Doom, gloom, fear and uncertainty have darkened the bright landscape of domestic real estate. Rising mortgage rates and inflation have dampened the enthusiasm of would-be homebuyers and narrowed the outlook of once-confident sellers. But experienced real estate professionals in Manhattan and coastal Orange County, California, predict healthy real estate markets, especially at the high end.
Month: July 2022
It has been a wild ride, and it’s not over yet. First there was the offer by Elon Musk to buy the social media giant, the outrage, the pushback and more. Eventually, there was the deal struck for the Tesla TSLA tycoon to pay $44 billion for the platform. Famously feisty Musk complained about bots
What do you think is the biggest 401(k) retirement planning mistake? You might think it is picking the wrong investments, setting up the plan improperly, or contributing the wrong amount. The answer is simpler than the 401(k) mistakes I just listed. The biggest 401(k) mistake in 2022 is missing out on your 401(k)-employer match. This
Shoppers explore a mostly empty mall in Columbus, Ohio. Matthew Hatcher | Getty Images Don’t expect the stream of departures from retailers’ C-suites to stop anytime soon. Already this year, Gap and Bed Bath & Beyond abruptly replaced their CEOs as the companies’ sales plunged. GameStop fired its chief financial officer in the middle of
In this article NFLX Netflix shares jumped after the company said it lost fewer subscribers than anticipated during the second quarter. The streamer also said it aimed to unveil its lower-cost, ad-supported tier in early 2023. This comes on the heels of Netflix tapping Microsoft to be its partner on the ad-supported offering. “We’ll likely
In this article BTC.CM= COIN Coinbase reported a 27% decline in revenues in the first quarter as usage of the platform dipped. Chesnot | Getty Images Coinbase on Wednesday said it had no counterparty exposure to collapsed crypto firms Celsius, Three Arrows Capital and Voyager Digital, seeking to allay fears about the impact of a
The Consumer Financial Protection Bureau headquarters in Washington, D.C. Joshua Roberts/Bloomberg via Getty Images The Consumer Financial Protection Bureau plans to tighten rules around fraudulent money transfers via services like Zelle by pushing banks to repay more customers harmed by these alleged scams, according to a report published Tuesday in The Wall Street Journal. These
In this article GS Pawel Toczynski | The Image Bank | Getty Images The U.S. economy is going through one of the most difficult periods I’ve seen in my 40-year career. Inflation, labor shortages, supply chain disruptions — all of them are hitting big business hard and small businesses even harder. And so this week,
Pandemic-era home buyers faced intense competition in once affordable markets during the housing market frenzy. But demand is softening as surging mortgage rates, high home prices, inflation and a falling stock market have eroded home buyer budgets, causing some house hunters to back off at an alarming rate, according to a new report from Redfin,
Tax Notes contributing editors Robert Goulder and Joseph J. Thorndike discuss why a federal gas tax holiday is unnecessary, all in five minutes. This transcript has been edited for length and clarity. Robert Goulder: You’ve probably heard the news by now. President Biden is asking Congress to suspend the federal gasoline tax for three months.
Saving for retirement involves sacrificing something of value today in exchange for something of value in the future. Economists have long argued that this decision is biased in favor of current values because they are more certain than future values, and also closer at hand. The consequence is insufficient savings in the earlier stages of
NEW YORK, US – JULY 10: An aerial view of the cruise ship “Norwegian Joy” sails up the Hudson River in front of the skyline of Manhattan as the sun sets in New York City, United States on July 10, 2022. Lokman Vural Elibol | Anadolu Agency | Getty Images Shares of cruise lines including
In this article GS IBM BA IBM CEO Arvind Krishna appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022. Hollie Adams | Bloomberg | Getty Images Check out the companies making headlines in midday trading Tuesday. IBM – Shares of IBM slipped 5.25% after the tech company
In this article DAL Tim Boyle | Getty Images News | Getty Images Air travel has been rocky this summer — and baggage problems factor among many other issues for travelers like flight cancellations and delays. Nearly 220,000 bags were “mishandled” by U.S. airlines in April 2022, meaning they were lost, damaged, delayed or stolen,
Topline New housing starts unexpectedly plunged more than economists projected in June as home builders grappled with the effects of rising interest rates curbing demand for new homes, according to data released Tuesday, adding to signs of an abrupt turnaround in the booming housing market. Key Facts The number of housing starts, or new houses
Today’s Social Security column addresses questions about whether Social Security is changing when people will receive their benefit payments, moving a childhood disability benefit from one parent’s record to another and when the earnings test ends for survivor’s benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of
Topline Shares of Netflix surged after the closing bell Tuesday despite the streaming giant’s disclosure in its second-quarter earnings report that it lost subscribers for a second quarter in a row, as the total was lower than investors had feared—with the company optimistic about adding back subscribers later in the year. Key Facts Netflix’s stock
In this article NFLX Good enough. Netflix didn’t blow the roof off its second-quarter earnings. It announced it lost about 1 million global subscribers in the quarter, marking the second consecutive quarter it has hemorrhaged customers. And it lost 1.3 million subscribers in the U.S. and Canada, marking the third time in the last five
U.S. stock futures edged higher on Tuesday after a sharp rally for the three major indexes during the regular trading session. Dow Jones Industrial Average futures rose 12 points, or 0.04%. S&P 500 and Nasdaq 100 futures climbed 0.16% and 0.32%, respectively. Netflix surged more than 7% in after-hours trading after saying it lost only
Like any other financial philosophy, the so-called “FIRE” movement has no shortage of experts and thought leaders eager to share their blueprint for success. Fans of FIRE (which stands for “financial independence, retire early“) embrace the idea of saving the vast majority of their income in their 20s and 30s, in order to retire or
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