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Pretax profits from New York State’s securities industry totaled $27.6 billion during the six months of this year, an 82-percent rise above those of the same period in 2019 and the biggest six-month gain since 2009, according to a 22 October report from New York state comptroller Thomas DiNapoli. The industry’s profits for all of...

Is the building boom over? Building contractors are seeing more projects canceled than new ones started, and industry employment has fallen during the past 12 months, the General Contractors of America trade group reported in a 28 October press announcement. Three-quarters of contractors have had at least one scheduled project postponed or canceled in October,...

Although September housing sales were 20.5 percent more than those a year earlier and U.S. median home prices are at record levels, the housing boom may disappear as COVID cases diminish, the Wall Street Journal reported in a 23 October analysis. The boom is the result of three factors. First, as we had forecast when...

The number of signed contracts to buy existing homes dropped 2 percent in September from August, the National Association of Realtors reported. It was the first month-on-month decline since May, although the number of signed contracts remained 20.5 percent greater than a year earlier. Analysts blamed high prices, driven up by the shortage of houses...

Across the U.S., states could see a cumulative $424-billion deficit through 2022, according to Moody’s Analytics. The figure assumes there is no federal aid to states, that some degree of economic restrictions remain in force, and Medicaid expenses rise to cover the medical costs of people without jobs. Connecticut’s quick, drastic economic shutdown this spring...