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☆ A top-2% portfolio manager who pulled off a shocking turnaround last year outlines the investing strategy that lifted her fund by 59% — and her 9 favorite stocks to buy now
▼ + stars: | 2024-02-06 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Starke stuck to the same process for the large growth fund she's managed singlehandedly for the last decade. Her large-cap growth fund is built on quality stocks with successful business models, durable competitive advantages, and top-tier management teams. "The best way to generate long-term growth of capital and outperformance for investors is through longer-term ownership in a focused portfolio of market-leading growth companies." What successful growth stocks look likeThe stocks that Starke focuses on typically increase revenue by over 10% and earnings by 15%, she noted. "I look at PEGs often because that's the only way for fast-growing companies," Starke said.

Persons: Cindy Starke, Starke, she's, couldn't, —, fund's, that's Organizations: Fund, Business, Meta, Nvidia Locations: outperformance

☆ Netflix has a stranglehold on its competition, but the streaming wars aren't over. Here's how Disney and Amazon could dethrone the dominant streamer.
▼ + stars: | 2024-02-05 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

"Netflix won the streaming wars in 2009 when they started streaming," said Tim Nollen, a media analyst at Macquarie. "I think it's a little bit ridiculous, to be honest," Bazinet said when asked if Netflix has won the streaming wars. AdvertisementHow Hollywood can beat Netflix at its own gameHollywood stalwarts can compete in streaming, Bazinet argued — provided the media industry first consolidates even further. The two biggest threats right now are Disney — which has about 220 million subscribers across Disney+, Hulu, and ESPN+ — and Amazon. Nollen said Amazon would flood the market with cheap ads and crush its competition like it did in e-commerce.

Persons: —, That's, Jason Bazinet, Tim Nollen, They've, Bazinet, overreacted, Jessica Reif Ehrlich, Reif Ehrlich, Nielsen Bazinet, Joe Bonner, Bonner, John Hodulik, Hodulik, I'm, Macquarie's, Nollen, it's Organizations: Service, Netflix, Business, Citigroup, Disney, Paramount, Macquarie, Hollywood, Bank of America, Nielsen, ESPN, Argus Research, Hulu, UBS, Amazon Locations: Hulu

☆ These are the 22 best stocks to buy for up to 94% upside while AI leads markets higher, according to Goldman Sachs
▼ + stars: | 2024-02-04 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Investors hoping for new leadership in the stock market have been sorely disappointed, as 2023's top performers have generally enjoyed encores early in the year. "The potential of AI and a burgeoning positive inflection in corporate demand for software and compute power are fueling the hyper-scalers and the facilitators of technology," Kron wrote. Economists at Goldman Sachs boosted their US GDP growth projection from 2% to 2.4% in January since consumers and the government are spending more than expected. AdvertisementA normalizing economic environment will allow the Federal Reserve to lower interest rates throughout the year, according to Goldman Sachs. 22 stocks to buy nowBesides sharing its latest market commentary, Goldman Sachs unveiled its conviction list of companies it's most confident in now.

Persons: —, Goldman Sachs, Steven Kron, Kron, Goldman Organizations: Service, Business, Nvidia, Microsoft, Meta, Goldman, Federal Reserve, Wall Street Locations: East, Russia

☆ Hedge funds are making big bets on these 20 companies in a 'stock-pickers' paradise' — even though they're skeptical about the market's surge to record highs
▼ + stars: | 2024-02-02 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

A contrarian indicator from Bank of America implies the S&P 500 will rise 14% over the next year. Although US stocks have been on a tear lately, professional investors aren't getting too excited. The S&P 500's rally to record highs in late January has been met with skepticism by Wall Street, according to Bank of America. That could be a reason for caution — or a sign that stocks have more room to run. An elevated reading on the SSI suggests that professional investors advise shifting toward stocks — a sign of excessive optimism that warrants selling.

Persons: aren't, Wall Organizations: Bank of America, SSI, Business Locations: Bank

☆ Homebuyers searching for a bargain should target these 10 cities where home prices are down even as the housing market heats up
▼ + stars: | 2024-02-01 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Read previewThe US housing market is showing signs of life again after the weakest year for home sales since the financial crisis . Home transaction volume tanked in 2023 as buyers and sellers became dissatisfied with the state of the real estate market. Would-be buyers became renters as mortgage rates surged to levels not seen since the turn of the century, hurting home demand and frustrating sellers. Mortgage rates are down over one percentage point from their fall peak, though they're still much higher than they were throughout the 2010s. 10 cities where prices are downThe outlook for buyers is finally improving, especially in cities where home prices are falling.

Persons: —, Realtor.com, Danielle Hale, they're Organizations: Service, Business Locations: Denver, Seattle, Miami

☆ A top-7% fund manager shares his strategy for winning in both up and down markets — and names 5 of his favorite stocks to buy during the rally to all-time highs
▼ + stars: | 2024-01-31 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But fund manager Mick Rasmussen of Wasatch Global Investors isn't going all-in on stocks. For this fund, buying stocks is only part of the equationAs a long/short fund manager, Rasmussen can profit from both winning and losing stocks. Rasmussen usually has 50 to 60 holdings each on the long and short sides of his fund, he said. Advertisement"We hope that regardless of what the market's doing, our stock-picking is going to be the biggest driver of performance," Rasmussen said.

Persons: —, Mick Rasmussen, there's, Rasmussen, Morningstar, Stocks, We're, Rasmussen doesn't, they're Organizations: Service, Wasatch Global Investors, Business, Wasatch, Alpha Fund Locations: Utah

☆ Small-cap stocks are the cheapest they've been since 2000 and are an under-the-radar way to profit from AI, a strategy chief predicts. Here are 5 ways to play their upcoming rally.
▼ + stars: | 2024-01-30 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

A soft landing would greatly boost small caps since they're economically sensitive, meaning they tend to thrive in expansions and fall during contractions. Marcelli also made note of smaller companies' weaker balance sheets, though those are arguably accounted for in valuations. With that said, those positive forces appear to be intact, so small caps could finally break out. Instead of selling AI chips or products, smaller companies can enhance their productivity by using the technology, the strategy chief said. 5 sectors where small caps can thriveWithin small caps, Temple said he's less focused on what sector a company falls into and more concerned with whether that firm is financially healthy.

Persons: haven't, Russell, Marcelli, Ronald Temple, Temple, couldn't, there's, Jack Janasiewicz, Janasiewicz, he's, you've, I'd, they've Organizations: Business, Yahoo Finance, UBS Global Wealth Management, Lazard Asset Management, Temple, Reserve, Savings, Nvidia, Devices, Microsoft

☆ Licensing to Netflix has become a big business for studios again, but some insiders worry it could backfire
▼ + stars: | 2024-01-29 | by ( Lucia Moses | James Faris | ) www.businessinsider.com time to read: +7 min

Read previewCash-hungry entertainment studios are back in the content licensing game, sending their valuable shows like HBO's "Sex and the City" and Disney's "Grey's Anatomy" back to Netflix. Licensing has historically been a mainstay of entertainment companies, except for a brief period when many hoarded content while they built up their own streaming services. "It's the future," said Dan Cohen, the chief content licensing officer at Paramount. Netflix and other entertainment companies that sought full ownership of content as they built up their streaming services are now becoming more agnostic about it. But, for now, the major entertainment companies don't have much of a choice.

Persons: —, Mike Pears, Pears, Jessica Reif Ehrlich, Dan Cohen, Reif Ehrlich, Mitch Metcalf, Metcalf, Meeka Bondy, Perkins, John Hodulik, Tim Nollen, Netflix's, it's, Nollen Organizations: Service, Netflix, Business, AMC, Apple, Warner Bros . Discovery, Paramount, Bank of America, ABC, NBC, Metcalf Entertainment Intelligence, UBS, CBS, Macquarie, Hulu

☆ Renters on a budget should look in these 27 cities where apartment prices are plunging
▼ + stars: | 2024-01-28 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

One-bedroom rent rose by less than 1% for the fifth-straight month after rising for 12 consecutive months starting in October 2021. Rent growth in the US is far from its pandemic peak, according to the January rent report from @Zumper. pic.twitter.com/3QhWPCyaUp — James Faris (@JamesFaris_) January 25, 2024Apartment prices have been driven down by surging supply, Zumper noted. Many renters are now enjoying perks that would've been unheard of during the pandemic, including waived security deposits and a free month of rent, Zumper found. Below are 27 metropolitan areas where the going rental rate for a one-bedroom apartment is at least 5% lower than it was last January, according to Zumper.

Persons: 3QhWPCyaUp — James Faris, @JamesFaris_, Zumper, Anthemos Georgiades Organizations: Business Locations: @Zumper

☆ 'The trend is your friend': A professional trader who spotted last year's market rally early encourages investors to ride stocks to new highs — especially these 20 hot investments
▼ + stars: | 2024-01-27 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Advertisement"I don't want to doubt this market," Salama said. Stocks will pause soon but still have upsideFollowing a brief consolidation period in early January, the S&P 500 has taken off again and set a streak of record highs. Chances are, the S&P 500 will top out around current levels of 4,900, Salama said. Even if the S&P 500 takes a hit, Salama doesn't think it will be down for long. Within the consumer discretionary sector, Salama expressed interest in e-commerce, cloud computing, and media powerhouse Amazon ( AMZN ).

Persons: —, John Salama, wasn't, Salama, we've, Stocks, It's, Salama doesn't, Russell, he's Organizations: Service, Business, Dow Jones, Microsoft, Netflix, Nvidia, Devices, Apple, AMD, Communication, Healthcare Locations: what's

☆ 8 stocks that can soar during a surprisingly strong Q4 earnings season, according to Morgan Stanley
▼ + stars: | 2024-01-26 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

Notably, Morgan Stanley is also calling for similarly solid growth this quarter despite a slew of negative revisions for fourth-quarter earnings in recent months. Post-earnings moves are top of mind for Morgan Stanley, which noted that they've been subdued throughout 2023. Its strategists are also eyeing corporate guidance and subsequent earnings revisions, which could determine whether analysts' pessimism will continue. Morgan Stanley's S&P 500 profit estimate of $229 is well below the market's projection of $243. 8 stocks that stand out nowA better-than-feared fourth-quarter earnings season will be especially friendly to eight companies that can surprise to the upside after reporting, according to Morgan Stanley.

Persons: Morgan Stanley, Michelle Weaver, they've, Weaver, Morgan Stanley's Organizations: Business, Bank of America, Western Digital

☆ 'This is not the tech bubble': A 41-year market veteran explains why US stocks are still cheap after surging to all-time highs — and names 4 investments that can lead markets even higher
▼ + stars: | 2024-01-25 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

The S&P 500 rose for nine straight weeks, its longest winning streak since 2004, as optimism built about future interest rate cuts. Stoltzfus predicted that S&P 500 earnings will end 2024 between $240 and $250. "Just about everything that you buy costs more today than it cost in 2019, 2020, before 2021 when this started taking hold, except for stocks," Stoltzfus said. Another argument that's more widely discussed is that last year's gains were driven by a handful of large growth stocks. "Some, on a multiple basis, are considerably cheaper outside of Big Tech," Stoltzfus said.

Persons: John Stoltzfus, Stoltzfus, he's, It's, Ameriprise's Anthony Saglimbene, DWS Group's David Bianco, Goldman Sachs, Tesla, —, Oppenheimer, Stocks, that's, it's Organizations: Business, Oppenheimer Asset Management, University of Michigan, Stoltzfus, Apple, Microsoft, Netflix, Nvidia, Big Tech, Software, isn't, Facebook, Google Locations: industrials

☆ The chartmaster who predicted the robust year-end rally shares when the S&P 500 will break through the 5,000 milestone — and outlines a 4-part investing blueprint for a disappointing pullback
▼ + stars: | 2024-01-21 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Just over two months ago, the S&P 500 was at a breaking point. After Keller's call, the S&P 500 rose nearly 6% in six weeks. The S&P 500 was stuck in purgatory for weeks, barely budging from the 4,769 level at which it entered 2024. David Keller, StockCharts.comExpect the S&P 500 to heat up heading into the summerDespite stocks' shaky near-term prospects, Keller believes their medium-term outlook is rosy. In all likelihood, Keller said the S&P 500 will regain momentum after a near-term hiccup and push toward the 5,000 milestone in April, May, or June.

Persons: David Keller, naysayers, Keller, it'll, StockCharts.com, that's Organizations: Business, Nvidia, Devices, AMD, VanEck Semiconductor Locations: StockCharts.com

☆ These are the 30 best investments to make now as US stocks rally to record highs, according to bullish strategists at 3 large investment firms
▼ + stars: | 2024-01-21 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Lerner noted that such occurrences are correlated with near-term pain as well as sizable forward returns. Another encouraging omen for US stocks is their successful track record in the second year of a bull market, as Belski noted last fall. Furthermore, since the financial crisis, Belski noted that stocks fell in the first month eight times but have ended the year in the green in six of those years. BMO Capital Markets30 investments to make during a rallyIn addition to sharing market commentary, strategists at BMO, Truist, and UBS outlined investment ideas as stocks enter uncharted territory. UBS spotlighted high-quality stocks with healthy balance sheets and sound earnings that drive profitability, especially since economic growth is slowing.

Persons: Solita Marcelli, Keith Lerner, Brian Belski, Lerner, Belski, who've Organizations: Business, BMO, Truist, UBS, BMO Capital Markets, BMO Capital, UBS spotlighted Locations: Swiss, Europe

☆ 'A lot of ifs and leaps of faith': 7 investment chiefs and strategists break down earnings trends in what may be a make-or-break Q4, and 3 sectors to watch
▼ + stars: | 2024-01-19 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Markets are closely monitoring Q4 earnings results, which began rolling out in mid-January, since they give much-needed clarity on the prior year while setting the tone for the year ahead. AdvertisementWhat to expect during the Q4 earnings seasonEarnings seasons often bring surprises, but there are also bankable bets. But we're going to be driven more by the macro, if we're excluding these mega-cap tech stocks." 3 sectors with boom-or-bust potentialWhile the strategists Business Insider spoke with didn't provide investing recommendations, several shared which sectors they're watching in Q4. Bianco believes the tech sector's earnings will rise over 20% this year.

Persons: —, Matt Stucky, Stucky, David Kelly, UBS Josh Jamner, That's, Jamner, Carol Schleif, Schleif, there's, Anthony Saglimbene, David Bianco, Saglimbene, Bianco, Brad Klapmeyer, Klapmeyer, " Bianco, Ameriprise's Saglimbene, BMO's Schleif, Indrani De, De, she's, he'd, that's Organizations: Service, Business, Northwestern Mutual Wealth Management, Asset Management, UBS, ClearBridge Investments, BMO Family Office, DWS, Macquarie Asset Management, FTSE Russell Locations: Americas

☆ Top money managers warn that 2024 earnings expectations are getting out of hand, even as Wall Street firms scramble to raise their S&P 500 targets
▼ + stars: | 2024-01-18 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Goldman Sachs"We expect price increases to be driven by modest earnings growth and well-supported price-to-earnings multiples," wrote Austin Pickle, a strategist at WFII, in a January 16 note. Stucky continued: "I've never seen a re-acceleration in earnings growth — which is what the baseline expectation is for earnings — absent some sort of economic recovery or an acceleration in economic growth. He noted that many factors influence profits, but added that his forward model suggests there's earnings risk ahead. Bianco said he expects flat or mid-single-digit earnings growth for stocks in most sectors. However, he said that during expansions, GDP growth is a poor predictor of earnings growth.

Persons: Goldman Sachs, Austin Pickle, Jonathan Golub, Golub, Matt Stucky, Stucky, I've, Brad Klapmeyer, He's, Klapmeyer, Anthony Saglimbene, —, Saglimbene, Saglimbene doesn't, David Bianco, Bianco Organizations: Business, Wells, Investment Institute, UBS, Federal Reserve, Northwestern Mutual Wealth Management, Macquarie Asset Management, DWS Group

☆ The new investment chief at $290 billion BNY Mellon Wealth Management makes the case for her 5 favorite investments while US stocks struggle to break through record highs
▼ + stars: | 2024-01-14 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

BNY Mellon Wealth Management's chief investment officer explained why stocks have limited upside. Sinead Colton Grant has hit the ground running in her new role as the chief investment officer at BNY Mellon Wealth Management. What to expect in the economy this yearThe theme of BNY Mellon Wealth Management's 2024 outlook report is "a healthy slowdown." However, Colton Grant acknowledged that there are serious discrepancies between how high- and low-income households experience the economy. 5 top places to invest nowBNY Mellon Wealth Management may be neutral on equities broadly, but it has a bullish overweight rating on US stocks.

Persons: Sinead Colton Grant, BNY, she's, BNY Mellon, Colton Grant, David Kelly, Colton, Kelly, Colton Grant's Organizations: BNY Mellon Wealth, BNY Mellon Wealth Management, BNY Mellon, BNY, JPMorgan Asset Management, Business, Mellon Wealth Management, Federal Reserve, Mellon, Management, Asset Management, BMO Capital Markets Locations: BlackRock, Invesco

☆ A swanky 10,000 square-foot home in San Francisco just lost half of its $20 million value in 3 years
▼ + stars: | 2023-12-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

A six-floor duplex home in San Francisco had its price slashed by $10 million in just three years. It was bought for $20 million in 2020, but then sold for only half that value in November. Home values in San Francisco have been sinking in the last year after reaching a peak in April 2022. AdvertisementA 10,000-square-foot duplex apartment in San Francisco was just sold for only half of its $20 million value from three years ago, as the city's housing market suffers a recent slump. Home prices have been slashed across the US over the last year, but San Francisco is often a poster child for the decline because property there is notoriously expensive.

Persons: —, Rohin Dhar, Leslie Stretch, Zillow, Business Insider's James Faris Organizations: Service, Bay, Business Locations: San Francisco, Calcutta, Francisco

☆ A new era for the market means a new way to think about investing
▼ + stars: | 2023-12-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe market volatility in the wake of the pandemic gave people visions of getting rich overnight, but true investing is a long-term play. As a result, a new market regime means new investing strategies will be necessary, James and Will write. Setting aside recency bias, it's been relatively easy to generate good returns in the market over the past 10 years. AI names may have commanded the market's attention lately, but another corner of the market is seeing impressive gains: stocks tied to digital assets.

Persons: —, Liam Eisenberg, Insider's James Faris, Will Edwards, Let's, James, Will, Spencer Platt, that's, Arantza Pena Popo, bitcoin, Alyssa Powell, Prasad Kalyanaraman, Cybertruck, Elon Musk's Cybertruck, Jay, Tyra Banks, Blake Snell, Thomas Carlyle, I'd, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Business, Getty, Marathon Digital, Oxford Dictionary Locations: America, Europe, EU, New York City, San Diego, London, New York

☆ 16 stocks to add to your portfolio now with markets set to rally to new all-time highs in 2024, according to an $861 billion investment firm
▼ + stars: | 2023-12-02 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

Strategists are generally bullish about 2024, especially those at BMO Capital Markets. The firm sees US stocks rising by at least 11% in the second year of the bull market. Here are 16 US-based companies that BMO says stand out right now. US stocks have exceeded all expectations this year , and history says investors should prepare for an impressive encore in 2024 that includes new record highs. Double-digit market returns are in the cards again next year, according to BMO Capital Markets.

Organizations: BMO Capital Markets, BMO, Business

☆ Here's why some of Wall Street's biggest bulls are still calling for a recession in 2024 — and 4 investments they recommend right now
▼ + stars: | 2023-12-02 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

After a year of steady, resilient growth, the US economy will finally slip into a recession in 2024. Deutsche Bank is also calling for double-digit profit growth in a weaker economic backdrop. "For 2024, the house economics view with a mild short US recession implies $250 (+10%)," Chadha wrote in reference to S&P 500 earnings. Deutsche Bank also foresees earnings growth next year. "We remain overweight the financials as well as consumer cyclicals as they are already priced for a recession and the biggest beneficiary of an eventual recovery," Chadha wrote.

Persons: That's, —, Chris Grisanti, Brian Belski, Chadha, Belski, Financials, BMO's Organizations: Wall, Business, BMO Capital Markets, Deutsche Bank, MAI Capital Management, CNBC, BMO, Deutsche, Labor, Investors, Tech Locations: Chadha

☆ It's never been a smarter time to rent instead of buying a home — especially in these 32 US cities where landlords' asking prices are plummeting back to earth
▼ + stars: | 2023-11-29 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Buying a home has never been more expensive relative to renting, according to new research from online rental platform Zumper . Rent was up at the slowest year-over-year pace this month since December 2020, according to Zumper. 32 cities where rent is down meaningfullyFortunately for renters, declines in apartment asking prices are both significant and widespread. Below are the 32 cities where the median rent for a one-bedroom setup is at least 3% lower now than it was in 2022, according to Zumper. Along with each metropolitan area are its year-over-year and month-over-month rent changes, average rent price, and national rent ranking among the largest 100 US cities.

Persons: Zumper, Anthemos Georgiades Organizations: Business Locations: Sun

☆ How to make your money work for you over the next decade
▼ + stars: | 2023-11-28 | by ( James Faris | William Edwards | ) www.businessinsider.com time to read: +16 min

"If there is a regime shift, then what has worked could be quite different from what does work," McLennan said. That means the growth stocks that dominated for years may come back to earth in the mid-2020s. He also recommends that investors diversify away from growth stocks that thrived under low rates and instead broaden out to value-oriented names. Valuations explain 80% of a stock's returns over a decade, according to Bank of America. Smead sees energy in stocks in Canada also outperforming in the coming decade, as well as European banks.

Persons: —, Peter Bates, Rowe Price, Damanick Dantes, We're, Dantes, you've, He's, Matt McLennan, McLennan, Kimball Brooker, Morningstar, Nicola Stafford, Stafford, it's, Molina, Bates, Russell, Cole Smead, that's, Phillip Colmar, Colmar, Bob Doll, Doll, Smead, Michael Sheldon, Sheldon, who's, there's, Chris Chen, Chen, Roth Organizations: Service, Business, Global, International, McLennan, First Eagle Global Fund, Eagle Investments, Goldman, Asset Management, Stock, Molina Healthcare, Vanguard Value, Healthcare, Bank of America, Comerica Wealth Management, MRB Partners, Canadian, Crossmark Global Investments, BlackRock, Energy, P Bank ETF, RDM Financial, Social Security, Social, Insight Financial, Trust, IRA Locations: Canada, Colmar, United States, Canadian, Europe, Treasuries

☆ Make these 5 investments as stocks climb to record highs in 2024, according to top strategists at Bank of America and BMO Capital Markets
▼ + stars: | 2023-11-28 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

COVID), and active funds are hugging their benchmarks," Subramanian wrote in a note about her 2024 outlook. "We're bullish not because we expect the Fed to cut, but because of what the Fed has accomplished," Subramanian wrote. BMO Capital MarketsBofA analysts are calling for slower inflation, better profit margins, and improved efficiency, Subramanian wrote. BMO is less optimistic about energy stocks since they've lagged behind oil prices in the last year. Consumer discretionary is a strong bet if interest rate hikes are over and consumers keep spending, Subramanian wrote.

Persons: Brian Belski, Belski, Savita Subramanian, Subramanian, Bank of America BMO's Belski, he's, boomers, BofA Organizations: Bank of America, BMO Capital Markets, Business, BMO, Federal Reserve, " Bank of, Energy, BMO isn't Locations: Ukraine, Israel

☆ Home prices are tumbling in these 25 cities, giving hope to buyers while costing owners who bought at the peak up to $223 per day
▼ + stars: | 2023-11-25 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Many aspiring homeowners have been priced out of the market this year by lofty listing prices and crippling mortgage rates, and they just endured the worst quarter for home affordability since 1985 . Restrictive rates are crushing demand since buyers either can't afford a mortgage or don't want to pay up, while many owners are reluctant to sell since they'd then become buyers. A lack of willing buyers has put significant downward pressure on home prices for the first time since 2015 . "As mortgage rates choke buyers' attempts at homeownership, home prices ground to a halt in many cities, and they're dropping fast in others," Hopulele wrote. At that point, the Federal Reserve may be willing to cut interest rates, which would trickle down to mortgage rates .

Persons: Buyers, Andra Hopulele, they'd, Hopulele, Mike Skordeles, it's Organizations: Business, overpaying, Federal Locations: San Francisco, homeownership, Truist

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