Lumber Price Gets Chopped in Half Amid Chill in Housing Markets

  • Bloomberg

    Australian PM Says Interest Rate Rise Is a ‘Blow for Families’

    (Bloomberg) — Australian Prime Minister Anthony Albanese said his government would consider new policies to combat pressures from rising inflation and interest rates, after the country’s Reserve Bank announced its biggest rate rise since 2000 on Tuesday.Most Read from BloombergTarget Tries to Save Itself by Putting Everything on SaleAmazon’s Stock Split Delivers More Than Bargained ForTarget’s Oversupply Problem Should Scare All RetailersHedge Fund D1 Borrowed Billions for a Hot Bet That Now Fa

  • Bloomberg

    Poland Tees Up More Rate Rises After Ninth Hike to Curb Prices

    (Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergTarget Tries to Save Itself by Putting Everything on SaleAmazon’s Stock Split Delivers More Than Bargained ForTarget’s Oversupply Problem Should Scare All RetailersHedge Fund D1 Borrowed Billions for a Hot Bet That Now Faces ReckoningThese Are the World’s 20 Most Expensive Cities for ExpatsPoland’s central bank signaled no letup in its campaign to snuff out the h

  • Quartz

    Three signs the US housing boom is petering out

    Average mortgage rates have shot up to more than 5% from around 3% at the beginning of the year. Lower housing affordability is pushing half of US homebuyers to tears, according to a recent Zillow survey. Mortgage applications in the US dropped by 6.5% in the week ending on June 3, to its lowest level in 22 years, according data from the Mortgage Bankers Association (MBA) released today.

  • Bloomberg

    Lira Sinks to 17 Per Dollar as Erdogan Rate Talk Fuels Forex Demand

    (Bloomberg) — Most Read from BloombergTarget Tries to Save Itself by Putting Everything on SaleAmazon’s Stock Split Delivers More Than Bargained ForTarget’s Oversupply Problem Should Scare All RetailersHedge Fund D1 Borrowed Billions for a Hot Bet That Now Faces ReckoningThese Are the World’s 20 Most Expensive Cities for ExpatsTurkey’s lira tumbled beyond 17 per dollar for the first time since December amid a rush for foreign currency that was sparked this week after President Recep Tayyip Erdo

  • Motley Fool

    We’re Not in a Housing Bubble — but We Could Be If This Happened

    To say that today’s housing market is a tough one to crack would be an understatement. Based on the way things are going, some people may be worried that we’re headed into a housing bubble that’s about to burst. When the last housing bubble burst, the real estate market looked very different — namely, it was oversaturated with homes, and there wasn’t enough demand to keep up with them.

  • Reuters

    US STOCKS-Wall Street falls as Amazon, chipmakers weigh

    U.S. stock indexes fell on Wednesday as Amazon.com declined and chipmakers came under pressure after a bearish brokerage report on Intel, while higher oil prices deepened worries about global inflation. Intel Corp slid 5% as Citi Research warned the chipmaker could pre-announce weaker-than-expected earnings for the second quarter. “Given the fact that we are continuing to see gas prices increase makes me think that we still have very high inflationary pressures,” said JJ Kinahan, chief market strategist at online brokerage firm tastytrade Inc.

  • Quartz

    Inside Elon Musk’s new legal strategy for ditching his Twitter deal

    Elon Musk has buyer’s remorse. On April 25, the billionaire Tesla and SpaceX CEO agreed to buy Twitter for $44 billion, but since then the stock market has tanked. Twitter agreed to sell to Musk at $54.20 per share, a 38% premium at the time; today it’s trading around $40.

  • Bloomberg

    Scholz Says Germany Is Supporting Ukraine in Line With Allies

    (Bloomberg) — German Chancellor Olaf Scholz pushed back against accusations that his government hasn’t done enough to support Ukraine in its fight against Russia.Most Read from BloombergTarget Tries to Save Itself by Putting Everything on SaleAmazon’s Stock Split Delivers More Than Bargained ForTarget’s Oversupply Problem Should Scare All RetailersHedge Fund D1 Borrowed Billions for a Hot Bet That Now Faces ReckoningThese Are the World’s 20 Most Expensive Cities for ExpatsScholz, speaking in hi

  • SmartAsset

    How Much Does a $50,000 Annuity Pay Per Month?

    Annuities are an ideal option for investors seeking regular income in retirement. They pay out a fixed stream of payments on a monthly or annual basis that you can never outlive. Here’s how much you’d get per month if you … Continue reading → The post How Much Does a $50,000 Annuity Pay Per Month? appeared first on SmartAsset Blog.

  • Barrons.com

    Coffee Chain Dutch Bros’ Stock Is No Longer a Buy, Analyst Says. Here’s Why.

    J.P. Morgan is no longer bullish on Dutch Bros’ stock, partly because the coffee chain cut its growth rate forecast and its hourly employees are quitting at a higher rate. Analyst John Ivankoe downgraded shares of Dutch Bros to Neutral from Overweight earlier. On Tuesday, the company lowered its long-term year-over-year growth rate to 10% to 15% compared with its previous forecast for percentage growth in the midteens, provided at the time of its 2021 initial public offering.

  • Bloomberg

    Twitter Reassures Staff on Musk Deal, Sees Vote by August

    (Bloomberg) — Twitter Inc.’s top lawyer reassured staff Wednesday that the deal to sell the company to billionaire Elon Musk is still progressing, and that a shareholder vote will occur in late July or early August, according to people familiar with the matter.Most Read from BloombergTarget Tries to Save Itself by Putting Everything on SaleAmazon’s Stock Split Delivers More Than Bargained ForTarget’s Oversupply Problem Should Scare All RetailersHedge Fund D1 Borrowed Billions for a Hot Bet That

  • Motley Fool

    Largest Barrier to Bitcoin Usage Is Lack of Understanding, Study Shows

    The company Block – where Jack Dorsey is the CEO and its flagship product is CashApp – recently sponsored a global survey of 9,500 respondents to gauge their understanding and knowledge of the most valuable cryptocurrency, Bitcoin. People believe Bitcoin is the solution for a more equitable economy. According to the study findings, the top reason given for not buying Bitcoin was lack of understanding (51%).

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