The Bank of America Institute released a report last week that found nearly 24 percent of households in the U.S. are considered to be living paycheck to paycheck, or homes that spend 95 percent of their income on essentials, like childcare and groceries.
The U.S. economy created 119,000 nonfarm jobs in September, according to the Bureau of Labor Statistics’ September jobs report, delayed seven weeks by the government shutdown.
“Life felt more doable a year and a half ago,” college communications officer Holly Frew said in a Wall Street Journal interview last week.
Indonesian officials are discussing joining the roster of countries issuing “panda” bonds denominated in China’s renminbi currency, two unnamed sources told the Financial Times.
As the European Central Bank (ECB) hiked its interest rates from July 2022 to fight inflation, lower-income households suffered more than higher earners, the bank’s economists reported in a new study.
During the week ending 7 November, mortgage demand increased the most since September, the Mortgage Bankers Association (MBA) said, ending the year’s home-selling season on a high note.
In October, properties in some stage of foreclosure rose 3 percent from September to reach 36,766, a 19-percent gain year on year and the eighth consecutive month in which the number increased, according to property data service ATTOM.
Mortgage rates as low as 4 percent are still not motivating enough buyers to commit to home ownership, indicating the American housing market has more troubles than just too-high interest rates, The Wall Street Journal reported.
Last month, households and businesses filed 54,019 bankruptcy claims, up 12 percent year on year and 8 percent from September, according to Epiq, a leading bankruptcy tracking service.
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.