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☆ Home prices are hitting new highs again, as high rates put the squeeze on supply
▼ + stars: | 2023-07-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Prices began dropping last summer, after the average interest rate on the 30-year fixed-rate mortgage more than doubled in just six months. Buyers may have simply gotten used to higher rates. The sharp jump in mortgage interest rates last year threw cold water on an overheated housing market, but it didn't last long. Even with rates still high, home prices are now gaining again, and the gains are accelerating with each new month. "Earlier this year I shared that I believed 6% mortgage rates were accepted as the new normal.

Persons: Walden, Andy Walden, Black Knight, Robert Reffkin, Estate, Knight Organizations: Black, Compass, National Association of Realtors, Redfin Locations: Midwest, Northeast, San Jose , California, San Diego , Los Angeles, San Francisco, Seattle, Austin , Texas

☆ Return to Office, Recession Fears End Wall Street's Hamptons Work-From-Home Party
▼ + stars: | 2023-07-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

It may seem counterintuitive, but the pandemic was like a brief visit to Shangri-La for Wall Street. For the first time in years, Wall Street has to sing for its supper. A return to the office also means a return to more-classic Wall Street social norms. Wall Street, for all its highfalutin personalities and big paydays, is an apprenticeship system. For Wall Street, the heart of the pandemic was a moment to consider what life would be like at a slower, more-nurturing pace.

Persons: You've, Crypto, Dealmaking, Goldman Sachs, me, Seth Klarman, Klarman, Lee Felty, Harrison, Felty, Jim Chanos, Chanos, Jamie Dimon, David Solomon wouldn't, Fenty, Goldman, Solomon, Wall, Young, It's, Al Mare, Topping Rose, Jean, Georges, Maison, Wall Streeter, Linette Lopez Organizations: Wall, JPMorgan, Hamptons, CNBC, Compass, Chanos, East Hampton, Citigroup, Bloomberg, SoHo Locations: New York, East, Manhattan, Long, Stocks, Bridgehampton, It's

☆ Housing data shows that 7% mortgage rates are the 'new normal,' says Compass' Robert Reffkin
▼ + stars: | 2023-07-06 | 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 EmailHousing data shows that 7% mortgage rates are the 'new normal,' says Compass' Robert ReffkinRobert Reffkin, Compass CEO, joins 'Squawk on the Street' to discuss the the current state of the housing market, the impact of Fed rates on mortgage activity, and increasing rate of all cash buyers.

Persons: Robert Reffkin Robert Reffkin Organizations: Compass

☆ Mortgage rates jump to 8-month high as blowout jobs data sets up Fed to stay hawkish
▼ + stars: | 2023-07-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The 30-year fixed mortgage rate jumped to 7.22% on Thursday. The 30-year fixed rate mortgage rose to 7.22%, according to data compiled by Mortgage News Daily, while the weekly Freddie Mac index reached 6.81%. Now, climbing mortgage rates have overturned a three-week streak of growth for mortgage demand, which has dropped 5% for the week. For months now, elevated mortgage rates have limited the amount of homeowners looking to sell. "About 78% of home shoppers planning to buy in the near future anticipate being priced out of the market if both home prices and mortgage rates continue to rise."

Persons: That's, —, Freddie Mac, Jerome Powell, Redfin Organizations: Service, Federal Reserve, Mortgage News, Compass

☆ German firm sees U.S. getting lion's share of 100 bln euro military fund
▼ + stars: | 2023-07-04 | by ( Alexander Hübner | ) www.reuters.com time to read: +2 min

Wiegand called on the government to use the 100 billion euro fund not only to plug short-term gaps in the German military's inventories but also to help develop technologies of the future. Renk, formerly a subsidiary of Volkswagen (VOWG_p.DE), is global leader in the production of gear boxes for tanks including the Leopard 2. The company, situated in the Bavarian town of Augsburg, makes about 70% of its sales from gear boxes for tanks and navy ships, the rest with gear boxes for civilian purposes such as compressors. Renk has booked orders totalling of 3.9 billion euros ($4.3 billion), including framework contracts, according to the CEO. Bankers estimate Renk's value to be around 2.5 billion euros in case of an IPO.

Persons: Berlin, Susanne Wiegand, embargoed, Wiegand, Triton, Renk, Alexander Hübner, Sabine Siebold, Rachel More, David Holmes Organizations: Renk, Volkswagen, VW, Bankers, Thomson Locations: MUNICH, U.S, Munich, Berlin, Germany, Bavarian, Augsburg

☆ Dodge Durango, Jeep SUVs push Stellantis second-quarter sales up 6.4%
▼ + stars: | 2023-07-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Higher sales of the Chrysler Pacifica minivan and Jeep Compass and Dodge Durango SUVs pushed Stellantis' second-quarter U.S. new vehicle sales up 6.4% from a year earlier. Stellantis reported second-quarter sales of 434,648 vehicles, up from 408,521 cars and trucks a year earlier. Stellantis' results come after other legacy automakers reported second-quarter sales increases, and electric vehicle makers Tesla and Rivian reported deliveries that topped analyst quarterly expectations. Honda Motor and Nissan Motor on Monday both reported double-digit second-quarter sales increases of roughly 45% and 33%, respectively, compared to a year earlier. Other automakers such as General Motors and Ford Motor are expected to report second quarter sales later this week.

Persons: Stellantis, Jeff Kommor Organizations: DETROIT –, Chrysler Pacifica minivan, Jeep Compass, Dodge Durango, Pacifica, Cox Automotive, Honda Motor, Nissan, Hyundai Motor, Motors, Ford Locations: Durango

☆ A Manhattan loft has been listed for $4 million, but you have to take on a tenant who's paying well below the area's average and has been there for decades
▼ + stars: | 2023-06-28 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

A loft for sale in Manhattan comes with a tenant who's paying well below the area's average. The current rent doesn't cover the common charges for the property, listed as $2,802 per month. According to the Compass listing, the tenant in place pays a monthly stabilized rent of $2346.21. The current rent doesn't even cover the maintenance and common charges for the property, listed as $2,802 per month. The sixth-floor apartment in the same building with five bedrooms sold for $9.5 million in February, City records show.

Persons: —, appraisers Miller Samuel, Douglas Elliman, Steven Hochberg, Miller Samuel, Hochberg Organizations: Service, Bloomberg, realtors, Compass Locations: Manhattan, Greenwich Village, New York City, Golenbock

☆ I've made 6 figures a year as a virtual assistant and now train others to do the same. Here's how I find the best-paying clients and avoid the big red flags.
▼ + stars: | 2023-06-28 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

For the last 15 years, I've been traveling the world full time as a digital nomad — 58 countries and counting. I first started as a virtual assistant; now I'm a virtual-assistant coach and recruiter and I've provided training to 27,000 learners across 170 countries. Stop seeking opportunities and start creating themWhen I started as a virtual assistant, I initially turned to gig sites to find work, but it was short-lived. Position your presence based on the types of clients you want to attractLet's say you're a virtual assistant offering podcast-management services. If you're already crystal clear on who you serve as a virtual assistant, you can intentionally spend time in places your clients are more likely to be.

Persons: Hannah Dixon, Dixon, —, It's, I've, I'm, you'll Organizations: Service Locations: Guanajuanto, Mexico

☆ I've made 6 figures a year as a virtual assistant and now I train others to do the same.nHere's how I find the best-paying clients and avoid the big red flags.
▼ + stars: | 2023-06-28 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

Hannah Dixon is a six-figure earning virtual assistant coach and recruiter. Dixon says referrals carry significant weight, more than anything else, in the virtual assistant business. I first started as a virtual assistant, now I'm a virtual assistant coach and recruiter and I've provided training to 27,000 learners across 170 countries. Position your presence based on the types of clients you want to attractLet's say you're a virtual assistant offering podcast-management services. Six-figure pricing requires a six-figure service, and this VIP service should start before you land the client.

Persons: Hannah Dixon, Dixon, —, It's, I've, I'm, you'll Organizations: Service Locations: Guanajuanto, Mexico

☆ Opinion: DeSantis is trying to climb the Trump wall
▼ + stars: | 2023-06-28 | by ( Opinion Patrick T. Brown | ) edition.cnn.com time to read: +7 min

The DeSantis plan, rolled out at a press conference at the Texas border Monday, lays out steps that should satisfy most Republican border hawks. His immigration plan showcases a candidate interested in effective policymaking beyond pure sloganeering, even if some major questions surround a few key details. The former President noted the similarities — “His plan is my plan,” Trump told Semafor and ABC News on Tuesday. Then, there are the ideas in DeSantis’ plan that have a harder time standing up to scrutiny. Similarly, cutting federal funding to non-governmental organizations that provide aid to those who cross the southern border would be less effective than it sounds.

Persons: Patrick T, Brown, Ron DeSantis, Donald Trump, DeSantis, ” Trump, Semafor, “, ”, —, Trump, parry, isn’t, doesn’t Organizations: Public Policy Center, Economic, Twitter, CNN, Florida Gov, Trump, Republican, Sunshine State, ABC, Republicans, PBS, NPR, Marist, Sun, Group, American, Facebook Locations: Washington , DC, Texas, Iowa, South Carolina, Florida, Mexico

☆ When mortgage rates hit 5% expect a flood of housing inventory, says Compass CEO Robert Reffkin
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhen mortgage rates hit 5% expect a flood of housing inventory, says Compass CEO Robert ReffkinRobert Reffkin, Compass CEO, joins 'Closing Bell Overtime' to discuss the latest housing data, the state of the Real Estate space, and more.

Persons: Robert Reffkin Robert Reffkin Organizations: Compass

☆ Here are Friday's biggest analyst calls: Meta, Apple, Uber, Target, SoFi, Nike, Amazon, GM and more
▼ + stars: | 2023-06-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said in a note Friday that it sees several reasons for share outperformance. Morgan Stanley upgrades Evotech to overweight from equal weight Morgan Stanley said the drug discovery and development company is well-positioned for artificial intelligence. As such we are upgrading to Market Perform with a $44 price target." Morgan Stanley reiterates Snowflake as overweight Morgan Stanley said it's bullish heading into the company's upcoming investor day. Barclays reiterates Uber as overweight Barclays raised its price target on Uber to $70 per share from $57 and says it's well-positioned.

Persons: Morgan Stanley, Apple, Stephens, KeyBanc, Wells, Armour, Wells Fargo, JPMorgan Chase, Valvoline, underperform SVB, Wayfair, Snowflake, it's, Uber, Roth, Bernstein, Jefferies Organizations: Deutsche Bank, Nike, Sovos Brands, UAA, Outsized NA, JPMorgan, Global Products, Securities, Bed, Barclays, Amazon, Citi, General Motors Locations: China, Italian, downgrades, EBITDA

☆ Opinion: ‘I believe there was peace’ at the end of Titan’s doomed final voyage
▼ + stars: | 2023-06-22 | by ( Opinion Mike Reiss | ) edition.cnn.com time to read: +6 min

Finding a sub once it’s lost is like dropping a quarter into Lake Erie and hoping to get it back. And the passengers on the Titan weren’t thrill-seekers — they weren’t skydivers or rich tourists who climbed Mount Everest so they could brag about it. There’s a toilet onboard, and it’s never been used.” And that turned out to be the case. I quickly became aware that we were in the middle of a crisis: We were lost on the ocean floor. But with this comforting thought, of course, comes sadness — for the passengers, for their families, for the dreams of the Oceangate sub company.

Persons: Mike Reiss, CNN —, Mike Reiss Tim P, —, Mount, I’ve, it’s, “, Oceangate, ”, Hamish Harding, Paul, Henri Nargeolet, Shahzada Dawood, Sulaiman Dawood, Rush, we’ve Organizations: CNN, Titan, Whitby, Stockton Rush, Twitter, Facebook, Sherpa Locations: Lake Erie, Iran, Iraq, North Korea, British, French

☆ Republicans Against Inequality
▼ + stars: | 2023-06-20 | by ( David Leonhardt | ) www.nytimes.com time to read: +2 min

Vance, the Ohio Republican, and Senator Elizabeth Warren, the Massachusetts progressive, have collaborated on a bill to claw back executive pay at failed banks. The two worked through the details through in-person conversations, weekend phone calls and late-night texts. Rubio this month published a book, “Decades of Decadence,” that criticizes the past 30 years of globalization. Tomorrow afternoon, these four Republican senators — Cotton, Rubio, Vance and Young — will speak at an event on Capitol Hill that’s meant to highlight the emergence of a populist conservative movement in economics. Cass is right about that: Income growth for most families has been sluggish for decades, trailing well behind economic growth.

Persons: J.D, Vance, Elizabeth Warren, Marco Rubio, Rubio, Todd Young, Tom Cotton of, Biden, — Cotton, Young —, ”, Oren Cass, Mitt Romney, Cass, ” Cass Organizations: Ohio Republican, Todd Young of Indiana, Capitol, Conservative, American Locations: Massachusetts, Marco Rubio of Florida, Tom Cotton of Arkansas

☆ If you're looking for a last-minute trip to Cape Cod during the 'busy' season, you might be in luck. Summer rentals are sitting empty.
▼ + stars: | 2023-06-19 | by ( Melia Russell | ) www.businessinsider.com time to read: +3 min

It's not too late to book a short-term vacation rental on Cape Cod this summer. Even as the vacation hot spot enters its busy season, locals are seeing the demand for vacation rentals soften. The occupancy rate is down 20% from last year, according to The Cape Cod & Islands Association of Realtors. After listing those homes on sites like Airbnb and Vrbo, the supply of vacation rentals is through the roof. The real estate group says the average daily rate has climbed to $619 up from $525 last summer.

Persons: It's, —, Airbnb, Insider's, Vrbo, Beth Teitell, Ryan Castle, John Greim, Annie Blatz Organizations: Service, Islands Association of Realtors, Boston Globe, Globe, Getty, Kinlin Grover Compass Locations: Cod, Cape Cod

☆ These stocks have 'sizeable upside' and are poised for a second-half breakout, analysts say
▼ + stars: | 2023-06-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

"Therefore, we think COMP represents one of the best margin upside stories in our coverage," he said. "Our conclusion is there is solid upside left both fundamentally in terms of upside vs consensus and subsequent stock upside for a few reasons," he said. "Reiterate OW- Still sizeable topline (and stock) upside left at elf," he said. elf Beauty- Morgan Stanley, overweight rating "Timeless Beauty; Reiterate OW- Still Sizeable Topline (and Stock) Upside Left at ELF. ... Our conclusion is there is solid upside left both fundamentally in terms of upside vs consensus and subsequent stock upside for a few reasons.

Persons: Compass Oppenheimer, Jason Helfstein, Helfstein, Morgan Stanley, Dara Mohsenian, Mohsenian, Mariana Perez Mora, PLTR, Perez Mora, Palantir, Baird Organizations: CNBC, Compass, TAM, Bank of America, AIP, Oppenheimer, PowerSchool Locations: FQ3

Boric's shock announcement was all the more surprising as no DLE technology has reached commercial production without the use of those ponds, sparking competition to be the first. "Given those demand projections, there's definitely need for more supply from DLE," said Jordan Roberts, a Fastmarkets lithium industry analyst. A customer aiming to produce 15,000 metric tons of lithium each year, for example, could buy three stackable IBAT lithium plants. Exxon has also held talks with EnergySource Minerals about licensing DLE technology, two of the people said. Many brine deposits have varied chemical compositions, meaning it's unlikely that one DLE technology will emerge as a global leader.

Persons: DLE, Ken Hoffman, Gabriel Boric, Eramet, Sunresin, John Burba, That's, Alec Lucas, Jordan Roberts, IBAT, Garry Flowers, Eli Horton, Gavin Rennick, Sinead Kaufman, Dave Snydacker, Steven Schoffstall, doesn't, Chris Doornbos, Ernest Scheyder, Veronica Brown, Claudia Parsons Organizations: . Geological, EV Battery Materials Research, McKinsey & Co, Minerals, Battery Metals, Rio Tinto, Battery Tech, Fastmarkets, Exxon Mobil, Chevron, Reuters, Exxon, EnergySource Minerals, Koch Industries, Ford, SLB's New Energy, Mining, Solutions, BNP, BMW, Breakthrough Energy Ventures, Lake Resources, Miners, General Motors, Canadian, Imperial Oil, Thomson Locations: CHARLES , Louisiana, Europe, Asia, North America, Rio, U.S, DLE, Louisiana, Arkansas, Salton, Salt, Chile, Schlumberger, Nevada, Argentina

☆ How to Find a Real Estate Agent
▼ + stars: | 2023-06-14 | by ( Aly J. Yale | ) www.wsj.com time to read: +15 min

According to the Association of Real Estate License Law Officials, more than three million people hold active real estate licenses in the U.S. That’s a lot of people with a range of experience and expertise. That’d be “knowledge,” says Philip Hordijk, founder of real-estate brokerage Leven Real Estate. A note of caution: Think hard before choosing a friend or family member to help with a real estate transaction. Search online directories—with careThere are plenty of third-party real estate sites that offer agent directories, too, including Realtor.com and Zillow. Real-estate broker vs. agentThere is also a differentiation between a real-estate agent and a real-estate broker.

Persons: Aly J, ”, Jonathan Rundlett, “, Philip Hordijk, Kimberly Jay, I’m, ” Jay, Jeremy Kamm, ” Kamm, —, Jesse Sheldon, don’t, ” Hordijk, Christian Ross, Völkers, Desiree Avila, Charles Rutenberg, Johnny, you’re, ” Ross, Bret Weinstein, ” You’ll, you’ve, Sellers, Hordijk Organizations: Yale, Association of Real, License, National Association of Realtors, Compass, Real, Engel, Exxon Mobil, Houston Association of Realtors, NAR, News Corp, Street, Realtors Locations: U.S, Leven Real Estate, New York, New York City, Seattle, Fort Lauderdale, Avila, Houston, Denver, In Texas

☆ A Los Angeles house that's badly in need of repairs and sits over a public bridge is on the market for $250,000. The agent said more than 40 groups showed up for an open house.
▼ + stars: | 2023-06-08 | by ( Amanda Goh | ) www.businessinsider.com time to read: +4 min

An LA apartment that sits over a bridge — or under, depending on where it's viewed from — is for sale for $245,950. Compass Real EstateThere's only one way to enter the one-bedroom, one-bathroom property, and that's via a staircase from the street. Compass Real EstateThis is the first time in 18 years that the house is on the market, per listing history. Compass Real EstateLee added that the owners are choosing to sell the property now "for personal reasons." There are currently 34 single-family homes for sale in the neighborhood, and the bridge house is the cheapest listing in the area.

Persons: Douglas Lee, —, Lee, he's, We've, hasn't Organizations: Service, Compass, — Locations: Angeles, Alhambra, Alhambra , California, LA

☆ 5 common survival myths that could get you killed in the wilderness
▼ + stars: | 2023-06-07 | by ( Gene Kim | Jessica Orwig | ) www.businessinsider.com time to read: +5 min

There are a lot of survival myths out there that could get you hurt, or even worse, killed. Getting outdoors this summer is great for your mental and physical health, but spending time in the wilderness can come with risks. Don't try to pick up or track snake either, if it bites you. Myth 3: If you're lost in the wild find a food supply immediately. So if you're trying to gain a sense of direction in the woods, don't use moss as your guiding north star.

Persons: —, Panish Shea, Boyle, Mayo, that's, you've, Moss, Clint Emerson, Emerson Organizations: Service, US Centers for Disease Control, National Park Service, NPS

☆ For Her New Play, Tori Sampson Revisited Her ‘Black Power Household’
▼ + stars: | 2023-06-02 | by ( Naveen Kumar | ) www.nytimes.com time to read: +1 min

After a year of moving between foster homes, the twins petitioned to attend an all-Black boarding school in Mississippi, where their independence was contingent on high achievement. “I was always yearning to understand what it would look like to have a family,” Sampson said. “I wanted to write a story where Huey P. Newton walks into a bar and changes the lives of the people there forever,” Sampson said of the Black Panther Party co-founder. She got the idea for the play, a blend of historical fiction and sitcom conventions, when she learned that Newton’s rise to prominence began with an unsolved mystery. Rallies ‌to “Free Huey” helped set off the Black Power movement.

Persons: orphanhood, Sampson, ”, “ I’m, “, ” Sampson, Huey, Newton, ‌ Newton, Huey ” Organizations: “, Black Panther Party Locations: Mississippi, Los Angeles, “, Oakland, Calif

Brookfield and DigitalBridge are leading opposing bidding consortia in the auction for privately held DigitalBridge, the sources said, adding an outcome is expected by next month. The terms of Compass' debt allow for it to be taken over by a new owner without it being refinanced, one of the sources said. The Deal reported in February that Compass Datacenters was exploring a sale. Compass Datacenters, Brookfield Infrastructure Partners and DigitalBridge declined to comment. During the same month, Brookfield Infrastructure also acquired freight container lessor Triton International Ltd (TRTN.N) for about $4.7 billion.

Persons: Dealmaking, Brookfield, Milana Vinn, Anirban Sen, Daniel Wallis Organizations: Brookfield Infrastructure Partners, DigitalBridge, RedBird Capital Partners, Ontario, Azrieli, Brookfield Infrastructure, Reuters, Triton International, Boca, Thomson Locations: Brookfield, Dallas , Texas, Data4, Boca Raton , Florida, New York

While buying a house can set you up for financial success, renting comes with its own benefits, like flexibility. If you can't afford a down payment or monthly payments, you may want to continue renting for now. Homeownership also costs more than just the monthly mortgage payment. This includes your mortgage, property taxes, mortgage insurance, homeowners insurance, and HOA fees, but not costs like utility bills. If monthly mortgage payments would be a financial strain, it could be better to keep renting for now.

☆ Factbox: Ford strikes multiple lithium deals to ramp up EV production
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

COMPASS MINERALS (CMP.N):Ford signed a five-year supply agreement to obtain battery-grade lithium carbonate from Compass' lithium brine development project in Ogden, Utah. Under the agreement, Compass Minerals will deliver up to 40% of its planned, phase-one battery-grade lithium carbonate to Ford once production begins. NEMASKA LITHIUM:Nemaska Lithium, owned by Investissement Québec and Livent (LTHM.N), will supply lithium products, including lithium hydroxide, to Ford over an 11-year period. ENERGYSOURCE MINERALS:EnergySource Minerals will supply lithium hydroxide produced at its Imperial Valley, California site which is expected to be operational in 2025. SOCIEDAD QUIMICA Y MINERA DE CHILE S.A. (SQM):Chile's SQM (SQMA.SN) and Ford have agreed to a long-term lithium supply agreement, the Chilean lithium miner said in a statement Monday.

☆ Mediobanca sells bad loan purchase business ahead of new plan
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

Banca IFIS (IF.MI) agreed to buy Revalea, a unit Mediobanca set up last year by separating purchasing from management of bad debts. It was the second deal announced by Mediobanca in days as it prepares to present a new business plan through 2026 on Wednesday. Revalea, with a staff of 22, holds 6.8 billion euros in unsecured bad loans, which have a net book value (NBV) of 256 million euros. However, by freeing the bank of bad loans, the deal will add around 10 basis points to core capital, it said. The acquisition will allow IFIS to achieve a bad loan purchase target of 30 billion euros in gross terms and 1.8 billion net set out under its 2022-2024 plan.

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