Nobel Prize-winning economist Joseph Stiglitz has criticized the Federal Reserve’s monetary policy tightening and its impact on inflation. Stiglitz argues that the Fed needs to make a significant interest rate cut to address the inflation problem that has been exacerbated by the central bank’s actions. He emphasizes the importance of normalizing interest rates but believes
Real Estate
The real estate market is currently experiencing a shift in dynamics, with the supply of homes for sale increasing at a rapid pace. According to a recent report from Realtor.com, active listings in August were up by 36% compared to the same month last year, marking the 10th consecutive month of annual growth. Despite this
The buy-to-let market in London is facing a crisis as landlords are rushing to sell their properties amidst anticipated tax hikes from the U.K. Labour government. Recent data published by property portal Rightmove has shown that almost one-third of homes currently for sale in the capital were previously rented out. This trend is not limited
In recent weeks, the mortgage market has seen a significant shift towards refinancing, with interest rates declining for the fifth consecutive week. According to the Mortgage Bankers Association, total mortgage application volume increased by just 1.6% last week compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages also saw a
China’s housing market continues to struggle despite various government stimulus efforts. JPMorgan economist Haibin Zhu believes that these measures have been inadequate in supporting the sector. Home prices are still facing downward pressure, with projections suggesting that stability may not be achieved until 2025 at the earliest. Recent data released by China Index Academy paints
The Rupert Murdoch-owned REA Group has recently announced its consideration of a takeover offer for the U.K. property portal Rightmove. This move reflects the company’s ambition to create a global digital real estate business. The Australian property listings company, controlled by Murdoch’s News Corp, is evaluating the option of a cash and share offer for
In recent months, the US real estate market has seen home prices soar to unprecedented levels, reaching the highest point ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. Despite a slowdown in the pace of annual gains, prices nationally were still 5.4% higher than the previous year, showcasing the ongoing demand for
In recent times, the concept of ownership has been undergoing a significant shift among Americans, driven by various factors such as affordability and changing lifestyles. According to a report by Intuit Credit Karma, more individuals are opting to rent a wide range of products and services, including cars, apartments, clothing, and furniture. The rental industry
The city of Manhattan, New York, is notorious for its sky-high real estate prices, with a median price per square foot reaching $1,500 according to a report by My Dolce Casa. This exorbitant cost of living often leaves residents with limited options when it comes to purchasing property in the city. However, looking beyond the
Buying a home has long been considered a cornerstone of the American Dream, but in recent times, it has become less affordable for many individuals. The combination of higher mortgage rates and a shortage of available houses on the market has resulted in elevated prices, creating a financial strain for potential buyers. The median sales