Unusual Whales

An all time high of Americans spend more than half or more of their income on rent

An all time high of Americans spend more than half or more of their income on rent, per NYT. The average monthly mortgage payment is a whopping 52% higher than the average monthly rent on a house or apartment, the highest amount since the 2008 housing crash, per WSJ. Most

Bill Gates has said that generative AI has plateaued, and says GPT-5 will not be any better

In an interview with the German business newspaper Handelsblatt, the 67-year-old expressed his belief that there are ample reasons to think that GPT technology has hit a plateau. Gates acknowledged the possibility of being mistaken and diverged from the views at OpenAI, stating that, contrary to the expectations

Restaurant prices are up 24% since January 2020

Restaurant prices are up 24% since January 2020, per Bloomberg. A pound of ground beef now costs $5.23 on average, up from $3.89 in January 2020, and prices for fresh fruits and vegetables are nearly 14% higher, per Bloomberg. For several years, Americans have grappled with the financial

40% of Americans have delayed or skipped needed health care in the past year because they couldn’t afford it

40% of Americans have delayed or skipped needed health care in the past year because they couldn’t afford it, per Bloomberg. Approximately 57% of individuals stated that at least one-tenth of their monthly budget is allocated to healthcare expenses. Among those covered by employer-sponsored health insurance, the

The U.S. can’t handle the ‘silver tsunami’ of millions of baby boomers needing housing in their retirement years

The United States is facing a significant challenge in providing adequate housing and care for its aging population, according to a new report from Harvard University’s Joint Center for Housing Studies. The study warns that without sufficient government assistance, many older adults may have to forego necessary care or

A pound of ground beef now costs $5.23 on average, up from $3.89 in January 2020, and prices for fresh fruits and vegetables are nearly 14% higher

A pound of ground beef now costs $5.23 on average, up from $3.89 in January 2020, and prices for fresh fruits and vegetables are nearly 14% higher, per Bloomberg. For several years, Americans have grappled with the financial strain of record-high inflation. Newly released data exposes the

U.S. Supreme Court is pondering the meaning of ‘income’ in tax dispute

U.S. Supreme Court is pondering the meaning of ‘income’ in tax dispute, per CNBC. U.S. Supreme Court justices displayed reluctance to overturn a tax affecting Americans who have invested in certain foreign corporations. The case revolves around the interpretation of "income" and could impact Democratic lawmakers&

Investors bought 1 in 5 homes in Boston area with no intention of living in them

Investors bought 1 in 5 homes in Boston area with no intention of living in them, per CBS. See full article: https://www.cbsnews.com/boston/news/real-estate-investors-greater-boston-housing-market/ In Boston, the dream of homeownership is a reality for some but appears unattainable for many

US consumers are spending at record levels, and economists are mystified, struggling to forecast an end point

Perplexed and grappling with forecasting challenges, economists are witnessing a remarkable trend in American consumer behavior amid elevated interest rates, reduced savings, and persistent inflation. Despite these economic stressors, US consumers have displayed unrestrained spending habits. Black Friday saw a 1.1% increase in sales at physical stores compared to

Elon Musk is planning to start a university in Austin, Texas

Elon Musk is planning to start a university in Austin, Texas, per Bloomberg. The charitable organization, named The Foundation, is set to utilize a $100 million donation from Musk to establish and launch a primary and secondary school in Austin, with a specific emphasis on science, technology, engineering, and math

The Federal Reserve for FOMC have continued to pause rates

The Federal Reserve for FOMC have continued to pause rates. The Federal Reserve has opted to keep interest rates unchanged at its year-end meeting but conveyed that it has concluded its series of interest rate hikes in the significant battle against inflation. Additionally, the Fed hinted at the possibility

Home sellers in Northern California has sued Re/Max, Keller Williams and other national real estate brokerages

Home sellers in Northern California has sued Re/Max, Keller Williams and other national real estate brokerages and realtor trade associations, accusing them of conspiring to artificially inflate the commissions paid to buyers' brokers, per Reuters. The plaintiff, a woman from Marin County, initiated the lawsuit representing a proposed

The monthly headline CPI exhibited a 0.1% increase, meeting expectations and surpassing October's 0.0%

In November, the Consumer Price Index (CPI) aligned with economists' predictions, registering a headline inflation rate of 3.1%, a slight decrease from the previous month's 3.2%. The monthly headline CPI exhibited a 0.1% increase, meeting expectations and surpassing October's 0.0%. The

California is likely to see a $68 billion deficit in its next fiscal year as income tax revenue plummets

California is likely to see a $68 billion deficit in its next fiscal year as income tax revenue plummets, per Bloomberg. California is anticipated to confront a staggering $68 billion deficit in the upcoming fiscal year, reflecting a substantial decline in income tax revenue. This projection, marking the second consecutive

Ukraine could lose its war with Russia if the U.S. delays military aid

Ukraine could lose its war with Russia if the U.S. delays military aid. The chief of staff for Ukrainian President Volodymyr Zelenskyy, Andriy Yermak, expressed concern that if the United States delays military aid to Ukraine, there is a significant risk that the country could lose its war against

Alcohol taxes aren't high enough, the World Health Organisation has said

Alcohol taxes aren't high enough, the World Health Organisation has said. The World Health Organization (WHO) called on governments to raise taxes on alcoholic beverages and extend them to currently exempt products, such as wine in certain European nations. The WHO also recommended higher taxes on sugary drinks,

Banks will eventually start to impose higher interest rates on farmers and rural businesses that aren’t achieving satisfactory greenhouse gas reductions

Banks will eventually start to impose higher interest rates on farmers and rural businesses that aren’t achieving satisfactory greenhouse gas reductions, Banks such as Rabobank have already introduced sustainability-linked loans, necessitating clients to commit to specific targets, which might involve emissions, according to Lara Yocarini, global head of

Tipping once rewarded good service; now it determines how consumers are treated

Tipping once rewarded good service; now it determines how consumers are treated, per CNBC. Per CNBC Tipping has become a commonplace, especially in the food and hospitality industry, and although it's a culture, a recent survey by Bankrate found that 30% of Americans think that tipping has gotten

The housing market is so tough that divorced couples are still living together

The housing market is so tough that divorced couples are still living together, per WSJ. Meanwhile, 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

"You need to earn six figures to afford a starter home," per CNBC

"You need to earn six figures to afford a starter home," per CNBC. Median house price in October decreased 17.6% to $409,300 from year ago. Read full article: https://www.reuters.com/markets/us/us-new-home-sales-fall-more-than-expected-october-2023-11-27/

Americans ditched big cities during the pandemic; now many are regretting it

Americans ditched big cities during the pandemic; now many are regretting it, per BI. Since the onset of last year, a constant stream of news headlines, Reddit discussions, and market research polls has unveiled a significant portion of individuals who made significant life changes during the pandemic, only to express

38% of Europeans say they are no longer able to have three meals a day on a regular basis

38% of Europeans say they are no longer able to have three meals a day on a regular basis. The second European Barometer on Poverty and Precariousness delved into Europeans' purchasing capabilities, revealing a decline over the past three years. A majority of respondents reported skipping meals and facing

The Chinese military is ramping up its ability to disrupt key American infrastructure, including power and water utilities as well as communications and transportation systems

The Chinese military is ramping up its ability to disrupt key American infrastructure, including power and water utilities as well as communications and transportation systems, per the WaPo. The recent cyber intrusions seem to be part of a broader military initiative named “Volt Typhoon,” which aims to target and disrupt

Millionaires are flocking back to New York City, as residents earning under $172,000 flee

Millionaires are flocking back to New York City, as residents earning under $172,000 flee, per BI. Read full article: https://www.msn.com/en-ca/money/markets/millionaires-are-flocking-back-to-new-york-city-as-people-making-less-than-172-000-move-out/ar-AA1l4V6z A recent report

Bernie Sanders has said: The Boomer generation needed just 306 hours of minimum wage work to pay for four years of public college

Bernie Sanders has said: The Boomer generation needed just 306 hours of minimum wage work to pay for four years of public college.Millennials need 4,459. The economy today is rigged against working people and young people. In October, inflation showed no change compared to the previous month, offering