Workers are returning to companies’ central offices but not in the numbers that pertained to before the COVID War. There is “dimming hope that office buildings will ever refill,” The Wall Street Journal noted.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Nov 22 2022
Since the Internet Revolution began in the 1990s, major technology firms have gobbled up prime office space in Austin, Baltimore, Boston, Detroit, Nashville, Los Angeles, New York, San Diego, San Francisco, and other centers of innovation.
In the week ending 17 November, the average U.S. interest rate for a 30-year, fixed-rate mortgage was 6.61 percent, the Federal Home Loan Mortgage Corp. (Freddie Mac) reported, falling from 7.08 percent the week before and plunging at the steepest pace since 1981.
In October, the number of existing U.S. homes sold declined for the ninth consecutive month, dropping by 5.9 percent from September and down 28.4 percent from a year earlier, the National Association of Realtors (NAR) reported.
Kohl’s, Macy’s, and Target all reported business sagging in this year’s third quarter.
As part of a plan to restore U.S. manufacturing and shift to cleaner energy sources, in August president Joe Biden signed into law the Inflation Reduction Act which includes two key measures.
In the gambler’s world, reality does not count.
Week after week, from the International Monetary Fund, World Bank, Organization for Economic Cooperation and Development, etc., we report on their ongoing economic downgrades across the globe... yet equity markets have not crashed and many keep rising.