Looking at the latest trends, we can see that homebuyers are taking advantage of historically low interest rates. This allows them to carry an extreme amount of debt spread over decades at a fixed cost. Of course, most people don’t take into account that over these decades, the actual amount paid for the home could be more than double the asking price of the home. Either way, people aren’t going to stop taking on more debt. As it grows, it puts additional pressure on the fragile system, and will only be a detriment long term. But hey, who cares, right?
US home prices rise at fastest pace in more than 6 years
WASHINGTON (AP) – U.S. home prices jumped in October by the most in more than six years as a pandemic-fueled buying rush drives the number of available properties for sale to record lows. That combination of strong demand and limited supply pushed home prices up 7.9% in October compared with 12 months ago, according to Tuesday’s S&P CoreLogic Case-Shiller 20-city home price index.
1 year price change major cities append.jpg (1136×741)
Real Estate Optimism Blows Past Pre-Virus Levels in Canada – Bloomberg
People leaving Hawaii permanently doubled in 2020
Editor’s note: A previous version of this story said the number of residents leaving Hawaii doubled in 2020, based on an erroneous interpretation of the data taken from the Grassroot Institute of Hawaii press release, which drew on another source for its figures. The U.S.
A Nation’s Economy Divided: Breadlines vs. Bread Makers
LADPH Asks Hollywood to Stop Filming Amid Case Surge
LA County Health Officials Ask Hollywood to ‘Strongly Consider Pausing’ Production Amid Covid-19 Spikes
The Los Angeles County Department of Public Health has asked the entertainment industry to “strongly consider pausing” production for the next couple of weeks due to the surge in coronavirus cases in the state. Los Angeles Mayor Eric Garcetti (D) issued an emergency authority order earlier this month, asking residents to “cancel everything” amid the recent spike, yet Hollywood has continued to film.
Ten Ways Covid-19 Has Changed the World Economy Forever
(Bloomberg) — Economic shocks like the coronavirus pandemic of 2020 only arrive once every few generations, and they bring about permanent and far-reaching change.Measured by output, the world economy is well on the way to recovery from a slump the likes of which barely any of its 7.7 billion people have seen in their lifetimes.
Fed, Treasury Provide One-Week Reprieve for ‘Main Street’ Program After Demand Surges – WSJ
The Treasury Department and Federal Reserve said Tuesday they had extended the cutoff date for the Main Street Lending Program from Dec. 31 to Jan. 8 to process a last-minute crush to deliver loans.
Global banks generate record $125bn fee haul in 2020 | Financial Times
Investment banks across the world generated a record $124.5bn in fees this year as companies raced to raise cash in order to survive the pandemic. The windfall came as lenders earned high fees underwriting debt and equity offerings for clients such as aerospace group Boeing, property rental site Airbnb and telecoms group SoftBank, according to data provider Refinitiv.
Charles Schwab to Officially Move Headquarters to Denton County on Jan. 1 – NBC 5 Dallas-Fort Worth
The Charles Schwab headquarters is officially coming to North Texas on Jan. 1. According to Denton County, the move is significant for the financial sector, both in North Texas and on a larger scale. The financial services firm announced a $26 billion merger with TD Ameritrade in October 2020.
NFL player to be paid in bitcoin
In May 2019 NFL player Russell Okung tweeted “Pay me in Bitcoin” and now that appears to be happening. The Carolina Pathers tackle will receive half of his $13 million salary in the cryptocurrency. The arrangement comes by way of bitcoin startup Zap, according to industry site coindesk.
Real estate has been going much higher in many areas in the U.S. as we have seen changes in work habits but also with interest rates. As they continue to drop, we have seen more interest in refinancing, and an increased appetite for debt. Mortgages are growing. Debt is accelerating.
— APPENDICES —
- The Money GPS: How To Get Out of An Economic Crisis. Action Steps To Excel, Prosper, and Prepare!
- The Money GPS: If You’re Dealing With Unemployment, Wage Cuts, or Crisis THIS Is What You Must Do
- The Money GPS: Who Controls the World? These Organizations, Institutions, and Families Run the Show
- The Money GPS: Rothschild and Rockefeller Team Up With the Vatican! Follow the Money…
- The Money GPS: The Broken Economy Leaving Millions Without A Job! Economic Crisis or Opportunity?
- The Money GPS: BIS Central Banker Admits EPIC Level Crisis Is the Most Likely Result of Global Mass QE
— FOOTNOTES —
Wake up to the suits and ties. They’re all lying to you. None are your friends. None wish to help you. Wolves in sheep clothing. More distractions than ever before. The magician always makes a spectacle to hide the trick.
What if the stimulus included more money for people. Is $1200 enough? $2000? Is this going to solve any deep rooted problems? What about the disgraceful 5600 pages filled with billions that have nothing to do with where people actually need help? #StimulusChecks #StimulusBill
We live in a fantasy land. More money flowing in than ever before, IPO frenzy, housing skyrocketing. Euphoria never end well. The higher it goes the worse it will be. Slow and steady growth is much safer. #money #investments #debt
IF THEY WILL FIGHT OVER PLAYSTATION…What would they do for food? #ps5 #PlayStation5 #playstation #ps5fight #walmart pic.twitter.com/hbimVKzeta
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
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