Apartment rents are falling in key markets and increasing at their slowest rate in more than a year in others as the glut of flats is taking longer to work through than had been expected, the Financial Times reported.
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SEPTEMBER U.S. HOME SALES RETAIN AUGUST’S STRONGER PACE
In September, the National Association of Realtors’ (NAR’s) pending home sales index returned a reading of 74.8, the same as August’s pace, which rose from 71.8 in July.
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FED CUTS RATE, WILL RE-ENTER THE BOND MARKET
By a vote of 10 to 2, the U.S. Federal Reserve’s Open Market Committee cut its policy interest rate by a quarter point on 29 October, dropping it to 4 percent, its lowest level in three years.
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NEW POLL CONFIRMS CONSUMERS’ DARK MOOD
The lingering trade war and government shutdown dragged consumers’ outlook lower last month, The Conference Board’s most recent poll found.
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MARKETS’ ‘FRAGILITY EVENTS’ REACH A RECORD NUMBER
The number of days this year on which individual companies’ stock values have gained or lost $100 billion or more reached a record 119 last week, the Financial Times reported.
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FED SLIPS $29.4 BILLION INTO CASH-STARVED U.S. BANKING SECTOR
In the wee hours of 31 October, the U.S. Federal Reserve quietly passed $29.4 billion in fresh cash to the U.S. banking system through an expansion of overnight repurchase agreements (repos).
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ZOMBIE CORPORATIONS ARE WALKING THE LAND
The number of “zombie” companies—those whose operating income is too small to cover interest payments on their debts—has reached its highest since early 2022.
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PAY GROWTH SLOWS FOR AMERICAN WORKERS
Aside from a post-COVID spurt, real income for U.S. workers in their prime earning years ages 25 to 54 is growing at its slowest pace since the economy began to recover from the Great Recession more than a decade ago, the JPMorgan Chase Institute reported.
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NO CORRELATION BETWEEN WALL STREET, MAIN STREET: AMERICANS LIVE PAYCHECK TO PAYCHECK
A newly released report found that 48 percent of employed Americans spend half their paycheck within 48 hours of receiving their checks, showcasing just how financially strapped many in the country are, even while stocks are trading near all-time highs.
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TRUMP TRIES TO SABER-RATTLE, SAYS U.S. WILL BEGIN NUCLEAR TESTING, CITING THREAT FROM RUSSIA AND CHINA
President Donald Trump posted on social media last week that the U.S. has more nuclear weapons than any rival and bragged that they are in prime condition—but due to “testing program[s]” in other countries, he said he ordered the Department of War “to start testing our Nuclear Weapons on an equal basis.”