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The Fed bumped rates seven times in 2022, a year that saw mortgage rates jump from 3.4 percent in January all the way to 7.12 percent in October. In 2023, mortgage rates went higher still, briefly ...
The U.S. housing market has gotten so expensive, in fact, that Andy Walden, vice president of enterprise research for ICE Mortgage Technology, calculated that U.S. incomes would have to increase a ...
July 7, 2022 at 9:03 AM
The housing market slowdown is likely to gain steam, ... On average, U.S. homes purchased during a four-week period in August 2022 sold for less than the asking price. (AP Photo/Wilfredo Lee, ...
China's real estate slowdown has reduced local government income. In 2022, land sale revenue dropped to 6.7 trillion yuan, a 23 percent decrease from 2021. This revenue made up 24 percent of total local government income, down from 30 percent the previous year. Taxes from land and property development also fell by 8 percent.
The housing market has been effectively stuck since mortgage rates began their swift climb in 2022. Homeowners lucky enough to lock in rates around 3% in earlier years were suddenly reluctant to ...
In July, the housing market had a 4.0-month supply of housing inventory, a 19.8 percent improvement over last year but still below the 5 to 6 months needed for a healthy, balanced market — one ...
The S&P 500 peaked for the year at 4,796 on its January 3, 2022 close, before declining 25% to its low for the year in October 2022. [11] [12] In the first 6 months of 2022, the S&P 500 fell 21%, the worst 6-month start to a year since 1970. [13] [14] On September 13, 2022, the S&P 500 declined by 4.32% in its largest single-day drop since June ...