People who relocated during the 12 months ending 30 June moved a median distance of 50 miles from their previous residence, according to a National Association of Realtors (NAR) survey of 4,850 home buyers.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Nov 8 2022
CONSUMER CONFIDENCE IN HOUSING MARKET SINKS TO NEW LOW
In October, only 16 percent of consumers said they think now is a good time to buy a home, a monthly survey by the Federal Home Loan Mortgage Corp. (Fannie Mae) found.
STRONG JOBS REPORT FUELS FEARS OF ANOTHER SHARP FED RATE HIKE
In October, U.S. businesses took on another 261,000 workers, beating analysts’ estimate of 200,000 but also booking the lowest monthly pace of hiring since December 2020.
CENTRAL BANKS ARE GRABBING GOLD
The world’s central banks stockpiled an additional 399 tons of gold in this year’s third quarter, about twice the previous quarterly record, the World Gold Council reported.
FED HIKES RATE 75 BASIS POINTS: AS FORECAST, SMALLER RISES MAY COME SOON
As we noted, we got it half wrong. Since “It’s the economy, stupid,” we had forecast that President Joe Biden would pressure the Federal Reserve not to raise interest rates 75 basis points last week to help boost the equity markets and voter sentiment prior the mid-term elections.
MORE THAN A THIRD OF SMALL BUSINESSES STRUGGLE TO PAY THEIR RENT
In October, 37 percent of U.S. small businesses were unable to pay all of their rent on time, according to an October survey of 4,789 businesses by Alignable, a small-business network with seven million members.
ECONOMIC UPDATE – MARKET OVERVIEW
Today is Election Day in America, the country that John Pilger, who wrote “SILENCING THE LAMBS,” said overthrew or attempted to overthrow 50 governments that were mostly democracies, in his lifetime.