nearly 20 years. But there are concerns that the vaunted “Singapore model” is failing more and more people. Singapore is one of the most expensive cities in the world, but it does not have a minimum wage. The strains are exacerbated by the need for overseas workers; about 40 percent of Singapore’s nearly six million people are not citizens.

Persons: Taylor Swift, Lee Hsien Loong, Lee Kuan Yew, Lee, Lawrence Wong Locations: Singapore, United States

☆ Inflation data commands center stage next week and provides a test for the market rally
▼ + stars: | 2024-05-11 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

All three major U.S. stock indexes closed higher for the week, led by the Dow Jones Industrial Average . The Nasdaq Composite added 1.14% while the S & P 500 advanced 1.85% in a relatively quiet week of economic updates. Within the portfolio, Disney and Wynn Resorts released quarterly numbers; we took issue with the stock reaction to both reports. It also raises the stakes around major economic releases, such as next week's consumer inflation report. In the week ahead, earnings season continues — headlined by Walmart on Thursday — and inflation data will dominate the economic calendar.

Persons: We've, Jim Cramer, Dow Jones, we'll, We'll, Stanley Black, Decker, Jack, JACK, Arcutis, Spero, JD.com, Armour, Jim Cramer's, Jim, Carlo Allegri Organizations: Dow Jones, Nasdaq, Disney, Wynn Resorts, Procter, Procter & Gamble, Walmart, CPI, PPI, Club, Home Depot, Biotech Corporation, Music Entertainment, Central Puerto S.A, TeraWulf Inc, Paysafe Group Holdings, QuickLogic Corporation, Kopin Corp, Royalty Corp, Agilysys Inc, Crop Solutions Corp, Inovio Biomedical, Intercorp Financial, Lithium, Argentina ) Corp, Sea, Sony Group Corporation, SONY, Holding, HudBay Minerals, Autolus Therapeutics, Game Technology, Nu Holdings, Dragonfly Energy Holdings Corp, Bakkt Holdings, Prestige Consumer Healthcare, SilverCrest Metals, Inc, Mining Corp, Acurx Pharmaceuticals, Cresco Labs, Dole plc, DOLE, Arcos Dorados Holdings, ARCO, Cisco Systems, Grab Holdings, Copa Holdings S.A, Technologies, Iris Energy, KORE Group, Super, Spero Therapeutics, ZTO, Baidu, Deere & Company, NICE, Lightspeed Commerce, Ship Lease, Canada Goose Holdings, Drainage Systems, Consolidated Water Co, Outlook Therapeutics, Despegar.com, Corp, DXC Technology Company, Flowers Foods, Bruker Corporation, WYNN, CNBC, Foods Locations: Procter &, Central, Cayman, Lithium Americas, Argentina, Manhattan, New York City

☆ Airbnbs are primed to take over Miami, which is already facing a housing crunch
▼ + stars: | 2024-05-10 | by ( Dan Latu | ) www.businessinsider.com time to read: +3 min

A Florida real-estate firm forecasts that 31 pre-construction condo buildings in the Miami region are ripe for Airbnbs. So many, in fact, that they outnumber the amount of traditional rentals tagged for development over the same time. "We've had a development industry that is adding more short-term rentals to South Florida inventory," Studnicky told BI. AdvertisementDevelopers in the Miami region should focus on creating more traditional rentals to alleviate pressure in the market, Studnicky believes. In the past 10 years, Studnicky estimates a much more robust 20,000 traditional rental units were built in Miami.

Persons: —, Craig Studnicky, Studnicky, We've Organizations: ISG, Service, Dade, Miami Homes, Miami Locations: Florida, Miami, Dade County, Broward County, South Florida, Broward

☆ US home prices have soared 47% so far this decade, outpacing all of the growth seen in the 1990s and 2010s
▼ + stars: | 2024-05-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

US home prices have soared 47% so far this decade. The price surge has outpaced the gains seen in the 1990s and 2010s, and is nearly ahead of the 2000s. AdvertisementUS home prices have soared 47.1% so far this decade, according to a ResiClub analysis of the Case-Shiller National Home Price Index. The massive price gains seen in the first four years of the 2020s have eclipsed all of the growth seen in the 1990s and 2010s, according to the analysis. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business

☆ Wall Street expects rate hikes are off the table for now. Next week’s inflation data will test that thesis
▼ + stars: | 2024-05-10 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Stocks have been churning higher lately after Fed Chair Jerome Powell indicated rate hikes are likely off the table , a position that investors expect is a bullish event for equities. A strong earnings season, as well as some cooler labor data , also have investors more optimistic in this year's outlook. On Friday, all three major averages are on pace for a winning week, with the 30-stock index up by more than 2%. The market reaction Inflation data has been crucially important this year for investors. Export Price Index (April) 8:30 a.m. Housing Starts (April) 8:30 a.m.

Persons: Jerome Powell, Mike Dickson, Stocks, Dickson, Jeff Buchbinder, Buchbinder, Strategas, Jason De Sena Trennert, Ken Mahoney, Mahoney, Charles Schwab, Price Organizations: Federal Reserve, Dow Jones, Treasury, Horizon Investments, Nasdaq, UBS, Investments, ICE, Fed, LPL, Asset Management, Walmart, Deere, Retail, Cisco, Price, Housing, Philadelphia Fed, Manufacturing, Materials Locations: NAHB

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