Despite record low mortgage rates, homebuying affordability is on the decline. getty Despite hovering around their all-time low for several months now, it looks like mortgage rates have done about all they can for housing affordability. According to a new report, skyrocketing home prices have now outstripped their power, and overall homebuying affordability is now
Month: October 2020
Pedestrians walk past commercial real estate in Manhattan. Michael Nagle | Bloomberg | Getty Images Decidedly weak quarterly earnings reports from major apartment real estate investment trusts this week paint a bleak picture for some of the largest urban rental markets. The coronavirus pandemic has caused thousands of apartment dwellers to seek safer, larger, single-family
8 Countries Stricken With Rampant Inflation See Bitcoin Prices Touch All-Time Highs The price of bitcoin touched new highs in 2020 and a number of supporters are optimistic that the crypto asset’s value will drive higher. In addition to this year’s bitcoin price high, around eight different countries have seen bitcoin touch … read more.
By Richard Eisenberg, Next Avenue Managing Editor getty Jeff Gothelf, a Barcelona-based (by way of New Jersey), 47-year-old business consultant, author and public speaker, believes we can make ourselves “forever employable” if we follow his advice. He’s written how to do it in “Forever Employable,” his new book. Frankly, I was skeptical about the title.
Chicago’s COVID-19 fiscal wounds spurred Moody’s Investors Service to move its outlook to negative on the city’s already-junk general obligation rating. While shifting the outlook to negative from stable, Moody’s affirmed the Ba1 rating it assigns to $3.7 billion of GOs. It cut the city to speculative grade in 2015. The city has not asked
Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – The jewelry luxury good markets’ biggest deal in history is back on as famed Tiffany has agreed to a lower buy out.
Even if a large spending package passes in the next few days or shortly after the election, it will not have the inflationary impact markets expect… by Jim Rickards via Daily Reckoning Investors have been hearing for years that “interest rates are near all-time lows,” and “rates have nowhere to go but up,” and finally,
LVMH agreed to acquire Tiffany & Co at a lower price, putting an end to the battle between the two luxury goods giants over the impact of the coronavirus pandemic. Louis Vuitton owner LVMH will buy Tiffany (TIF) for a purchase price of $131.50 per share down, from the $135 proposed originally, the two companies
Take a look at some of the biggest movers in the premarket: Comcast (CMCSA) – The NBCUniversal and CNBC parent reported quarterly profit of 65 cents per share, 13 cents a share above estimates. Revenue beat forecasts as well. Comcast added 663,000 broadband customers during the quarter, and said its Peacock streaming service signups had
(CNSNews.com) – The debt of the federal government topped $27 trillion for the first time on Thursday, October 1, when it climbed from an opening balance of $26,945,391,194,615.15 to a closing balance of $27,026,921,935,432.41, according to data published by the U.S. Treasury Department. The table below from the Treasury Department’s “Debt to the Penny” page shows
Credit Karma’s promise is to provide you with your credit score and credit report for free. But is that really worth giving up your personal and financial information? Is Credit Karma giving you precisely the same information that a lender will check if you’re applying for a mortgage or a car loan? And, for that matter, is it
The European Central Bank has left its monetary policy unchanged and decided not to inject more stimulus into the eurozone economy, despite a fresh surge in coronavirus infections triggering growing restrictions on activity in some of the bloc’s largest economies. The ECB kept its deposit rate at minus 0.5 per cent and held its emergency
When the streets of Hong Kong were filled with protesters last year, being an Asia-focused lender bank did not sound very appealing. This year, it has helped UK-based Standard Chartered beat earnings expectations, even as it reported a 40 per cent drop in third quarter pre-tax profits to $745m. Chief executive Bill Winters struck an
The New York Stock Exchange in lower Manhattan in New York City. Spencer Platt | Getty Images Earnings hopes wilt as fresh Covid outbreak throws 2021 reopening in doubt. That’s the story of earnings season so far. It’s the one word investors didn’t want to hear: lockdown. Never mind it’s mostly in Europe, and only partial. ”Lockdown light”
Before 2020, most firms used digital technology as a client retention strategy; those that really embraced digital used it to create new revenue streams, attract new clients with new offerings and generate value for their firms. Then came the coronavirus, forcing the hands of all wealth managers to expedite their efforts. And, to different extents,
Fidelity Investments — one of the largest asset managers in the world — continues to expand its global reach in the cryptocurrency industry through its dedicated crypto subsidiary. According to an Oct. 29 Bloomberg report, Fidelity Investments’s crypto branch Fidelity Digital Asset Services has partnered with a Singaporean startup Stack Funds to expand its custody
The Atmos team, including CEO Nicholas Donahue (third from left). Atmos Atmos, a new start-up that makes it easier to build custom homes, has raised $4 million at a $25 million valuation, in a round led by Khosla Ventures. A graduate of Y Combinator, the company’s roster of investors also includes Sam Altman, Adam Nash,
PRESS RELEASE. NEW YORK/PARIS – October 29, 2020 – Bitcoin.com Exchange, one of the leading authorities in cryptocurrency exchanges announces the launch of the Atari Token (ATRI) public sale today at 12:00 UTC. The entertainment industry is at a point where to remain competitive, one must start thinking on future developments in payments and community
Illinois Gov. JB Pritzker answers questions from the media during his daily press briefing on the … [+] COVID-19 pandemic from his office at the Illinois State Capitol, Friday, May 22, 2020, in Springfield, Ill. (Justin L. Fowler/The State Journal-Register via AP, Pool) ASSOCIATED PRESS It was going on two years ago, back in February
New Puerto Rico Oversight Board member Justin Peterson said he expected the next fiscal plan for the island will include the payment of debt service and will define essential services. “I would simply highlight the dysfunctionality of the [board’s] approach to date, which has been to use the fiscal plan and the lack of progress
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) - Gold prices remain under pressure as the U.S. economy saw a sharper than expected recovery in the third quarter, according to
If you thought the possibility of a national mask mandate was bad, you probably won’t like the idea of martial law: Coming soon to a city near you… by Mac Slavo of SHTFplan Texas Governor Greg Abbott has ordered 1000 troops to help dissolve “post-election disturbances.” With only one week to go, many political ruling
Shares in Teladoc (TDOC) are sinking 4.4% in Thursday’s pre-market trading despite the telehealth company reporting a solid top and bottom line beat. Specifically, Q3 Non-GAAP EPS of -$0.13 beat consensus by $0.18. Meanwhile revenue of $288.81M more than doubled year-over-year (Y/Y), topping Street estimates by $6.64M, with non-GAAP EBITDA of $39.5M ( up338.9%). However GAAP
Here are the stocks making headlines in extended trading: Pinterest — The social media stock soared 30% after reporting 49% revenue growth in the third quarter. The company reported 13 cents adjusted earnings per share and $443 million of revenue. Analysts surveyed by Refinitiv were looking for 3 cents in earnings per share and $383.5
via mishtalk: Unemployment insurance varies widely state by state. Those with expiring benefits are in serious trouble. Confusing Array of State and Federal ProgramsMy chart is modified from CBPP Center on Budget and Policy Priorities Policy Basics: How Many Weeks of Unemployment Compensation Are Available? Where I show two numbers, the first number is regular state unemployment
Although the process by which new cryptocurrency tokens or coins are generated is called mining, it bears little resemblance to the work done by those who physically mine for precious metals like gold. The comparison does hold, however; digital currency miners use computers to solve complex mathematical problems and they are rewarded for their work with
CNBC’s Jim Cramer said he sees positives for investors after steep market declines Wednesday as Wall Street grew further concerned about the coronavirus pandemic. “I recognize the carnage, but I do think the carnage is reversible,” Cramer said Wednesday on “Closing Bell,” after the Dow Jones Industrial Average gave up 943 points, or 3.4%, in
Peter Wells in New York The US reported its third-biggest one-day jump in coronavirus cases, and more than 1,000 deaths, on Wednesday. Adding to the worrying figures, a record number of states now have higher levels of patients hospitalised with coronavirus compared than four weeks ago. A further 78,661 people tested positive, according to Covid
The chief executive of Unibail-Rodamco-Westfield, Europe’s largest shopping centre owner, is confident that shareholders will back plans for a controversial capital increase despite efforts by a French billionaire and the property group’s former boss to block it. Christophe Cuvillier has been pressing his case with investors since telecoms tycoon Xavier Niel and real estate investor
Tax-efficient funds with the best returns of the decade managed to outpace the broader industry. But does that mean it’s a good long-term strategy? The 20 mutual funds and ETFs with tax-cost ratios lower than their peers generated an average 10-year gain of 14.89%, according to Morningstar Direct data. So far this year, the same
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