In February, lenders foreclosed on 32,938 U.S. homes, 8 percent more than a year earlier, data service ATTOM reported, although the number was a percentage point lower than in January.
Tag: U.S. economy
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INTEREST PAYMENTS OVERWHELMING U.S. CONSUMERS
The proportion of late-paying car loans and credit card accounts have climbed to their highest in more than a decade, Morning Brew reported.
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U.S. INFLATION RAN AT 3.2 PERCENT IN FEBRUARY
In February, consumers paid 3.2 percent more for goods and services than they did a year earlier and 0.4 percent more than in December, the U.S. Bureau of Labor Statistics (BLS) reported last week.
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ECONOMIC UPDATE – MARKET OVERVIEW
Since last week, the only real news on the market front is what the Fed will say tomorrow about the future path of interest rates. Indeed, cheap money is The Street’s main concern. The cheaper the money, the easier it is to borrow and gamble.
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TOP TREND 2023: OFFICE BUILDING BUST
Nationwide, office properties have lost about 20 percent in value since the COVID War made remote work the new normal. However, in some key markets, the plunge has been far more severe.
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U.S. TRADE DEFICIT UP MORE THAN EXPECTED
The value of U.S. imports increased 1.1 percent in January while exports ticked up just 0.1 percent, widening the trade deficit by 5.1 percent over December’s gap to $67.4 billion, the most since April 2023 and larger than economists had forecast.
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FEBRUARY JOBS REPORT FUELS OPTIMISM OVER RATE CUTS
The pace of wage growth slowed in February and unemployment rose slightly to 3.9 percent, strengthening convictions that inflation will fall to the U.S. Federal Reserve’s 2-percent target without tipping the country into a recession.
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ECONOMIC GROWTH? LAYOFFS ON THE RISE
In February, U.S. employers announced plans to cut 84,638 workers, 3 percent more than in January and 9 percent more than a year earlier, outplacement firm Challenger, Gray & Christmas reported.
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ECONOMIC UPDATE – MARKET OVERVIEW
As we note just about every week, the “Bigs” keep getting bigger and the rich keep getting richer, while the average person—the plantation workers of Slavelandia—keeps getting poorer.
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TOP TREND 2024: BANKS GO BUST
Four private equity firms have together spent a reported $1.05 billion to buy stock in the ailing New York Community Bancorp (NYCB).
And the number of U.S. banks showing problems soared from eight to 52 in last year’s final three months, the sharpest spike since…