Pending home sales drop to a record low, even worse than during the financial crisis

Pending home sales drop to a record low, even worse than during the financial crisis, per CNBC. Pending home sales, a gauge of signed contracts on existing homes, declined by 1.5% in October compared to September. This marks the lowest level since the National Association of Realtors started tracking

The U.S. is $33.7 trillion in debt, a total that exploded by 45% since the Covid pandemic in early 2020

The U.S. is $33.7 trillion in debt, a total that exploded by 45% since the Covid pandemic in early 2020, according to Treasury Department data. Of that total, $26.7 trillion is owed by the public. $7.6 trillion of US government debt will mature in the next

Americans who bought large rural homes during COVID are now selling up and returning to cities as more employers end work from home rules

Americans who purchased expansive rural homes during the pandemic are now putting them on the market and returning to urban areas as companies rescind work-from-home policies. When the COVID-19 pandemic struck in 2020, more than 61 percent of people transitioned to remote work, prompting homeowners to seek

Converting 10% of US strip malls into housing could create 700,000 new homes

Converting 10% of US strip malls into housing could create 700,000 new homes, per BI. Simultaneously, various communities nationwide grapple with a housing affordability crisis, primarily fueled by a shortage of homes. To address both challenges, urban planners and developers are advocating for a solution: repurposing strip malls into

Bill Gates says a 3-day work week where 'machines can make all the food and stuff' isn't a bad idea

Bill Gates says a 3-day work week where 'machines can make all the food and stuff' isn't a bad idea, per BI. Bill Gates envisions the possibility of a 3-day work week made feasible by technology, according to his recent appearance on Trevor Noah&

Tim Cook of Apple, $AAPL, has told Dua Lipa he wants the next CEO of Apple to be an internal hire

Tim Cook of Apple, $AAPL, has told Dua Lipa he wants the next CEO of Apple to be an internal hire, per BI. Read full article: https://www.businessinsider.com/tim-cook-wants-next-apple-ceo-internal-hire-dua-lipa-2023-11 While Apple CEO Tim Cook has no immediate

The mortgage rate has to fall to 5.5%, or the median priced home has to fall by 22%, or the median income has to increase by 28%, for housing to become affordable, per Moody's

"The mortgage rate has to fall to 5.5%, or the median priced home has to fall by 22%, or the median income has to increase by 28%, for housing to become affordable," per Moody's. The average monthly new-mortgage payment is now 52% higher than

X is now licensed for payment processing in a dozen U.S states

X is now licensed for payment processing in a dozen U.S states, per TC. Elon Musk is advancing his plans to transform the platform formerly known as Twitter, now referred to as X, into an all-encompassing application that incorporates its own payment system. The company secured three additional

The US is running out of money for Ukraine, White House has said

The US is running out of money for Ukraine, White House has said per AP. In October, President Joe Biden's administration requested nearly $106 billion from Congress to fund extensive plans for Ukraine, Israel, and U.S. border security. However, the Republican-controlled House, with a slim majority,

America’s first congestion pricing program is taking shape in New York City, where drivers could pay $15 to enter some of the busiest streets in Manhattan as soon as next spring

America’s first congestion pricing program is taking shape in New York City, where drivers could pay $15 to enter some of the busiest streets in Manhattan as soon as next spring, per NYT. The detailed plan outlines the tolls they hope to implement in New York City, aiming to

Retailers that cater to the upper middle class — including Apple, Coach and Nordstrom — have seen their biggest sales drop in two years

Retailers that cater to the upper middle class — including Apple, Coach and Nordstrom — have seen their biggest sales drop in two years, per Bloomberg. Makers of refrigerators, boats and teeth straighteners say US consumers are no longer buying big-ticket items, per Bloomberg. Manufacturers of various goods, from refrigerators to

Nearly a million Americans got double-digit raises as a result of unions this year

Nearly a million Americans got double-digit raises as a result of unions this year, per CNN. Read full story: https://www.cnn.com/2023/11/21/business/big-paydays-union-members/index.html The frequency of substantial wage increases is on the rise, with over 700,000 workers securing

Lobbyists have killed the White House plan to save homebuyers thousands of dollars

Lobbyists have killed the White House plan to save homebuyers thousands of dollars. A proposed program that had the potential to save homeowners significant amounts on closing costs has been halted due to opposition from industry lobbyists and lawmakers. The Biden administration's plan aimed to eliminate title insurance

The only good thing right now about the US housing market is that it can't get much worse from here, per Redfin CEO

The only good thing right now about the US housing market is that it can't get much worse from here, according to Redfin CEO Glenn Kelman. The housing market has hit 'rock bottom' and the sales slump will last a long time, per Redfin CEO. The

$7.6 trillion of US government debt will mature in the next year

$7.6 trillion of US government debt will mature in the next year, per BI. The U.S. government's debt will rise by $5.2 billion, every single day for the next decade. Drawing upon data sourced from the Congressional Budget Office, an autonomous federal agency, Harnett dissected

Israeli authorities are investigating claims by U.S. researchers that some investors may have known in advance of a Hamas plan to attack Israel on Oct. 7 and used that information to profit from Israeli securities by dramatically increasing short selling

Israeli authorities are investigating claims by U.S. researchers that some investors may have known in advance of a Hamas plan to attack Israel on Oct. 7 and used that information to profit from Israeli securities by dramatically increasing short selling, per Reuters. Read full story: https://www.reuters.com/

Someone is launching a 4x S&P 500 ETN with the ticker $XXXX, which would be a leveraged amount record in the US

omeone is launching a 4x S&P 500 ETN with the ticker $XXXX, which would be a leveraged amount record in the US, per Eric Balchunas of Bloomberg. Other ETFs have launched recently, per Bloomberg. A specialized issuer is introducing a biotechnology exchange-traded fund (ETF) with a focus

Spotify, $SPOT, is laying off 17% of its employees in an attempt to cut costs, thereby firing 1,500 people

Spotify, $SPOT, is laying off 17% of its employees in an attempt to cut costs, thereby firing 1,500 people. "Economic growth has dramatically slowed, and the cost of capital has increased. Spotify is not immune to these economic realities," Ek wrote in a letter to employees posted

Biden gets community noted on saying Inflation was 0% last month

Biden said: Inflation was 0% last month – and our economy grew by more than 5% last quarter. Bidenomics. The community note said: Tweet is referring to the PCE index, % change from the preceding month. Inflation is normally assessed annually (12 months) however, & the Fed’s PCE goal is 2%

Elon Musk has said that, "AI is more dangerous than nuclear bombs"

Elon Musk has said that, "AI is more dangerous than nuclear bombs." He contended that any entity posing physical danger to the general public should be regulated. Cars undergo extensive regulation. Communications are subject to rigorous regulation. Aircraft are heavily regulated. The overarching philosophy behind regulation is that

The brands that have stopped advertising on X

In November, these are some of the groups that have stopped advertising on X, per NYT: - Apple, $AAPL - Disney, $DIS - Paramount, $PARA - Lionsgate - IBM, $IBM - Comcast, $CMCSA - NBC Universal - The European Commission - Walmart, $WMT - Ubisoft - Axios - TechCrunch "We have chosen not to advertise on X as we have identified

“I've done more for the environment than any single human on earth. What I care about is the reality of goodness, not the perception of it - and what I see all over the place is people who care about looking good while doing evil," Elon Musk has said

“I've done more for the environment than any single human on earth. What I care about is the reality of goodness, not the perception of it - and what I see all over the place is people who care about looking good while doing evil," Elon Musk has

You're probably not getting a raise this year, and it's for the good of the economy, per BI

You're probably not getting a raise this year, and it's for the good of the economy, per BI. 67% of Americans say their income isn’t keeping up with inflation, and 42% say their standard of living is declining, per Empower. Gen Z plans to retire

Netflix, $NFLX, gave $11 million to filmmaker Carl Rinsch

Instead of utilizing the $11 million fund received from Netflix for his science fiction series, director Carl Rinsch diverted all the money into gambling and incurred a loss of nearly $6 million through futures trading. However, he managed to transform the remaining $4 million of the grant into $27 million

Walmart, $WMT, has stopped advertising on X

"We have chosen not to advertise on X as we have identified other platforms that offer better opportunities to connect with our customers," stated a Walmart representative. X, formerly known as Twitter, did not respond immediately to a request for comment. The platform has been grappling with retaining